News

Ethiopian banks automate ATM error resolution

August 31, 2016

Fintech, a Kenya-based provider of information technology solutions, is working with the Ethiopian banking community to implement an automated solution that will help banks to quickly resolve errors related to ATM transactions.

"Currently a bank in Ethiopia uses 30 to 50 people to reconcile ATM-related error reports," Fintech head of sales Polycup Osero said in a report by All Africa. "But with the Fintech solution, not more than 10 people will be needed to trace and resolve the error."

Not only will the service save Ethiopian banks time and resources, but it will also lead to increased customer satisfaction, Osero said.

Ethiopia now has 16 banks. The largest of these is Commercial Bank of Ethiopia, which serves about 50 percent of the market.