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.

“Banque 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.

“The 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.

“Collaborating 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.

“BDC 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: “Temenos 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.

“This 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.'