NEWS
Network International extends partnership with EGBANK to transform ATM acquiring service
Network International has extended its ongoing strategic partnership with EGBANK to transform the bank ’ s ATM acquiring service . This partnership is a significant milestone in enhancing the banking experience for EGBANK ’ s customers and enabling the bank ’ s digital transformation with innovative solutions .
Implementing Network ’ s innovative solutions underlines the bank ’ s impact in the Egypt market by providing superior payment experiences
The partnership will leverage Network ’ s expertise to enhance EGBANK ’ s competitiveness in the Egyptian market . It also strengthens Network ’ s existing partnership with EGBANK with the introduction of payment technology and innovative solutions for enhancing consumer trust and convenience .
Hossam El Sholkamy , Deputy CEO of EGBANK , said , “ We are thrilled to enter a new phase of growth through the strategic partnership with Network International . Using Network ’ s expertise , we are shaping the market with new products and services that will facilitate our digital payment transformation , offering an elevated experience for our customers and emphasising our pivotal role in the Egyptian financial market .”
Dr Reda Helal , Group Managing Director Processing , Africa and Co-Head Group Processing at Network International , commented : “ We are excited to extend our existing partnership with EGBANK to transform digital payments for their customers in the ATM acquiring side of the business . Implementing Network ’ s innovative solutions underlines the bank ’ s impact in the Egypt market by providing superior payment experiences . We look forward to capturing the opportunities that lie ahead and achieving new heights of success by working together .”
EGBANK is the fastest growing bank in Egypt . Over the past seven years it has grown significantly at all levels , by doubling its assets and profits , as well as its network of branches and number of customers . EGBANK is the Bank of Youth since it launched a special platform for youth called MINT , and its main mission is to develop the skills and capabilities of Egyptian youth .
Data traffic across Angola Cables network hits record peak of 18,448 Tbps
The increase in digital content consumption , the rapid expansion of cloud computing services and the everrising demand for high speed , low latency connectivity are just some of the factors that have led to the record levels of traffic being registered across the Angola Cables network .
“ This milestone underscores Angola Cables ’ growing responsibility and responsiveness to customer needs in West African markets , with an emphasis on improved Service Level Agreements ,” said Fernando Fernandes , Chief Executive Officer for TelCables Nigeria , the local operation for Nigeria and West Africa countries of Angola Cables .
Rui Faria , Executive Board member and Chief Commercial Officer for Angola Cables , a global provider of network services and digital solutions said that many of the hyperscalers , content providers and other carriers have been using the South Atlantic configuration of the SACS , Monet and WACS cables as a convenient redundancy option to connect to destinations in the USA and the UK and Europe using EllaLink .
“ The recent cable faults experienced in parts of Africa and the Red Sea has resulted in large volumes of traffic being diverted to other cables . But apart from this , we have seen a steady and significant growth in overall traffic over our backbone network .”
“ At present the Angola Cables fibre network point is accounting for more than 70 % of the Internet and data traffic flows to and from Africa ,” notes Faria . “ Hyperscalers , streaming and gaming networks are using SACS as well as the Angola Cables ’ backbone and its partner networks to connect to Europe and Asia at lower latencies .”
Angola Cables has also registered a substantial uptick in traffic volumes over the Monet Cable connecting USA to South America , now accounting for over 20 % of the data traffic between North and South America .
Fernando Fernandes
14 INTELLIGENTCIO AFRICA www . intelligentcio . com