The Commercial Bank of Ethiopia (CBE) has launched an online platform enabling customers to link their accounts to the national digital identity system, Fayda, aiming to streamline the process and reduce reliance on branch visits. The platform allows users to securely connect their Fayda ID to multiple accounts, streamlining access and reducing the need for branch visits. The move comes three weeks after the National Bank of Ethiopia introduced VeriFayda 2, the updated electronic know-your-customer system, making linking a Fayda ID mandatory for new accounts and account consolidation. Customers without a Fayda ID must register at designated enrolment centres before completing the account linkage. The National Bank of Ethiopia and the National ID Program have set March 30, 2026, as the deadline for completing the integration.

Source: Ethiopian News December 31, 2025 16:48 UTC