ADDIS ABABA – Addis Credit and Saving Institution announced that it has allocated 100 million birr to launch corebanking system at the end of the current Ethiopian fiscal year.
The system will interconnect 192 branches and is hope to ease the lengthy process of delivering service to its clients that are estimated at more than half a million Institution Deputy Managing Director Serekeberhan Zeray told The Ethiopian Herald that, currently the institution is striving to compete with banks. Hence, it is on the final level of preparatory works to introduce core banking system which is one of the modern banking systems in the world.
This modern technology will make the clients to get their service in any branch of the institution. Even they can make any of the financial transactions in each branch that are tied with the system. Accordingly the system can save the customers’ time, reduce risk and can encourage them to save their money in the institutions rather than keeping on hand.
The winner has been selected from the announced International Bid for launching the system for the institution. And preparing of the data to be ready for the system has been also accomplished. In addition to this fulfilling the infrastructure is also accomplished before the installation of the system being started.
The core banking system will commence at pilot level in selected 20 branches for the first phase and will be applied in all branches after assessing the performance. Meanwhile the institution is responsible for all directives assigned by National Bank of Ethiopia to regulate micro finance institutions. Tadesse Zenebe , the institution’s customer at Gullelle branch, says the new system which is on the way to be launched by the institution is very important to modernize the service we are getting from the institution.
“It will build up our confidence to save our money.” He indicated. The reason for him to appreciate the system was that he will even get the service easily from any of the branches. As to him the problems which are being seen by the institution will not be solved unless this new system is launched. He also added that the institution shall improve its weaknesses while providing credit for the customers.
There is boring process in order to get the credit from its branches. There up on the institution should also stress on its credit service in parallel with its saving service he appointed. The Marketing Director on his side told that the institution is trying to solve the problems and challenges on the implementation of its service and satisfying the customers’ need appropriately.
Herald February 2/2019
BY HIZKEL HAILU
