United Bank expands digital services, financing solutions for companies
In 2024, the Bank aims to broaden its digital offerings and provide an expanded range of banking and financing solutions, especially for small and medium-sized enterprises (SMEs) and entrepreneurs, supporting their ambitions for sustainable growth both locally and globally.
In a statement, United Bank said its integrated banking solutions will enable investors and business owners to expand their customer base, better manage cash flows, strengthen client trust, and unlock new growth opportunities through advanced e-commerce tools. The Bank's solutions also offer flexible financing options tailored to diverse sectors—including commerce, industry, agriculture, and services—while supporting faster decision-making for business owners.
The Bank's corporate digital payment services include government payment solutions covering taxes, social insurance contributions, customs duties, unified window services, citizen services, government entity deposits, and port payments. Its electronic banking suite extends to domestic and international transfers, real-time SWIFT transfers, account inquiries and statement downloads, and online requests for letters of credit and guarantee letters.
United Bank CEO Ashraf El Kady emphasized that targeting corporate clients, SMEs, and entrepreneurs through digital payments programs is a key pillar of enhancing the business environment. He noted that digital payments have become central to economic development, particularly for SMEs.
El Kady highlighted the impact of recent legislative reforms, including the cap on cash payments to government entities and the automation of public sector payment systems, which have accelerated Egypt's transition toward a cashless economy.
He added that United Bank remains committed to creating exceptional investment opportunities for SMEs and entrepreneurs, viewing them as essential drivers of societal development and critical contributors to the 'Made in Egypt' initiative for industrial and productive growth.
El Kady also underlined the Bank's efforts to empower young Egyptian entrepreneurs offering innovative solutions to economic challenges and supporting local production across key industries. Initiatives such as NilePreneurs and value chain development programs in textiles, furniture, dairy, and plastics industries align with national objectives to boost exports, support startups, and encourage sustainable economic growth. United Bank also deploys financial engineering tools to offer both banking and non-banking financing solutions under initiatives launched by the Central Bank of Egypt (CBE).
Strategic Partnership with FINASTRA
In parallel, United Bank announced it has signed a memorandum of understanding (MoU) with global fintech leader FINASTRA to integrate artificial intelligence (AI) and deep learning technologies into its operations—a move that reflects the Bank's vision for the future of banking services.
The MoU sets the framework for adopting advanced big data analytics, embedding AI solutions, and deploying deep learning applications as part of United Bank's broader strategy for technological innovation.
Through the project, United Bank's systems will be enhanced to analyze large datasets instantly, predict customer needs through behavioral insights, and engage clients through smart, 24/7 digital channels. This will elevate the speed, accuracy, and personalization of banking operations, offering a more dynamic and luxurious customer experience.
These technologies are also expected to deepen customer satisfaction and loyalty across the Bank's network, including internet banking, digital wallets, mobile apps, and interactive ATMs, while expanding financial inclusion.
Additionally, the AI-powered systems will boost operational efficiency and decision-making through real-time smart data analysis, equipping United Bank's leadership with immediate, actionable insights to support strategic planning. Enhanced cybersecurity, early fraud detection, and stronger risk management standards will also be key outcomes of the initiative, in line with global best practices.
The project will further empower United Bank's workforce by providing smarter, more flexible tools to serve customers effectively, while enriching employee training and supporting more competitive performance tracking across the Bank's operations.
El Kady emphasized that investment in big data, AI, and deep learning technologies is an investment in the Bank's future. He stressed that this project is a continuation of United Bank's digital transformation journey, launched in 2016, to stay ahead of global changes in the financial sector and meet customer demands for smarter, safer, and more innovative services.
He added that integrating smart technologies will significantly strengthen United Bank's market position by enhancing data management, operational agility, and decision-making at every level.
El Kady concluded that this strategic shift marks a new era for United Bank as it embeds AI deeply into its digital ecosystem, offering flexible, responsive financial solutions and reinforcing its reputation for excellence in SME financing, credit services, and retail banking both in Egypt and abroad.
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