Founded in 2004, the Cooperative Bank of Oromia (CBO) has become one of the leading private banks in Ethiopia with more than 11 million customers worldwide and operates through a network of 747 branches throughout the country and aspires to become the leading private bank in the country by 2025. The bank offers a range of banking services to its customers, including retail, cooperative, institutional, diaspora, and interest-free banking.

The bank’s move to replace its existing legacy systems with the Temenos core banking functionality supported its immediate goal of providing banking solutions that create a greater customer experience, with an emphasis on cooperatives and agro-based businesses. As the bank increases its footprint in Ethiopia, the new technology enables the bank’s growth strategy, supported by an agile core banking solution, powerful analytics, and a central platform to drive growth across all distribution channels. In 2023, the bank has successfully gone live with state-of-the-art retail banking solutions using Temenos digital banking. The launch is part of CBO’s digital transformation strategy to offer convenient, secure, and personalized services to its customers.

“It is with great pleasure that I announce the launch of digital banking services for our customers. This is a key step in our vision to empower our valued customers and strengthen our communities. We have chosen Temenos and Xpert Digital as our trusted partners to deliver state-of-the-art digital banking that offers convenience, security, and personalization. We believe that our digital transformation will bring a positive change for our customers, shareholders, and society,”

Deribie Asfaw, President at Cooperative Bank of Oromia

CBO’s digital transformation is powered by Xpert Digital, a global leader in providing digital banking solutions. In addition, Xpert Digital has deployed to further enhance and provide localized solutions for the Ethiopian market. The solution incorporates the best practices and regulatory requirements of the Ethiopian banking industry, as well as the latest trends and innovations in digital banking.

The launch of a world-class retail banking solution marks a significant milestone for Cooperative Bank of Oromia in its digital transformation journey and will soon be made available to the public. By offering innovative and differentiated services to its retail customers, Cooperative Bank of Oromia will be able to increase customer acquisition, retention and loyalty, as well as gain competitive edge in the rapidly evolving retail banking landscape.

“As a result of true teamwork between our organizations, we are very pleased that we have completed the implementation of Temenos core banking for Universal Banks. This deployment gives us the peace of mind that we have the technology in place to meet the needs of our customers, support our growth and meet all local regulatory requirements.”

Aman Semir, VP Information Systems at Cooperative Bank of Oromia
Region
  • Middle East & Africa
Solutions
  • Core Banking
  • Corporate Banking
  • Digital Front Office
  • Retail Banking
  • Small Business Banking
  • Universal Banks