Bank of Abyssinia officially launched its comprehensive paperless banking services across all branches nationwide today. The inauguration took place at the newly established Ras Special Branch in Addis Ababa, chosen as a symbolic location for its modern design and strategic importance. The event was attended by key figures, including the Governor of the National Bank of Ethiopia, Ato Mamo Mehretu, who commended the bank’s digital leadership. Also present were our CEO, Ato Bekalu Zeleke, along with members of our senior executive team, dedicated employees from various departments, and invited guests from the financial and technology sectors.

This launch represents a fundamental shift in how Abyssinia Bank operates and interacts with its customers, moving away from a system that traditionally generated substantial paper waste and incurred significant associated costs. Globally, the banking industry has grappled with the burden of paper: estimates suggest that the cost of processing a single paper check can range from $4 to $20 — factoring in labor, materials, and postage. Beyond checks, the overall cost of using paper, when considering storage, printing, copying, and disposal, can be 13 to 31 times the actual purchase price of the paper itself, meaning for every $100 spent on paper, an additional $1,300 to $3,100 is incurred in associated costs. Furthermore, paper waste accounts for a significant portion of landfill waste, with some studies indicating it makes up approximately 25% of landfill content. This initiative directly addresses these financial and environmental pressures.

All core branch services, which previously involved extensive paperwork and manual processing, are now entirely handled digitally. This includes essential transactions like fund transfers, both inter-bank and intra-bank, secure cash deposits and withdrawals, efficient new account openings for various customer segments, and all forms of service requests, from statement inquiries to card reissuance. Customers are now served through an intuitive interface on smart kiosks and handheld tablets, significantly streamlining the entire banking experience. Identity verification, a critical aspect of secure banking, is now achieved seamlessly and swiftly using advanced fingerprint and facial recognition technologies, enhancing both security and customer convenience. This innovative system is designed to drastically reduce the reliance on physical paper, consequently shortening customer waiting times and queues, and improving the overall operational transparency of day-to-day branch activities.

The transition to this fully paperless environment was not an overnight endeavor but the culmination of a carefully phased, three-year strategic roadmap. We began by extensively digitizing internal workflows, moving numerous back-office and inter-departmental processes onto digital platforms to build foundational efficiencies. Concurrently, we introduced tablet-based service delivery in selected pilot branches, allowing us to test and refine the customer experience in a controlled environment. A significant technological milestone in this journey was the successful deployment of the Temenos Infinity platform—a powerful integrated system that unified our mobile banking, Internet banking, and core banking functionalities into a single, cohesive ecosystem, providing a holistic view of customer interactions and streamlining data flow.

Further technological advancements included the implementation of robust digital KYC (Know Your Customer) processes to enhance compliance and simplify onboarding, sophisticated real-time fraud detection mechanisms to protect customer assets, and the introduction of remote onboarding capabilities. Additionally, we strategically deployed Interactive Teller Machines (ITMs) at various locations, providing customers with access to a wide range of services without the necessity of physically entering the branch, offering flexibility and extended service hours.

Our early pilot programs provided compelling evidence of the digital banking model’s potential, particularly with the introduction of digital account openings through our mobile application. The customer response was immediate and overwhelmingly positive, indicating a strong market appetite for convenient digital solutions. This initial success rapidly accelerated the adoption rate; today, Abyssinia Bank consistently registers up to 1,000 new digital accounts daily, with a significant majority of these accounts opened entirely without a physical branch visit, showcasing the power of self-service.

 In parallel, to further enhance the digital customer journey and reduce physical touchpoints, we successfully introduced digital Visa cards directly within our Apollo app. This innovation not only removes the need for physical plastic cards, aligning with our sustainability goals, but also dramatically speeds up the card issuance process, allowing customers immediate access to their financial tools.

The comprehensive paperless rollout represents a natural and impactful expansion building upon these previously established digital infrastructures. To further optimize cash management processes and minimize manual handling within branches, advanced cash recyclers and bulk deposit machines have already been strategically installed at selected high-traffic locations. Plans are well underway for the expanded deployment of these efficient machines across the entire branch network in the coming months, further enhancing operational efficiency.

A key feature designed to ensure universal accessibility and promote financial inclusion across Ethiopia is the system’s robust multi-language support. The entire banking system, from kiosk interfaces to digital receipts, seamlessly supports seven prominent languages: Amharic, Afan Oromo, Somali, Tigrinya, Afar, Sidama, and English. This ensures that our services are easily comprehensible and accessible to all customers, regardless of their linguistic background or educational level.

This initiative is not an isolated project but a strategic cornerstone that fully reflects the long-term direction Abyssinia Bank has been diligently working toward. It underscores our unwavering commitment to delivering faster, more efficient, and more convenient banking services, while simultaneously achieving a significantly lower operational burden through automation. By reducing reliance on paper, we are not only cutting down on direct costs but also contributing to environmental sustainability, which is a growing imperative for responsible financial institutions. 

We extend our sincere gratitude to all our internal teams whose hard work and dedication made this transformation possible, to our invaluable technology partners who provided crucial expertise and platforms, and most importantly, to our loyal customers for their trust and enthusiastic adoption of these new services. We eagerly look forward to building on this significant progress and continuing to innovate for the benefit of all.