1. News
February 23, 2024

IBM partners with Egypt’s FABMisr to transform banking experience

The long-term collaboration will focus on modernising the Egyptian bank’s business processes and overall customer experience, allowing it to offer better reliability, security, and speed to clients

IBM has joined forces with Egypt-based bank FABMisr to deploy the former’s Cloud Pak solutions to help with the bank’s digital transformation journey.   

According to IBM, the long-term collaboration will focus on modernising the Egyptian bank’s business processes and overall customer experience, allowing it to offer better reliability, security, and speed to clients. 

By utilising artificial intelligence (AI) software with IBM Cloud Pak for Integration and IBM Cloud Pak for Business Automation built on Red Hat OpenShift, FABMisr is said to have unlocked seamless integration and AI-driven automation capabilities that expedite digital transformation. 

FABMisr chief technology officer Shaarawy Mohamed said: “Through this pivotal partnership, IBM’s cutting-edge technology and deep industry expertise empower us to harness the full potential of AI and digital innovation.  

“Their digital solutions are integral to our strategy, enabling us to deliver a banking experience that is both transformative and tailored to the modern consumer. Together with IBM, we are setting new standards in the banking sector and shaping the future of banking in Egypt.” 

IBM Cloud Pak for Business Automation and AI have helped the bank to ensure regulatory compliance as well as to improve its operational efficiency and boost customer experience. 

Besides, the integration capabilities of IBM Cloud Pak for Integration on Red Hat OpenShift have equipped FABMisr with the key tools to connect its enterprise applications rapidly.  

This has allowed the Egyptian bank to easily develop, implement, and manage application programming interfaces (APIs) along with ensuring secure API traffic and adopting an architecture based on events. 

IBM Egypt general manager and technology leader Marwa Abbas said: “With the ever-changing needs of clients, enterprises need to remodel their operational workflows to accommodate such demands.  

“AI-powered solution systems help us to make better decisions and build agile processes that offer unmatched reliability. With IBM’s AI, that is carefully curated to empower financial institutions with solutions to upgrade business processes, streamline workloads and optimise resources, FABMisr now enjoys unparalleled adaptability to changing business needs.”