Lion
International Bank and Somali Micro Finance in partnership with BelCash
Technology Solution PLC launched the official pilot of the HelloCash
mobile money services.
BelCash Technology Solution PLC is an Ethiopian based technology service provider for financial industry.
The
HelloCash mobile money platform will provide financial services to all
Ethiopians. The HelloCash service enables existing and potential
customers of Lion International Bank and Somali Micro Finance to carry
out transactions in four key areas of financial transactions: Deposit,
Withdraw, Transfer and make payments. The HelloCash mobile money service
is provided in compliance with National Bank of Ethiopia's directives
on mobile money.
The
pilot of HelloCash mobile money service is underway in three part of
the country with locations consisting of a mix of agent outlets and
branches.
HelloCash
Mobile Money would make financial services available to more Ethiopian,
especially at the grassroots in order to drive financial inclusion in
the country.
One
of the uniqueness of HelloCash mobile money services is its
interoperability and shared infrastructure features. The system is
designed for multi banks and MFI's to be interconnected and offer the
mobile money service to their respective customers, therefore,
partnering financial institutions are able to share each other's agent
and branch network to serve each other's customers.
This
allow any customers of any partnering bank to visit any agent or
branches to conduct financial services regardless of which bank
customers belongs too. The sharing of agent network allows partnering
banks to optimize their investment as well as increase national wide
service coverage.
CEO
of BelCash International, Mountaga Vince Diop mentioned that this is
only the beginning of what seems to be an irreversible step to reinforce
Financial Inclusion in the country.
BelCash
Technology Solutions PLC provides the Banks and the Micro Finances,
Go-to-Market turn-key mobile money solutions (including capacity
building, business and operational models, hardware, disaster recovery
and Call center facilities) and facilitate the penetration of Mobile and
Agent Banking in the Ethiopian Financial landscape.
The
Financial Institutions providing HelloCash in Ethiopia are confident to
build a unique network of more than 20.000 agents across all Ethiopia
within the 3 coming years.
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