Singapore, 5th November 2020— Banque Misr and Infosys Finacle received Best Mobile Banking Implementation in Africa at The Asian Banker Middle East and Africa Regional Awards 2020.
The bank needed to develop a modern banking solution to cater to the changing needs of its customers
The bank faced a problem of lacking a modern channel banking solution which is important to drive the next phase of growth due to the growing needs of the customers. This is because customers are looking towards convenience in banking and would like to bank anytime anywhere conveniently without going to a physical branch. Thus, there was a need for the bank to undergo a digital transformation to provide a tailored-to banking experience to its customer.
Leveraging on advanced technology, the bank provided a multi-channel solution with zero downtime to provide a seamless transition to digital banking
The bank worked together with Infosys to provide a 24/7 multi-channel solution to provide zero downtime and allow banking anytime anywhere. The solution was able to automate most existing functions and processes to save labour costs and human errors. As such, the bank was enjoyed huge cost and time savings. In line to smoothen the transition to digital banking, 10% of the current transaction volume shifted to self-service, showing the effectiveness of the solution in encouraging digital banking.
The bank provided its solution on schedule, showing its level of excellence and precision in planning and execution to reap benefits
In its vision to reimagine the customer’s journey, the bank upholds a high level of customer satisfaction by providing solution as scheduled. The 24/7 multi-channel solution was rolled out in 5.5 months as planned and was within the planned budget with zero cost overrun. The solution is also tailored to be vendor-friendly with governance forum to treat each vendor as a partner. This helped the transition to platform like Corporate Internet Banking and reduced reliance on traditional banking.
About The Asian Banker International
The Asian Banker is the region’s most authoritative provider of strategic business intelligence to the financial services community. The Singapore-based company has offices in Singapore, Malaysia, Manila, Hong Kong, Beijing, and Dubai, as well as representatives in London, New York, and San Francisco. It has a business model that revolves around three core business lines: publications, research services and forums. The company’s website is www.theasianbanker.com
You may visit the Excellence in Retail Financial Services page at http://awards.asianbankerforums.com/retailfinancial/
For further information, you may get in touch with:
Mr. Mobasher Zein Kazmi
Head of Research
Tel: (+61) 452 514 145