2merkato

The National Bank of Ethiopia has signed a 3.4 million US dollar contract with Indian company Polaris Financial Technology ltd for the replacement of its CORE Banking technology.

Polaris, locally represented by Ernst and Young, won the contract over Mysis which had originally supplied the National bank with the software it has been using for the previous 15 year.

The new software purchased by the central bank is a solution known as Intellect which specialized in the management of banking specific operations such as the administration of national foreign currency reserves, gold reserves and the settlement and payment of the government accounts as well as the issue of currency and interfacing with the National Payment System.

The National Bank of Ethiopia (NBE) has started reviewing possible frameworks for a Central Bank Digital Currency (CBDC) as part of its broader consideration of future digital payment systems.

National Bank of Ethiopia (NBE) will launch implementing check standardization system as of January 1, 2016, Capital reported.

ADDIS ABABA, Ethiopia, October 14, 2015 – NCR Corporation, (NYSE: NCR), the global leader in consumer transaction technologies, today announced that Commercial Bank of Ethiopia (“CBE”), the leading bank in the country, has upgraded its ATM management system to NCR APTRA Vision, a multi-vendor self-service management solution.

NEC Corporation, a Japanese multinational provider of IT services and products, has expressed its interest to enter Ethiopia’s telecom and information technology market, Ethiopian Investment Commission disclosed.