The Cooperative Bank of Oromia (CoopBank), one of Ethiopia’s premier banking institutions, has partnered with the global FinTech powerhouse, Temenos, to launch innovative digital banking solutions.
This strategic partnership aims to address Ethiopia’s low financial inclusion rates by offering user-friendly, accessible banking services online and through mobile applications.
CoopBank has been utilizing the Temenos Banking Platform for core banking functionalities since 2017, which has facilitated significant customer base and business line expansions. This collaboration further extends their relationship with Temenos, enhancing their platform with Temenos Digital in September 2023 through Xpert Digital as the delivery partner.
The bank’s digital-first strategy is supported by Temenos’ comprehensive solutions, including the Temenos Payments Hub and Temenos Data Hub, to foster innovation and effectuate positive change in Ethiopia’s banking sector.
Cooperative Bank of Oromia CEO Deribie Asfaw said, “The Coop App and Coop App Alhuda Omni-channel are a testament to our commitment to providing seamless, accessible, and user-friendly banking experiences for all our customers, an integral part of our digital first strategy. This collaboration with Temenos, renowned for innovation, ensures the robustness and scalability of the Coop App Omni-channel platform, which aims to set new industry standards for banking technology in Ethiopia.”
Lee Allcorn, Managing Director, Middle East & Africa, Temenos, commented: “Congratulations to Cooperative Bank of Oromia on the successful launch of the Coop App and Coop App Alhuda powered by Temenos Digital. With this launch the bank shows the rapid time to value of our digital banking solution, leveraging the latest technology to re-imagine the banking experience for more than 12 million customers. It is exciting to see this pioneering bank using the Temenos platform to drive innovation and bring positive change in Ethiopia for its customers and society.”
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