NBE studies kick-starting a digital bank with international institutions

The National Bank of Egypt, the oldest commercial lender in the country, is currently studying the possibility of establishing a digital bank with international institutions Karim Sous – Head of Retail Credit Risk Sector at NBE.

He added that  the bank’s points of sale (POS)  reached 19,574 machines, in addition it has coordinated with Fawry  to add 45,123 POS ATM.

The bank also aims at adding 3,000 POS ATMs by the end of the current year, Sous added.

Digital banking is the digitisation or moving online of all the traditional banking activities and programmes that historically were only available to customers when physically inside of a bank branch.

NBE plans to expand in  digital transformation by launching a package of banking services on Al Ahly NBE Mobile such as paying bills, activating security codes devices, and activating the payment and credit cards through ATMs and digital channels, he added.

The number of customers using NBE Phone Cash has reached 1.6 million used in paying bills, car licences, insurance services, and paying school fees for some universities among other services.

The bank has currently 9 electronic branches between Cairo, Alexandria, Ismailia and Hurghada. It also intends to open 10 other branches before the end of the year.