It is expected to improve customer performance for millions of Egyptians
Temenos teamed up with Arab Investment Bank. Source: shutterstock.com
Arab Investment Bank has selected Temenos, the banking software company, to power its digital customer experience.
Arab Investment Bank provides personal and business banking products as well as investment and Islamic banking services.
According to data, Egypt has an adult population of over 67 million and while over 90% have a mobile phone, only 1 in 3 has a bank account and less than 6% made digital payments in the last year.
Arab Investment Bank already uses Temenos Transact as its core banking technology. Now, with Temenos Infinity, the bank benefits from the leading omnichannel digital banking product covering customer engagement from acquisition to account servicing, through to long-term retention.
The performance benefits will be seen in higher customer growth, lower cost of marketing, improved front office efficiency with increased STP rate, and reduced asset write-offs with Explainable AI lending.
We’ve reported that the Central Bank of Nigeria cuts treasury bills sale by over half.
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