Cooperative Bank of Oromia launches new apps with Temenos to elevate digital experience and advance financial inclusion in Ethiopia

Press Releases, March 19, 2024

Temenos – Company

GENEVA, Switzerland – MARCH 19, 2024 – Temenos (SIX: TEMN) today announced that Cooperative Bank of Oromia (Coopbank), one of the largest banks in Ethiopia, has launched CoopApp and CoopApp Alhuda on Temenos Digital (Infinity), delivering a modern digital experience for conventional and Islamic banking with greater personalization for more than 12 million customers.

Ethiopia has one of the lowest rates of financial inclusion and the launch of CoopApp and CoopApp Alhuda represents a significant leap forward with user-friendly banking services accessible online and via mobile app.

Using Temenos Digital, Coopbank has gained a comprehensive 360-degree customer view to enable personalization of need-based financial products and services, and deliver a unified banking experience across various touchpoints, including online banking, mobile banking, ATMs, and in-branch services.

Coopbank has relied on the agility and scalability of the Temenos Banking Platform for core banking since 2017, enabling a significant expansion in its customer base and lines of business. The bank extended its relationship with Temenos to provide an end-to-end platform, going live with Temenos Digital in September 2023 with delivery partner Xpert Digital.

The strategic partnership with Temenos reinforces the bank’s dedication to leveraging state-of-the-art technology to meet the diverse needs of its customers. In addition to Temenos Digital and Core, the bank has deployed Temenos market-leading solutions including Temenos Payments Hub and Temenos Data Hub to accelerate innovation and bring positive change to the Ethiopian banking environment.

Deribie Asfaw, CEO, Cooperative Bank of Oromia, commented:

“The Coop App and Coop App Alhuda Omni-channel are a testament to our commitment to providing seamless, accessible, and user-friendly banking experiences for all our customers, an integral part of our digital first strategy. This collaboration with Temenos, renowned for innovation, ensures the robustness and scalability of the Coop App Omni-channel platform, which aims to set new industry standards for banking technology in Ethiopia.”

Lee Allcorn, Managing Director, Middle East & Africa, Temenos, said:

“Congratulations to Cooperative Bank of Oromia on the successful launch of the Coop App and Coop App Alhuda powered by Temenos Digital. With this launch the bank shows the rapid time to value of our digital banking solution, leveraging the latest technology to re-imagine the banking experience for more than 12 million customers. It is exciting to see this pioneering bank using the Temenos platform to drive innovation and bring positive change in Ethiopia for its customers and society.”