M-Birr Limited, an Irish company, announced last week that it had concluded an deal with the National Bank of Ethiopia and Ethio Telecom to start providing mobile banking solution to financial institutions through M-Birr ICT Services Plc, its subsidiary Ethiopia.

M-Birr will install two huge data centres here which will support and streamline the mobile banking services. M-Birr will also train the staffs of financial institutions for which it will provide the services, Thierry  Artaud, CEO of M-Birr Limited and general manager of M-Birr ICT services Plc, said.

The mobile banking service, also known as SMS banking or M-banking, allows clients to check their balance, make transaction and payments from their accounts, and perform credit application and other banking transactions from their cell phones.

M-Birr has signed a memorandum of understanding with five micro-financial institutions like Dedebit. It will also hold talks with private and state-owned banks to provide them with the latest technology in the banking sector, according to Artaud.

The company will launch the project with an initial investment of 1.5 million euro.

The partly implemented National Payment System in the country is said to be ideal in supporting and streamlining such services as mobile banking among financial institutions.

Source: The Reporter