(4 minutes read)
· Suez Canal Bank is taking the help of Temenos Infinity to digitize its customer relations and to add value to its retail, corporate and Islamic banking services/operations
· Temenos’ digital banking platform will help Suez Canal Bank drive its operation and expand the footprint in the country, where 40 million people are unbanked
· According to World Bank figures, Egypt’s population of 64.7 million people are largely dependent on cash with only 32.8% holding bank accounts
Suez Canal Bank is taking the help of Temenos Infinity to digitize its customer relations and to add value to its retail, corporate and Islamic banking services/operations. Temenos’ digital banking platform will help Suez Canal Bank drive its operation and expand the footprint in the country, where 40 million people are unbanked. Egypt is embarking on a scheme to bring more number of people into the purview of banking operations.
Temenos Infinity will provide a complete digital platform for Suez Canal Bank, covering the entire customer lifecycle from customer on-boarding, account opening and digital servicing. The bank is introducing new products to market faster, accelerate digital customer on-boarding and increase front office efficiency to achieve a market-leading cost-income ratio.
By leveraging mobile devices and advanced technologies like new Chabot service based on Artificial Intelligence (AI), Suez Canal Bank aims to accelerate the shift from serving customers in branch to its digital channels to help the bank achieve its strategic goals to grow and deliver more value added services to its customers and shareholders.
Cairo-Based Suez Canal Bank is among the top 10 banks in Egypt with over EGP50 billion in assets. It has 48 domestic branches offering personal, corporate and Islamic banking products and services, including customized banking solutions to meet the needs of small and medium enterprises (SMEs).
According to World Bank figures, Egypt’s population of 64.7 million people are largely dependent on cash with only 32.8% holding bank accounts. The Suez Canal Bank’ aims at achieving a seamless growth with the new partnership and is in the process to upgrade its banking system.
