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Cooperative Bank of Oromia launches universal banking platform

Published 03 October 2017

Ethiopia-based Cooperative Bank of Oromia (CBO) in collaboration with Swiss fintech firm Temenos has launched UniversalSuite, a universal banking platform which includes T24, Temenos Connect and business intelligence solution, business intelligence insight.

“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,” CBO said in a release.

“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,” CBO added.

United System Integrators (USi) will help CBO in seamless implementation of Temenos’ Core Banking platform.

CBO has gone live on the core banking platform with256 branches across 2.4m customer accounts.

Cooperative Bank of Oromia VP information systems Aman Semir said: “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.”

Temenos regional director Jean-Paul Mergeai said: “This rapid deployment and “go live” demonstrates the operational efficiency of our partnership programme and our ability to quickly equip financial institutions with the right tools to transform in a market undergoing significant regulatory, competitive and customer changes.”