A forum focused on digital banking organized by Temnos was held in Addis Ababa.
At the forum, various Ethiopian banks presented their activities in the field of digital banking.
Minister of State for Innovation and Technology Yishrun Alemayehu (PhD) said that in order to be competitive in the digital world, banks must focus on digital technologies.
The Minister of State mentioned that digital payment is one of the pillars of the Digital Ethiopia 2025 strategy and explained that banks should focus on the development of new digital technologies from account management to security to satisfy the needs of their customers.
Temnos Middle East and Africa Managing Director Lee Alcorn said digital banking is a do-or-die issue in the banking industry.
It is said that due to the spread of digital technology, the security of the information network is one of the threats, so it is said that it should be focused on the security of the information network.
Gaps in infrastructure, digital technology skills and network security were also discussed.