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Banque Misr in Egypt automates trade finance with Finastra

Banque Misr in Egypt automates trade finance with Finastra

Banque Misr extends collaboration with Finastra, selecting Fusion Trade Innovation and Fusion Corporate Channels to boost its offering and attract new customers

Dubai, UAE – April 13, 2022 – Finastra today announced that Banque Misr, the second largest national bank in Egypt with international presence, has selected Fusion Trade Innovation and Fusion Corporate Channels to digitalize its trade finance services and provide a premium user experience. The bank’s team attended Finastra Forum – the company’s flagship industry event in Dubai.

Banque Misr also selected Finastra’s partner, DataGear – a service provider for banking and financial services in Egypt – for the implementation of Finastra’s solutions.

Sayonara El Asmar, Banque Misr COO said, “As part of Banque Misr’s digital transformation strategy, the bank is continuously optimizing different processes and offering diversified digital services to provide convenience and enhance service quality for our clients. With Finastra’s solutions, the bank will streamline core processes related to trade finance activities and transform our legacy systems to provide our corporate customers with an end-to-end digital experience. We look forward to the sustained growth of our corporate business relations and offering in collaboration with Finastra, to enhance the quality of our corporate services and achieve customer satisfaction.”

Ahmed Essam, Head of Corporate Operations at Banque Misr said, “We selected Finastra due to the efficiency of its solutions and the team’s commitment to our business. Its open development platform, FusionFabric.cloud, also gives us the opportunity to tap into a broader network of services. For us, Finastra is not just a company that sells software. Finastra is a valuable partner that is dedicated to our success.”

Kamal El Khoury, Regional Sales Director at Finastra said, “Our corporate banking solutions will help Banque Misr reduce human errors, unlock data analytics and comply with regulations at a reduced cost. Its corporate customers will benefit from a simplified self-service platform, where they can create real-time alerts using a common calendar, a personalized dashboard and utilize workflow tools – all while boosting security.”

Ahmed Diab, Country Manager – Egypt at Finastra said, “Banque Misr is one of the leading national banks in Egypt, with a big market share of trade finance business in the region. Our competitive solutions will support its continued growth, by increasing customer retention and attracting new corporates through a sophisticated offering. We are delighted to be a long-term partner that is supporting Banque Misr’s ongoing success.”

For further information please contact:
Sofia Romano
EMEA PR Manager
T +44 (0)7552 865009
E [email protected]
finastra.com

Caroline Duff
Global Head of PR
T +44 (0)7917 613586
E [email protected]
finastra.com

About Finastra
Finastra is building an open platform that accelerates collaboration and innovation in financial services, creating better experiences for people, businesses and communities. Supported by the broadest and deepest portfolio of financial services software, Finastra delivers this vitally important technology to financial institutions of all sizes across the globe, including 90 of the world’s top 100 banks. Our open architecture approach brings together a number of partners and innovators. Together we are leading the way in which applications are written, deployed and consumed in financial services to evolve with the changing needs of customers. Learn more at finastra.com

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