Banque du Caire has selected Temenos T24 core banking software to help drive its vision of becoming the regionâ€™s leading bank.
The T24 core banking option will replace the Egyptian bank's current solution.
T24 will be deployed with Temenos solutions for channels, financial crime mitigation, front office, payments, and risk and compliance.
Banque du Caire will use the technology to drive its growth strategy and provide cutting-edge banking services to its 2.7 million customers in Egypt.
The bank plays a key role in financing important sectors of the national economy via the syndicated loans, which serve different sectors, and by financing SMEs and microfinance projects.
â€œBanque du Caire is capitalizing on its strong positioning in the market to accelerate its growth levels in the coming years,' said Tarek Fayed, Chairman and CEO at Banque du Caire.
â€œThe partnership with Temenos will help the bank in achieving its objectives by upgrading its technological platform in attempt to introduce up-to-date digital financial services.
â€œCollaborating with fintech solutions through open banking that goes in line with the CBE endeavours to develop and support the country's financial inclusion strategy providing the latest global standards in such field.
â€œBDC digital financial solutions will bring to our customers a highly responsive service, tailored products and a truly customer-centric experience.'
Jean-Paul Mergeai, regional director of MEA at Temenos, added: â€œTemenos is excited to have been chosen by Banque du Caire as one of [its] primary technology partners to expand through innovation and operational excellence, and to transform the bank from a product-centric to a customer-centric model.
â€œThis strategy aligns perfectly with Temenos' vision, which has enabled us to develop a packaged, upgradeable and innovative core banking platform, which is used by more than 1,000 financial institutions globally.'
SIGN UP TO OUR NEWSLETTER TO RECEIVE MORE NEWS LIKE THIS STORY
Monese urges holidaymakers to shop around for their bank to save money abroad
Brits travelling abroad have been encouraged to save money by shopping around for bank accounts...
Tandem introduces healthy balance feature
Digital bank Tandem has announced the launch of a new healthy balance notification feature on its banking app...
The Access Bank UK joins Bacs
The Access Bank UK has been announced as the latest brand to join Bacs Payment Schemes Limited (Bacs)...
Nearly 75,000 SMEs supported through BBB programmes
The British Business Bank (BBB) has reported that the total stock of finance provided through its programmes in the last financial year rose by 33% to £12.25bn...
Close Brothers’ banking division reports 6.6% loan book growth
Close Brothers Group PLC has revealed that its banking division has seen a 6.6% growth in its loan book in the 11 months to 30th June 2018...
Leeds introduces two-year fixed rate BTL product
Leeds Building Society has launched a two-year fixed rate buy-to-let (BTL) mortgage product as part of a wider refresh of its 70% LTV BTL range...
Just 20% of Brits would opt for a challenger bank
Only 20% of UK residents would opt for a challenger bank if they were opening a new account today, according to research from Equifax...
Santander to form digital investment banking team
Banco Santander has announced that a new digital investment banking team will be formed within Santander Corporate & Investment Banking...
Metro Bank introduces developer portal
Metro Bank has launched a new developer portal for FCA-registered third parties wishing to build services on top of its APIs...
Wesleyan Bank appoints new head
Wesleyan Bank has appointed David Brownbill (pictured above) as its new head of indirect sales...
Arbuthnot announces profit surge
Arbuthnot Banking Group has reported a half-yearly profit before tax of £3.5m for the six months to 30th June 2018, up from the £2.5m recorded during the same period last year...