Sidama Bank and the Documents Authentication and Registration Services (DARS) have officially partnered up to collaborate across a variety of fields. The agreement was signed at Sidama Bank's Head Office by CEO Tadesse Hatia and DARA Director General Degato Kumbi.

The agreement allows the Sidama Bank to offer online verification services to customers, making the transaction process more online and less agent-based, and also helping to prevent forgery. The bank revealed that the agreement was part of a larger initiative that included implementing a bank-to-bank transfer system with all banks and Ethio Telecom.

DARS has signed MoUs with 28 other institutions to facilitate seamless and secure services for their expanding customer base. With 14 branches in Addis Ababa serving around 6000 customers daily, the authority conducts quarterly evaluations to ensure transaction security and public safety. On the other hand, Sidama Bank is exerting efforts to integrate with more than 30 banks, aiming to offer convenient services and streamline transaction processes for customers. The bank also aims to expand plans, with 40 branches across the country, emphasizing their commitment to broadening accessibility.

Speaking about the collaboration, Sidama Bank’s CEO Tadesse Hatia emphasized that this partnership is a strategic move for Sidama Bank to improve its legal standing and reliability by working with DARs on digital platforms. Tadesse also highlighted that the agreement will eliminate the need for third-party authentication, prevent manipulation and fraud, and help to maintain daily control over the bank system.

Source: The Ethiopian herald