COUNTRY FOCUS : EGYPT

The United Bank of Egypt has embarked on a far-reaching Digital Transformation , reinventing systems and processes . Ahmed Helmy , CIO , United Bank of Egypt , shares with Intelligent CIO Africa why it was important for the bank to embark on this Digital Transformation journey .

The United Bank of Egypt was established with a vision to drive financial stability and increased economic growth in Egypt . The bank has a particular focus on the small and medium-sized enterprise ( SME ) market and aims to become a leader in this sector and the country ’ s top local bank .

Ahmed Helmy , CIO , United Bank of Egypt , said : “ We are keen to grow our business and widen the range of products and services that we offer to retail and corporate customers . At the same time , we want to ensure that this expansion does not come at the cost of profitability or compliance . We are determined that going digital-embracing

Internet and mobile banking services alongside our existing branch networkoffers an ideal way to achieve our goals . With digitalisation , we can bring compelling banking services to market quickly and cost-effectively , improving the customer experience and our competitive advantage .”

The United Bank recognises that a strong technology foundation is key to fulfilling these ambitions . With stable , efficient systems and processes in place , the bank can grow in a cost-effective way and ensure compliance with Islamic banking standards and regulatory requirements . “ To achieve our goals of delivering new digital services , we first needed to renovate our underlying technology infrastructure ,” said Helmy . “ Existing processes were overly complex , which dulled efficiency and made it difficult for us to launch new services quickly . This drove us to review our entire IT landscape , with the aim of streamlining and modernising end-to-end operations .”

The Solution

United Bank of Egypt has been working with Finastra since its inception in 2006 . With its sights set on a major digital strategic transformation , the bank turned to Finastra .

Helmy explained that : “ Finastra was the ideal partner to help us revolutionise our business . The high degree of functionality

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