Yonas Tibebu

The global financial landscape has always been cyclical growth, disruption, and recovery. Yet, the speed and interconnectedness of today’s economy mean that shocks no longer stay local; they ripple across borders in seconds. From the 2008 financial meltdown to the COVID-19 liquidity crunch and the geopolitical tensions reshaping trade and currency flows, every crisis has left behind one undeniable truth: 👉 Resilience isn’t built during stability; it’s tested in uncertainty. 1️⃣ Fragmentation Is the New Reality Globalization once promised efficiency and open trade. Now, economic nationalism, sanctions, and regional conflicts are redrawing the map of financial connectivity. For countries like Ethiopia integrating into the global financial system while strengthening domestic infrastructure this fragmentation presents both vulnerabilities and opportunities . 2️⃣ Lessons from Past Crises Liquidity matters more than leverage. In every global shock, institutions that maintained ...

Cross-border payments are the arteries of global commerce yet, for decades, they’ve been slow, expensive, and opaque. From SWIFT messaging to correspondent banking chains, friction has long been part of the cost of doing business internationally. But the world is shifting. As globalization meets digital transformation, we’re entering the era of Cross-Border Payments 2.0  where technology, policy, and partnerships are converging to make money move as fast and easily as information. From SWIFT to Smart Connectivity For over 50 years, SWIFT has been the backbone of international payments reliable but not real-time. With multi-hop networks, settlement delays, and high fees, it wasn’t built for the instant digital economy. Now, new models are emerging : Instant payment corridors connecting domestic real-time payment systems. API-based connectivity between banks, fintechs, and switches. Interoperable regional networks like the Pan-African Payment and Settlement System (PA...

In today’s digital economy, money is moving faster than ever but so are threats. As instant payments, digital wallets, and embedded finance become the norm, cybersecurity is no longer just a support function, it’s the foundation of trust in financial ecosystems. Payments Without Borders, Risks Without Boundaries Real-time transactions mean less time to detect fraud. Open Banking APIs create more integration points and more attack surfaces. Cross-border payments amplify risks with varying regulations and uneven security standards. When every transaction is digital, trust becomes the most valuable currency . Without it, customers hesitate, regulators tighten, and innovation stalls. The Trust Equation in Digital Payments Security = Prevention : Encryption, Zero Trust, fraud detection, and endpoint protection. Resilience = Recovery : Ability to bounce back from cyber incidents without disrupting customer experience. Transparency = Confidence : Open communication a...

The rise of digital wallets has turned payment systems into battlegrounds where banks, fintechs, and telcos are all vying for dominance. What began as a convenient way to store cards on mobile devices has now become the frontline of financial innovation and competition. The Global Battlefield Big Tech’s Expansion : Apple Pay, Google Pay, and PayPal are redefining how consumers interact with money embedding payments into devices, browsers, and platforms. Fintech Innovators : Players like Revolut, GrabPay, and Alipay are transforming wallets into super apps with lending, investing, and even insurance. Banks’ Response : Traditional banks are building their own wallet solutions, though often struggling with agility and user adoption. What Makes Wallets Powerful? Convenience : One tap to pay. No cards, no cash. Ecosystem Play : Wallets connect payments, loyalty, lending, and lifestyle services. Data Advantage : Every transaction fuels analytics, enabling hyper-personal...

Introduction: From Cash to Clicks Ethiopia has long been a cash-driven economy, but the past few years have shown remarkable progress. Mobile money platforms like Telebirr , interoperability efforts driven by EthSwitch , and government-led digital strategies are reshaping how people pay. Yet the next leap is not just about “digital” it’s about making payments instant, invisible, and interoperable . 1. Instant: No More Waiting Days For decades, payments in Ethiopia meant queues, delays, and paper-based reconciliations. But that’s changing: EthSwitch has already enabled instant switching between banks. Mobile wallets now allow faster peer-to-peer transfers. The government’s Digital Ethiopia 2025 strategy prioritizes instant and inclusive payments. For merchants, instant payments mean better cash flow. For farmers or SMEs, it means getting paid immediately after a sale. For workers, it reduces dependency on informal credit. 2. Invisible: Payments That Fade into the Backg...

