Page 4 - Abyssinia Business Network ABN August 2019

Editorial Team ABN : The Unfaithful ATM
MANAGING DIRECTOR It has been a few years since banks in Ethiopia started
Daniel Tiruneh using automated teller machine (ATM), which is an
MANAGING EDITOR electronic telecommunications device that enables
Getachew Alemu customers of financial institutions to perform financial
EDITOR IN CHIEF transactions, such as cash withdrawals, deposits,
Aklile Tsige transfer funds, or obtaining account information, at any
CONSULTANCY time and without the need for direct interaction with
Zeima Ahmed bank staff.
STAFF WRITERS In the late July and early August 2019 customers of the
Mekonnen Hailu
Ketema Kebede Commercial Bank of Ethiopia got upset and confusedas
Chacha its ATMs failed to show balances and transactions, web
Hiwot Salelew log-ons were rejected, and smartphone apps displayed
Teshome Fantahun errors.
REPORTER The problem which the Bank’s official and staff said
Josephine Wawira is caused due to “system failure” was likely to cause
Kamba Anthony hindrances in the financial transactions and market
Joseph Oduha exchange across the country; people were stranded to
Designer perform financial activities as they were denied access
Daniel Tiruheh to get back their own money.
Photo
Sol Image This recent technology is, indeed of great importance
Web Admin in terms of its time-saving and efficient service delivery
Rahel Tesfaye features; however, if it denies customers’ money
Distribution whenever they are badly in need of it, it’s totally an
Hailu Abesse institution failure instead of system failure.
Partners The bank’s system failure during this specified time
Ethiopia Culture And Tourism was so serious since it was almost pay day’s moment,
Addis ababa police Commission and caused some to ask whether the banking systems
Ethio Great Investment Support Service PLC they depend on are too fragile.Customersare usually
Abyssinia Business Network is published by told that the Bank continually reviews and updates its
EYUDAN MEDIA PLC systems as necessary and make significant investment
business license no .KK/AA/14/706/661438/2009 to do this.
Address
Kirkos Subcity ,Wereda 02 , House No 545/B In deed several banks in US, UK and other European
Meskel Flower
Disclaimer: countries have suffered a series of IT problems over
Abyssinia business network monthly magazine welcomes the past few years. In December 2018, an estimated
opinions, comments and letters. Comments, opinions and 750,000 customers at the Royal Bank of Scotland
letters are sole responsibility of the author and does not in any group were unable to use their credit and debit cards
case represent the position of the magazine. for several hours but the case in our CBE service takes
days if not weeks, to bring the system back soon.
For News, Advertisement, Views and Features on this
Magazine The irony is that here in Ethiopia the more we embrace
Contact us the digital wallet, the more emergency cash we may
+251 975 700859, +251 945 443450 need to carry for when these systems crash.
+251 963 175 550 The technical fault has now been fixed, and the
mixmediadani@gmail.com
eyudanmixdani@gmail.com banking group has apologized to those affected.
info@abyssiniabusinessnetwork.com May the Almighty God be with them to restructure
WWW.Abyssiniabusinessnetwork.com their IT systems so that CBE customers wouldn’t get
exasperated and confused.
02 Abyssinia Business Nework ነሃሴ 2011 / August 2019