Berhan International Bank, Ethiopia has contracted with Ernst and Young to carry out an IT security audit to allow the bank to launch internet banking services.

The bank signed the agreement last week for an undisclosed amount of money estimated to be as much as 50,000 US dollars depending on the size of the bank and the range of the services that it intends to offer said Amaha Bekele, IT Advisory Head with Ernst and Young, East Africa.

Ernst and Young committed to finalizing the project within six weeks.

The study will be the first of its kind undertaken by the consultants in Ethiopia although similar audits are relatively common in other countries he said.

Berhan bank’s CORE banking system is compatible with offering internet banking services said Solomon Mamo, Director of Information Systems with the bank. The bank has trained 10 employees and implemented a trial run of internet banking he explained.

The bank is ready to launch services as soon as it can ascertain that its networks are safe according to Solomon.

The services to be launched will allow customers to view their banking information online and to transfer money from one account to another in any branch of the bank.  

Berhan will submit its application to start the service as soon as the audit is completed said Solomon.

Source: Addis Fortune