The global financial landscape is on the cusp of a profound shift. Central Bank Digital Currencies (CBDCs), once a theoretical concept, are now actively explored or piloted by more than 130 countries. For emerging markets, the stakes are especially high: CBDCs could unlock financial inclusion, improve cross-border payments, and modernize monetary policy. Yet, alongside the opportunities lie risks that demand careful governance, collaboration, and technological foresight. Opportunities for Emerging Markets Driving Financial Inclusion In regions where millions remain unbanked, CBDCs could provide direct access to digital money without requiring a traditional bank account. For example, a CBDC wallet could allow rural citizens to receive government subsidies, remittances, or salaries securely and instantly. Enhancing Cross-Border Payments Cross-border transfers in emerging markets are often costly and slow. CBDCs offer the potential for faster, cheaper, and more transparent settleme...

For years, “Zero Trust” has been marketed as the silver bullet for cybersecurity. But in the world of real-time payments, cross-border transactions, and open banking , Zero Trust is no longer optional. it’s a requirement . The principle is simple: “Never trust, always verify.” But execution in payment systems is complex. Why Payments Can’t Afford Blind Trust High-Value Targets – Payment systems are the crown jewels for cybercriminals. Expanding Attack Surface – APIs, mobile wallets, and fintech integrations open new entry points. Insider & Third-Party Risks – Compromise doesn’t always come from outside the firewall. Regulatory Pressure – Global regulators (EBA, Fed, African central banks) are emphasizing Zero Trust-aligned controls. What Real Implementation Looks Like Identity-Centric Security Strong multi-factor authentication (MFA) across all users (customers, employees, vendors). Continuous verification with risk-based access controls. Micro-S...

Banks, payment providers, and fintechs increasingly depend on third-party vendors for everything from cloud infrastructure to cybersecurity tools. But as reliance grows, so does the risk surface . Regulators are making it clear: outsourcing does not mean offloading accountability. Hidden Risks in Vendor Relationships Concentration Risk – Too much reliance on a single cloud or IT service provider. Data Security Gaps – Vendors mishandling sensitive customer data or failing to meet security baselines. Operational Disruptions – Outages, supply chain failures, or misconfigurations impacting business continuity. Compliance Blind Spots – Vendors failing to meet AML, GDPR, or local regulatory requirements. Fourth-Party Risks – The hidden vendors your vendors rely on, often overlooked. What Regulators Expect in 2025 Enhanced Due Diligence – More rigorous risk assessments before onboarding vendors. Ongoing Monitoring – Continuous oversight, not just annual review...

Cybersecurity has always been an arms race. But with the rise of generative AI , we’ve entered a new era where machines fight machines . Attackers are no longer just hackers behind screens, they’re training AI models to craft phishing campaigns, write malware, and bypass defenses faster than ever. Offensive AI in Action Automated Phishing : Hyper-personalized emails that look indistinguishably real. Malware-as-a-Service : Code generated on demand, polymorphic and harder to detect. Deepfakes & Social Engineering : Fake voices and videos weaponized for fraud and manipulation. Defensive AI Strikes Back Luckily, defenders aren’t standing still. Generative AI is powering: AI-Driven SOCs : Automating incident response and threat hunting. Behavioral Analytics : Identifying anomalies that humans and rules can’t catch. Predictive Defense : Anticipating attacks before they happen with AI-powered simulations. The Trust Dilemma Here’s the paradox: AI makes security s...

