Export Development Bank of Egypt Standardises Operations with Finacle
Export Development Bank of Egypt (EDBE) has implemented Infosys’ Finacle universal banking solution across EDBE’s operations in Egypt. Infosys has implemented Finacle core banking, treasury and CRM solutions in over 20 branches across the country. The solution went live in just seven months and is at the core of EDBE’s retail growth strategy and its promise of enhancing customer experience across services. EDBE now operates its entire banking operations on Finacle to support a customer base that covers more than 70,000 accounts, about 70% of which are Egypt’s most important corporate customers.
Leveraging Finacle, the bank now has a centralised system for all its branches and is empowered to create a differentiated customer experience through a unified customer view of its retail and corporate customers. EDBE has also been able to seamlessly integrate its services across branches, reducing time taken for end of day activities by 75%.
Magdy Ramadan, chief information officer (CIO), EDBE, said: “New age banking requires an advanced core banking platform. A renewed technology focus is vital to achieving our business objectives of growth and customer satisfaction. Finacle, with its unmatched delivery track record, has proven its excellence in retail banking operations. The implementation of Finacle and the ease with which it interfaces with other external systems has helped us reduce our turnaround time and centralise operations across branches, thus radically improving our efficiency and customer service. The ease of implementation was a satisfying experience and we are excited to be part of this successful partnership.”