Yonas Tibebu

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...