In today’s interconnected economy, cross-border payments are the arteries of global trade, remittances, and digital commerce. Yet, for all their importance, they remain complex, slow, and expensive  especially for developing regions. As Africa’s digital economy grows and national switches evolve, now is the time to rethink the future of cross-border payments. 🚧 Challenges in Cross-Border Transactions Despite advances in fintech, many persistent challenges remain: High Costs : Especially in remittance corridors to sub-Saharan Africa, transaction fees can exceed 7–10% . Settlement Delays : Payments can take days due to multiple intermediaries and time zone differences. Lack of Transparency : Senders and receivers often don’t know how much will be received or how long it will take. Regulatory Fragmentation : Differing AML/CFT standards, currency controls, and compliance regimes add friction. Limited Interoperability : National switches and payment systems often oper...

In today’s fast-paced financial ecosystem, customer experience (CX) has moved from being a support function to a core driver of competitive advantage. With digital-savvy consumers expecting more intuitive, seamless, and responsive services, the banking industry is shifting toward hyper-personalization —powered by artificial intelligence (AI) and advanced data analytics. 🧭 From Personalization to Hyper-Personalization Traditional personalization may greet customers by name or recommend products based on broad demographics. But hyper-personalization goes several layers deeper. It leverages real-time data, behavioral insights, and contextual intelligence to tailor financial services for each individual—moment by moment. Imagine receiving a spending alert that also recommends ways to cut costs, or a credit offer aligned precisely with your income cycle and goals. That’s the promise of hyper-personalization. 🤖 AI as the Engine Behind Next-Gen CX AI is not just a buzzword—it’s the ...

In an era of economic shocks, geopolitical tensions, cyber threats, and rapid digitalization, payment systems sit at the heart of financial stability. From the 2008 global financial crisis to COVID-19 and recent regional conflicts, one truth remains clear: Resilience isn't optional — it's essential. “When trust in money is shaken, the backbone of economies bends.” 1. What Global Financial Crises Have Taught Us 2008 Financial Crisis : Over-reliance on centralized institutions, lack of transparency, and contagion risk through interconnected banks. COVID-19 Pandemic : Acceleration of digital payments, yet exposure of digital divides, operational continuity gaps, and third-party dependencies. Russia-Ukraine Conflict & Sanctions : Reinforcement of financial sovereignty , alternative rails (e.g., CIPS, SPFS) , and cross-border interoperability tensions . SVB & Credit Suisse Bank Shocks (2023): Showed fragility in liquidity management and the importance of real-...

The financial services industry is undergoing a profound transformation. While digital innovation accelerates, regulation is evolving just as quickly no longer trailing innovation but actively shaping its direction. For institutions navigating this shifting landscape, compliance is no longer a checkbox it is a catalyst for trust, innovation, and growth . Emerging Regulatory Trends 1. Open Banking and API Governance Governments and central banks are laying the foundation for secure data-sharing ecosystems. Open Banking frameworks demand strong API standards , customer consent protocols , and interoperability between banks, fintechs, and third-party providers. Why it matters: A regulated Open Banking environment encourages competition, improves customer experience, and promotes financial inclusion. 2. Data Privacy and Protection Inspired by regulations like the EU’s GDPR and similar data protection laws in Kenya, Nigeria, and South Africa, financial institutions must implement rob...

The digital wallet revolution is not just reshaping how people pay it's redefining how they engage with the entire financial system . From Telcos like Telebirr to tech giants like Apple Pay and fintechs like M-Pesa , digital wallets are fast becoming the go-to interface for everyday finance. For financial institutions and payment system operators, this shift presents both a challenge and an opportunity. 🌍 Why Digital Wallets Are on the Rise Several forces are driving the growth of digital wallets globally and regionally: Smartphone Penetration : More users now own a smartphone than ever before, unlocking app-based financial tools. Unbanked & Underbanked Populations : Digital wallets offer an entry point for financial services without the need for a traditional bank account. Contactless Payments : COVID-19 accelerated the adoption of tap-and-go, QR-based, and tokenized payments. Platform Ecosystems : Wallets are often embedded into super apps (e.g., eCommerce, r...