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Commercial Bank of Ethiopia Launches E-Banking

The Commercial Bank of Ethiopia announced the launch of internet banking services for the 74 branches connected through integrated banking solutions (Core Banking).

The bank will offer the service to individual customers as well as to companies.

The new system operates on any device that is able to support an internet browser and makes use of anti hacking and anti E-theft systems building up on the experience of Asian and European banks said Solomon Mengesha, Assistant Vice President of Information Systems with CBE.

The internet banking system put in place by the commercial bank also has strict customer authentication methods as well as building a significant Information Technology architecture according to Solomon.

The new online service will allow clients to send money, keep track of their accounts, check on the status of loans, and transfer money between personal accounts or to the account of another bank customer he explained.

The service also allows customers to pay utility bills such as electricity, water and telephone online added Solomon.

The internet banking project took eighteen months to realize beginning from the selection of technology and including development and deployment in the 74 CBE branches which have implemented CORE banking solutions he said.

CBE anticipates that more than 100,000 of its customers will be able to make use of the newly offered internet banking service initially.

Source: Capital