Suez Canal Bank Partners Temenos AG in bid to Transform its Digital Banking Service

Geneva-based global banking software company, Temenos AG, announced earlier today that one of its services (Temenos Infinity) has been adopted by Suez Canal Bank, as part of the Egyptian bank’s efforts to transform the digital customer experience for its customers whilst ultimately driving sustainable growth and financial inclusion.

By making banking products and services more accessible on mobile and leveraging advanced technologies such as AI for a new Chabot feature, Suez Canal Bank aims to accelerate the shift from serving customers in branches to its digital channels. This will help the bank achieve its strategic goals of growing sustainably and delivering more value to customers and its shareholders.

Suez Canal Bank’s Chairman and Managing Director, Hussein Refaie, was quoted as saying that “we are delighted to partner with Temenos to take our digital banking to the next level. Temenos is the market-leader in digital banking technology and has a strong local presence and record of success with banks in Egypt and the MEA region. Enabling and building engagement with our customers via digital channels is a key growth driver that will help Suez Canal Bank to attract a new generation of customers. This is a priority to support our growth plans but also as a boost to financial inclusion in Egypt.”

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Based in Cairo, Suez Canal Bank is in the top 10 banks Egypt with over EGP50 billion in assets and a network of 48 domestic branches. It offers personal, corporate and Islamic banking products and services, including customized banking solutions to meet the needs of small and medium enterprises (SMEs).

Note that Egypt’s population of 64.7 million people over the age of 15 largely depends on cash for transactions according to the World Bank. Only 32.8% of Egyptians within this population group hold bank accounts. In view of this, Temenos Infinity will make it possible for Suez Canal Bank’s customers will to enjoy a seamless and frictionless digital experience when managing their cards and accounts, paying bills and other payments, applying for new products and services and engaging with the bank via chat – all from their mobile device.

Learn more about this partnership/arrangement by visiting Suez Canal Bank’s website right here.