Geneva-based Temenos announced yesterday that one of Ethiopia's leading banks, Cooperative Bank of Oromia (Coopbank), has launched CoopApp and CoopApp Alhuda on its financial platform, Temenos Digital (Infinity).
According to the company, this will provide more than 12 million consumers with a modern digital experience for traditional and Islamic banking, as well as increased personalisation.
Ethiopia has one of the lowest rates of financial inclusion, and the launch of CoopApp and CoopApp Alhuda marks a step forward, making banking services available online and via a mobile app, says Temenos.
Temenos provides an open platform for composable banking. The company claims to help 3,000 banks in over 150 countries.
Coopbank said in a statement yesterday that, thanks to this deal, it will be able to provide a unified banking experience across several touchpoints, such as online banking, mobile banking, ATMs, and in-branch services.
Coopbank has used Temenos Banking Platform for core banking since 2017, which it claims allowed for a significant development in its client base and areas of business.
Deribie Asfaw, CEO, Coopbank, said: “This collaboration with Temenos 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, said: “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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