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Banque Misr Offers “Express” Loan, the First Digital Loan in Egypt for Small Enterprises at Cairo ICT 2020

In keeping with its long-held tradition, Banque Misr participated in the 24th session of Cairo ICT 2020, held at the international exhibition center in New Cairo from 22nd – 25th November 2020. The Bank has always been keen on participating in this annual event, considered the main platform through which various institutions and corporations compete to showcase the latest projects and technology solutions in the attendance of thousands of visitors.

On the sidelines of the event, Banque Misr offered the “Express” loan for small projects, which is considered the first integrated digital product launched through the Bank’s Digital Transformation Sector – a first in digital banking transformation. This product allows Banque Misr’s small projects customers to submit a financing application online via the website, without the need to visit the branch, on a step-by-step basis at minimum procedures. The small project financing loan is the fastest loan in Egypt and can be obtained within 5 days from the date of submission, subject to applicable terms and conditions.

Banque Misr had participated in the event via its state-of-the-art pavilion, through which it showcased  to visitors the various services and products, with the assistance of a highly trained team to promote retail banking products and other digital banking services. These include BM Wallet and the internet and mobile banking service BM Online. Worth noting is that Banque Misr is planning to introduce the new generation of internet and mobile banking services BM Online by providing the latest developments and technological innovations in the fields of banking, which provide a better experience for customers and an infrastructure that enhances the rendering of banking services.

This comes in line with the current developments in the field of communication and information technology and owing to Banque Misr’s belief in the pioneering and effective role of this sector in driving economic and social progress and prosperity of the community. The Bank maintains a sophisticated network of ATM machines – numbering some 3000 ATMs – offering withdrawal and deposit services, currency exchange, bill payments, donations and other services. The Bank also allows customer communication around the clock through its social media pages including Facebook, Twitter and Instagram.

For the first time in Egypt, Banque Misr has adopted Artificial Intelligence technologies to offer a Chat Bot service through its website, while also launching WhatsApp for Business to serve customers around the clock. These interactive services are considered a step forward towards digital transformation, where customers can engage in interactive conversation without queuing. This reflects on the speed and flexibility of customer service to improve the efficiency and to streamline the service. Customers can also reach the bank via email on  as well as by SMS on 01019888000.

Banque Misr offers a comprehensive suite of online banking services in support of digital transformation, such as including but not limited to, BM Online, which offers various electronic banking services that fulfil the needs of customers any time, anywhere. This is in addition to BM Wallet, which allows users to transfer funds via mobile phone, while offering a safe payment channel for paying bills, charge cards and other services. The wallet also allows customers to transfer funds to any other wallet in Egypt, as well as withdraw and deposit funds via more than 8,000 ATMs around the country and via more than 90,000 Fawry outlets.

The Bank is considered the first to provide purchasing through POS and websites via QR Code for mobile wallet customers and was also the first bank in Egypt to automate small and microfinancing, for rendering the service immediately. Banque Misr is keen on providing banking services to different social segments through multiple channels, including the wide network of its branches that amount to more than 700 branches covering Egypt, making Banque Misr the closest to customers wherever they may be. This is in addition to the Bank's international and regional presence in the UAE, UK, Lebanon, France, Germany, China, Russia, and South Korea (Seoul). In the near future, the Bank aims to expand to Italy (Milan), Kenya (Nairobi), as well as some other African countries; while simultaneously maintaining an extensive network of correspondent partners covering the rest of the world.

Banque Misr always strives to support digital transformation efforts by providing innovative electronic solutions to facilitate customers' needs,  in a way that contributes to providing banking and financial services in a seamless and advanced manner. The Bank consistently seeks to improve its services, maintain its long-term success and effectively participate in offering services that fulfil the needs of its customers. This is since the values and strategies of Banque Misr reflect its commitment and dedication to sustainable development and to achieving prosperity for Egypt.