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Union of Arab Bankers Awards Banque Misr “Best Digital Innovation Bank – Egypt 2020/2021”
The Union of Arab Bankers awarded Banque Misr the accolade for “Best Digital Innovation Bank – Egypt 2020/2021”, during a ceremony held in Beirut, Lebanon on Saturday, 29th May 2021 for announcing the financial institutions that had won various awards throughout the year. The event was witnessed by a number of public figures, state personalities and representatives of major institutions. Receiving the ward on behalf of the Bank was Mr. Fadi Fawaz – Member of the Board of Banque Misr Liban. The award for “Best Digital Innovation Bank” comes as a merit of entitlement for the Bank, which has – and since declaring COVID-19 a global pandemic – prioritized the health and safety of customers and employees of the banking sector, while exerting exceptional efforts to that effect. Among these efforts is supporting digital transformation by providing innovative electronic solutions that facilitate customer transactions and contribute to offering banking and financial services in a more convenient and advanced manner. This is especially in light of current circumstances, the precautions undertaken to curb the spread of COVID-19 and to maintain social distancing.
Worth noting is that Banque Misr has recently launched the “Express” loan for small projects, which is considered the first integrated digital loan in Egypt. 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.
Worth noting is that Banque Misr has taken numerous strides towards digital transformation and innovation; such as, for instance, updating and developing its internet banking service "BM Online” and offering a bundle of new banking services to customers. Banque Misr has also launched electronic banking services to customers via mobile phones through the mobile banking application, becoming one of the first amongst its counterparts to offer this service via the “BM Wallet”. Banque Misr has also recently – and for the first time in Egypt – utilized artificial intelligence technologies to offer the “Automated Assistant Chat Bot” through its web portal, to serve customers around the clock.
Moreover, Banque Misr is considered the first bank to offer purchasing technology via POS and websites through the QR Code for mobile wallet customers; while automating the immediate acquisition of financing for micro projects.
The Bank consistently supports digital transformation and innovation efforts by providing electronic solutions that cater to customer requirements, for technology today has become the most rapidly-changing variable governing the global economy. As such, Banque Misr is keen on incorporating various financial technologies in its offerings, so as to improve the provisioning of banking and financial services, while paving the way for capitalizing on new pathways towards economic and financial development. Banque Misr always strives 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.