Kenya-based company Fintech provides banking solutions in Ethiopia

Fintech, a Kenya-based enterprise information technology solutions and services provider, has introduced a technology to Ethiopia that will enable banks to curb ATM related transaction errors.

According to The East African, Fintech’s head of sales Polycup Osero said that the technology service will enable banks in Ethiopia to solve ATM errors and increase 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,” Osero said.

Similar services have been used by other countries to prevent cheque-related fraud and the circulation of fake cheques. Although in Africa, countries including Tanzania, Malawi, and Botswana have been implementing such services recently, Kenya seems to be using the system for past five years.

The bank already provides a cheque truncation system to eight Ethiopian banks including Dashen, Zemen, United, Anbessa, among others. Using this system, banks can capture the cheque’s image and send it to the central bank for verification.

With five operations across Africa; Kenya, Malawi, Mauritius, Uganda and Zimbabwe, Fintech has over 20 years’  of experience in providing cutting edge solutions and services in various sectors and mainly the financial services industry (FSI) in both presence and non-presence across African countries including Tanzania, Rwanda, Ghana, Liberia, Libya, Ghana, Egypt, Nigeria, Morocco, Ethiopia, Kenya, among others.