Dashen Bank Unveils Ethiopia’s First Banking Super App

Dashen Bank has launched a banking super app, providing an all-in-one banking solution that is a first for Ethiopia’s banking sector. Developed in partnership with EagleLion System Technology, the bank celebrated the app's launch during a high-profile event on Tuesday night at the Sheraton Addis Hotel.

According to the bank, the supper app is designed for "speed, reliability, and customer satisfaction." The app integrates personal and business banking into a single intuitive platform, offering features such as access to multiple accounts and a range of Sharia-compliant, interest-free banking options.

Additional functionalities include a budget management tool, chat features, and third-party merchant integrations branded as "Three Click Shopping," enabling customers to purchase products and services with just three clicks.

The super app is being rolled out in phases. The second phase will introduce microloans based on transaction history. An AI-powered self-onboarding process that verifies customer identity is also in the pipeline. Currently, users must visit branch offices to activate their accounts.

"With the Dashen Bank Super App, we are enhancing our digital banking services. We remain committed to delivering innovative, up-to-date, and reliable digital banking solutions in collaboration with strategic partners,” said Asfaw Alemu, CEO of Dashen Bank.

In November 2024, the National Bank of Ethiopia approved digital (remote) customer onboarding for opening bank accounts, provided all required information is collected.

Dashen Bank launched the Amole platform in 2018 in partnership with Moneta Technologies. The omni-channel financial platform functioned as both a mobile banking and mobile money service, earning 5.57 million users as of June 2024.

Since initiating a collaborative partnership with Ethio Telecom in the digital lending space, the bank has granted digital loans to 1.3 million customers via telebirr. It also introduced a Buy-Now-Pay-Later product, DubeAle, in early 2023, allowing users to purchase goods and services on credit.

EagleLion is one of the major players in Ethiopia’s digital financial ecosystem, partnering with banks and other institutions to launch various digital platforms, including Ethio Direct, Cash Go, Nedaj, and Get Rooms.

Currently, there is a rise of super apps in banking, integrating financial and lifestyle services. Superapps are characterized by their ability to deliver a wide range of services within a single application, providing an ecosystem that addresses multiple consumer needs. In the financial sector, super apps integrate services such as banking, payments, investments, and insurance, creating a digital ecosystem that enhances user convenience and engagement.

Ethio telecom upgraded its telebirr app into a super app in March 2023.