ADDIS ABABA – The Commercial Bank of Ethiopia (CBE) introduced an upgraded version of the CBE Birr app, a digital wallet that has been in use since 2017.
CBE carried out 72 percent of transactions digitally during the past fiscal year, it was learnt.
During the introduction of the upgraded wallet, CBE Birr Plus, Deputy and Acting President of the Bank, Ephrem Mekuria, stated that CBE’s digital platform users are growing steadily. In 2018, the number of CBE Birr wallet users was almost 2.2 million; this figure rose to 6.5 million the following year. It has now reached 12 million users, he said.
Customers of the bank have been using the CBE Birr as an alternative digital platform to transact money in addition to the main CBE app, he highlighted.
The service provision using the digital platform has been upgraded to incorporate the latest technologies in the banking and financial system.
Digital Banking subdivision head and Vice President of the Bank, Wogayehu Gebremedihin noted that the bank is transforming the banking culture through digitalization. The mobile app is introducing a new and easier banking culture, even in areas where the conventional banking system is not well-known.
Information Network Security Administration Director and bank board member Tigist Hamid indicated that digital inclusivity should be one of the bank’s goals and commended the ongoing processes carried out by the bank.
Most Ethiopians are still excluded from digital banking services; the bank has a responsibility to serve customers through digital platforms, she added.
BY YESUF ENDRIS
THE ETHIOPIAN HERALD FRIDAY 26 JULY 2024
