Commercial Bank of Ethiopia (CBE) has deployed ACI Worldwide's UP Retail Payments solution to modernize its payments infrastructure.
CBE is at the forefront of Ethiopia’s move toward becoming a cashless economy. As it undertakes this bold initiative, the bank is using ACI’s market-leading UP Retail Payments solution to optimize its payments environment, enabling it to transform its legacy systems, accelerate innovation and implement real-time, any-to-any payment capabilities. CBE selected ACI following a comprehensive and competitive vendor review.
Commercial Bank of Ethiopia project management director Addis Tilaye said: “Our millions of customers are our top priority, and during this financially transformative time in our country, we’re excited to work with ACI on accomplishing this milestone.
“ACI’s broad footprint and understanding of our region, proven and reliable payments offerings, and track record of success make it an ideal technology partner.”
ACI Worldwide MEASA general manager Manish Patel said: “Africa has long been regarded an incredibly advanced nation when it comes to financial innovation, and Ethiopia’s move toward a cashless economy further reinforces this recognition.
“We are excited to be at the forefront of this financial evolution—and help CBE achieve its business goals.”
ACI’s UP Retail Payments solution delivers 24×7, secure payment capabilities, and is used by 8 of the world’s top 10 banks.
As more financial institutions continue to transform, they’re turning to UP Retail Payments, which bridges the features and functionalities of their current systems with next-generation technologies, ensuring they can continue business as usual while adding new services and innovating in a protected environment.
Source: Company Press Release