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Banque Misr Showcases Express Projects, BM Online, Chatbot “Abkarino” and Mobile Payment SoftPOS Services at Cairo ICT 2021
In keeping with its tradition, Banque Misr participated in the International Exhibition for Communications and Information Technology “Cairo ICT 2021”, in its 25th session this year, which was held at the International Fairgrounds in New Cairo from 7th to 10th November. The Bank keenly partakes in this annual event, which witnesses the participation of numerous companies and institutions, with thousands of visitors, as it is considered the main platform through which all participants compete to showcase their latest projects and technological solutions.
The Bank participated in the exhibition through a state-of-the-art digital pavilion, via which it provided visitors with all information pertaining to its various services and products, through a trained and qualified team to promote a suite of digital products and services, including; microfinance loan "Express", which is the first digital loan in Egypt and the first integrated digital product launched through the digital transformation sector at Banque Misr; the first of its kind for banking digital transformation. This product allows Banque Misr’s small project 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 recently launched a Murabaha for financing small projects online with the simplest steps and the least procedures in order to meet the diverse needs of its clients.
BM Wallet services and the new generation of internet and mobile banking services BM Online were also presented, which provide a variety of banking services and come with a number of advantages and discounts on the services offered through the BM Online banking application, with an improved customer experience. The Bank also demonstrated the Chat Bot service or automated assistant “Abkarino”. Banque Misr is considered the first bank in Egypt to utilize artificial intelligence technology through its website to serve its customers around the clock and respond to their queries. These interactive services are a step towards moving forward in digital transformation, where customers are able to conduct an interactive dialogue at all times without waiting. The technology contributes to diversifying the channels of communicating with customers, which is reflected in the speed and flexibility of the service provided to improve efficiency.
Worth noting is that Banque Misr is adopting a transformation strategy from a traditional bank to a bank that leads digital transformation in the banking sector. The Bank launched the first digital transformation sector in Egypt, whereby the introduction of elements of digital transformation into the banking system will greatly contribute to improving the provision of banking and financial services in order to achieve a competitive advantage, success, leadership and overall growth.
This comes in line with the current development in the field of communications and information technology, coupled with Banque Misr’s belief in the pioneering and effective role of this sector in economic, social progress and communal prosperity. The Bank operates an advanced network of automated teller machines (ATMs), numbering some 4,000 machines that provide withdrawal and deposit services, currency exchange, bill payments, donations and other services. Thew Bank also enables its customers to communicate with it via various social media channels; including Facebook, Twitter, Instagram and others.
Banque Misr is also the first bank in Egypt to launch the WhatsApp for Business service to serve customers around the clock. It is possible to communicate via e-mail (19888 BM@BanqueMisr.com) as well as SMS text messages on 01019888000.
Also worth noting is that Banque Misr offers a variety of electronic banking services in support of digital transformation; including but not limited to providing purchasing technology from points of sale and websites; being considered the first bank to allow purchases using a QR Code for mobile wallet customers. Banque Misr also offers a contactless card payment service through mobile phone using the SoftPOS feature, where mobile phones – through the NFC feature and the SoftPOS application – transforms into an electronic payment point through NFC contactless cards. This serves numerous segments such as taxi drivers, product and food delivery representatives, distribution companies and others in accepting electronic payments seamlessly and at a lower cost.
The Bank has worked to offer financial services to various social segments via multiple channels, such as via its network of 700 branches nationwide to be conveniently accessible by customers wherever they may be. This is in addition to its regional and global presence in the United Arab Emirates, Lebanon, France, Germany, China, Russia, South Korea (Seoul) and Italy (Milan). In the foreseeable future, the Bank targets establishing a presence in Italy (Milan), Kenya (Nairobi); in addition to several other African states, while maintaining a large network of correspondents covering all countries of the world.
Banque Misr has consistently supported digital transformation efforts to fulfil the needs and requirements of its customers and to provide a more efficient and effective service. The Bank seeks to differentiate its services and to maintain its long-standing success, while proactively partaking in offerings that fulfil the requirements of customers. The values and strategies of Banque Misr consistently reflect its commitment to achieving sustainable development and prosperity for Egypt.
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