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Coopbank Revolutionizes Digital Banking with Cash Recycler Machine and Dx-Valley 2.0

Cooperative Bank of Oromia (Coopbank) has taken a significant step forward in enhancing its digital service offerings with the launch of the Cash Recycler Machine (CRM) and the Dx-Valley 2.0 digital innovation incubation center.

The CRM is designed to provide seamless cash withdrawal and deposit services, operating continuously regardless of working hours or power outages. Equipped with its own battery and solar panels, the machine ensures uninterrupted service and improved accessibility compared to traditional ATMs.

“The CRM is a game-changer for our customers, providing convenient and reliable cash management solutions,” said Coopbank CEO Deribie Asfaw. “This is part of our ‘Digital First’ approach to address financial challenges and set new industry standards.”

Alongside the CRM, Coopbank has also unveiled the Dx-Valley 2.0, an expanded digital innovation incubation center. Building on the success of the previous Dx-Valley 1.0, the new center aims to nurture startups and drive innovation, contributing to the economic growth of the region through advanced digital solutions.

“Innovation and startups are crucial for the economic development of our country,” noted Deribie. “Dx-Valley 2.0 will provide the necessary support and resources to empower entrepreneurs and foster digital transformation.”

The launch event was attended by Awelu Abdi, Vice President of the Oromia Regional Government, who praised Coopbank for its commitment to supporting economic activities and preserving the community’s heritage and values through digital innovations.

Frizer Ayalew, Director of Bank Supervision at the National Bank of Ethiopia, also commended Coopbank’s efforts, highlighting the bank’s dedication to technological innovation and digital financial services.

These initiatives underscore Coopbank’s strategic focus on digital transformation, ensuring comprehensive and modern financial services for its customers.

Eden Teshome

Editor-in-Chief of Ethiopian Business Review (EBR). She can be reached at eden.teshome@ethiopianbusinessreview.net


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