As Ethiopian banks look to minimize errors associated with automatic teller machine transactions, Fintech, a Pan African information technology solutions and service provider has launched a technology that will come in handy for the banking sector.
According to the head of sales at the Kenya-based firm Polycup Osero, the service will save Ethiopian banks time and resources in resolving ATM errors, and boost customer satisfaction. "Currently a bank in Ethiopia uses 30-50 people to reconcile ATM-related error reports. But with the Fintech solution, not more than 10 people will be needed to trace and resolve the error," said Mr Osero.
The bank is already providing a cheque truncation system to eight banks in Ethiopia, namely Awash, Dashen, Zemen, United, Anbessa, Abay, Enat and Debub Global banks. The system allows banks to capture the image of the cheque and send it to the central bank for verification.
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