Mereja Forum

[temari]

[temari]

[DefendTheTruth]

This is another move in the direction of digital transformation (digital platform) of the national economy. The question is if the country is ready for the transformation, it has its own challenges, I think.

I don't know well how many ATM machines are out there before moving to the next generation of technological innovation of ITM?

Security, customer satisfaction and the infrastructure (especially in the rural areas), to mention few.

Training the customer base (mostly rural areas of semi illiterate society) to interact well with the virtual teller could be another challenge.

What will happen if I already enter my data and then the power goes down, not only of the machine but also of the surrounding area, to get the service outside of the normal operation time of the bank. Could I be exposed to a danger of robbery after drwaing the money from bank by some dureyyes (police can be part of the scheme)?

[temari]

This is another move in the direction of digital transformation (digital platform) of the national economy. The question is if the country is ready for the transformation, it has its own challenges, I think.

I don't know well how many ATM machines are out there before moving to the next generation of technological innovation of ITM?

Security, customer satisfaction and the infrastructure (especially in the rural areas), to mention few.

Training the customer base (mostly rural areas of semi illiterate society) to interact well with the virtual teller could be another challenge.

What will happen if I already enter my data and then the power goes down, not only of the machine but also of the surrounding area, to get the service outside of the normal operation time of the bank. Could I be exposed to a danger of robbery after drwaing the money from bank by some dureyyes (police can be part of the scheme)?

ATM is are now used widely especially in bigger cities like Addis Ababa and also in regional cities. Majority of banks have their own machines but I think commerce bank has the most (in thousands already). I don't think we are ready to install ATMs in rural areas though. Security should not much of a concern, I don't know when you were in Ethiopia. At least in Addis Ababa people come out of a bank full of sack of money and no one bothers to rob them. I was also puzzled at first in my last visit. So that is not a big issue. And if you enter your data and something happens, that is not an issue. Normally banking transaction or any kind of IT transaction is atomic, meaning the process is executed as a whole and fully or the transaction will be rolled back if anything goes wrong. It is almost impossible for you not to get your money while your bank account shows you have withdrawn.

[Sam Ebalalehu]

Bank of Abyssinia is not going to be an exclusively virtual bank. The traditional banking will continue. But the bank offers online services as well. People deposit, withdraw , and transfer money online. Even in US banks that offer virtual banking extensively have not shut their doors altogether. People still go to banks to get service. I do not know exactly how many percent — I know it is a significant percent — of Americans do not have bank account, but there are. For them virtual banking is meaningless. It is the same for Ethiopians who have no bank account.
Virtual banking is continuing in replacing the activities of traditional banking. Bank of Abyssinia should be applauded for being the trendsetter in Ethiopia.

[DefendTheTruth]

Normally banking transaction or any kind of IT transaction is atomic, meaning the process is executed as a whole and fully or the transaction will be rolled back if anything goes wrong.

I think we are talking about two different issues, I was trying to raise the undependability of the power supply, not the execution of the software program itself.

That is why I added the phrase "not only of the machine but also of the surrounding area".

I have made an experience here in the west, where I was served the money by the machine but then the box where the cash lies in refused to open its case. My card was already ejected after processing the transaction (the software was okay) but then the case (money compartment) refused to open, for whatevver mechanical malfunctioning, I think.

Lackily I called the branch office of my bank account on the next day and they agreed to pay me the money if the count in the machine may happen to differ from the calculated balance, with the help of the camera installation over the machine, of course (after calculating the balance). But this is a sort of an exceptional case, which shouldn't hinder the effor to introduce the machine, i was just trying to raise the case of power and security (not only human based but also cyber security, where we have people shouting day in and day out about Ethiopia having a cyber security facility, for example Ermias Legesse, lol).