Founded in 2004, the Cooperative Bank of Oromia has become one of the leading private banks in Ethiopia with approximately 10 million account holders throughout the country. The bank’s move to replace its existing legacy systems with the Temenos core banking functionality for Universal Banks will support 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, this new technology will enable 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. Ever since CBO went live on Transact in 2017, the bank has grown by 10x using the Temenos software. They are now moving to the next step in their journey, implementing Temenos Infinity Enterprise Edition.
“As a result of true teamwork between our organizations, we are very pleased that Temenos and USi have completed the implementation of Temenos Transact 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, Cooperative Bank of Oromia
“CBO is the first bank of its size in the region to go-live on Temenos’ Core Banking platform with a “big bang” of 256 branches and 2.5 million customers migrating from its legacy system onto Temenos Core Banking. USi, adhering to Temenos’ implementation methodology, implemented Temenos’ Ethiopian model bank, successfully bringing the bank live in four and a half months”Akalework Amde, Software Services Manager, USi