Economy
CBE Handles 73% of Ethiopia’s Digital Transaction Value
BirrMetrics · 4 hours ago · Read the Full Story on BirrMetrics
AI SUMMARY
The Commercial Bank of Ethiopia is enhancing its 24/7 cybersecurity measures as digital channels account for 73 percent of the country's annual digital transaction value and 92 percent of the bank's transactions.
- The Commercial Bank of Ethiopia handles 73 percent of Ethiopia's annual digital transaction value, equivalent to at least 21.9 trillion birr out of more than 30 trillion birr.
- Ninety-two percent of CBE's transactions are conducted digitally.
- The bank serves more than 48 million customers, including over 46 million digital banking users.
- CBE is expanding round-the-clock cybersecurity monitoring to protect customer information and transaction reliability.
- Bank President Abie Sano noted that cybersecurity investment costs are outweighed by the potential damage of losing customer trust.
- CBE is implementing artificial intelligence-supported security technologies and a zero-trust security framework.
- The bank has introduced password-based and biometric authentication measures to protect account access.
- The bank's third annual Cybersecurity Awareness Month conference took place in Addis Ababa on October 29.
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