Bank of Abyssinia Launches Paperless Banking Service at New Ras Special Branch
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The Bank of Abyssinia has officially launched its newest innovation, a fully paperless banking service, at the newly established Ras Special Branch in Addis Ababa.
The unveiling of the Bank of Abyssinia new paperless banking service was presided over by the Governor of the National Bank of Ethiopia, Ato Mamo Mehret, and the CEO of Abyssinia Bank, Ato Bekalu Zeleke, alongside top executives, employees, and invited guests.
The new paperless banking service allows customers to carry out core banking transactions such as fund transfers, cash deposits and withdrawals, account openings, and other branch services either independently or with assistance from staff.
The service is powered by smart kiosks and tablets, integrated with fingerprint and facial recognition technologies, enabling faster, more secure, and transparent operations by eliminating paperwork and reducing procedural delays.
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The Ras Special Branch is the first to offer this system, and the bank has already begun deploying cash recyclers and bulk deposit machines at selected locations. These devices allow for queue-free self-service and will soon be rolled out across all Bank of Abyssinia branches, supporting a shift toward modernized branch banking.
To ensure accessibility and inclusivity, the Ras Special Branch paperless banking service is available in multiple national languages including Amharic, Afan Oromo, Somali, Tigrinya, Afar, Sidama, and English.
The interface is designed to be user-friendly for a wide demographic, accommodating both tech-savvy users and those with limited digital experience, regardless of age or education level.
A Leap Toward Digital Banking
The introduction of the paperless banking service is part of the Bank of Abyssinia’s broader vision to align with global trends in digital banking and support Ethiopia’s move toward a cashless economy.
The bank, by eliminating traditional paper-based processes, aims to streamline operations, reduce costs, and improve service delivery in a highly competitive market.
The system enables biometric authentication, replacing physical signatures and manual identity checks. This improves security and accelerates transaction processing. Customers can now perform transactions like account openings, deposits, withdrawals, and fund transfers efficiently, whether on their own or with guidance from bank staff.
Environmental and Operational Benefits
The shift to paperless banking has a clear environmental impact, helping to reduce the bank’s reliance on printed materials such as transaction slips, account forms, and passbooks, which traditionally generate large volumes of waste.
From an operational standpoint, the bank benefits from automation of repetitive tasks, allowing employees to redirect their attention to customer engagement, such as financial advisory services or loan consultations.
Jefferson Wachira is a writer at Africa Digest News, specializing in banking and finance trends, and their impact on African economies.
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