In support of the financial inclusion strategies and the digital transformation of Egypt, eFinance Investment Group and IBM Egypt signed a cooperation agreement in the presence of Ms. Ana Paula Assis, Chair and General Manager EMEA at IBM, along with Mr. Saad Toma, General Manager at IBM Middle East & Africa. The protocol aims to study the establishment of an integrated digital banking platform, infused with artificial intelligence, for banks and financial institutions in alignment with the directives and policies of the Central Bank of Egypt. The platform aims to provide digital systems and services to banks and financial institutions, assisting them in achieving their business goals, expanding their customer base, and delivering a distinguished user experience. Additionally, it seeks to reduce operational costs, contribute to sustainability objectives, and mitigate environmental impact by offering services electronically. According to the cooperation protocol, the alliance is set to provide advanced technology to the banking sector, leveraging the capabilities of the IBM Watsonx platform for data and artificial intelligence. Additionally, it will offer IBM's consultancy services for designing, developing, and accessing various systems and services through this platform. The alliance will also undertake infrastructure development, establish core software, implement automated workflow systems, and institute a cybersecurity system to safeguard data. It will manage and make the platform accessible to banks and financial institutions for developing digital solutions, accelerating the pace of digital banking services in Egypt, particularly digital banks. Ibrahim Sarhan, Chairman and CEO of EFIG stated, "Our aim is to provide our clients with the best digital technologies, including cloud computing and artificial intelligence services in Egypt. As part of this initiative, at eFinance Investment Group, we are working on plans to introduce digital technologies to banks, leveraging the capabilities of the Group in sustaining national systems and its expertise in financial and banking services. Therefore, our collaboration with IBM, with its global expertise and advanced digital solutions, is crucial in designing and implementing a digital banking platform for banks, enhanced with the latest advancements in artificial intelligence. We believe that this digital banking platform will achieve the Egyptian Central Bank's strategy for financial inclusion and Egypt's vision for 2030." Marwa Abbas, General Manager and Technology Leader at IBM Egypt commented on the collaboration, stating, "We are pleased with this collaboration with eFinance as it will contribute to studying and innovating the best design for a digital banking platform heavily relying on IBM's integrated digital solutions enhanced with artificial intelligence capabilities. This contributes to presenting a shared vision and some concepts related to digital financial services that align with the directives and policies of the Egyptian Central Bank. Artificial intelligence represents a significant opportunity for governments and public sector institutions looking to leverage new technologies to meet national agendas and sustainable development goals. AI has the potential to usher in a new era of services, improving workforce efficiency, and reducing operational costs."

eFinance Investment Group has recently unveiled its expansions in the field of cloud computing services, having entered into several collaboration agreements with leading global companies. Among these are Broadcom, Ivanti, LogRhythm, NetScout, Sophos, Splunk, TrendMicro, Veeam, and Xerox, which have joined the diverse roster of global companies on the eFinance cloud computing platform. This move responds to the needs of the Egyptian market, as the company aims to provide comprehensive technological solutions through its collaboration with international firms. Thanks to these new partnerships, the number of services on the eFinance cloud computing platform has risen to 200 diverse offerings. The integration among these services aims towards providing a variety of technological solutions that cater to the needs of all companies, regardless of their size or geographical scope. This enhances its ability to adapt to digital transformation and sustainably improve its performance. These expansions follow the launch of Egypt's first integrated cloud computing platform by eFinance during the "Cairo ICT 2022" exhibition. This step aims to support Egypt's vision 2030 in achieving digital transformation and providing an advanced digital infrastructure to foster innovation and enhance operational efficiency. In a statement, Ibrahim Sarhan, Chairman & CEO of eFinance Investment group, emphasized the importance of these partnerships in supporting digital transformation in Egypt. He highlighted that the significant development witnessed by the platform plays a crucial role in supporting the state's efforts towards digital transformation and serving various sectors, including financial inclusion and startups. Mr. Ibrahim Sarhan points out that this new technology meets the needs of current and future companies and institutions, reflecting The Group's commitment to continuous development and keeping abreast of the latest advancements in global data centers. It is also worth mentioning that The Group has obtained the ISO 20001 quality certification in cloud computing operations, placing it among the top 200 service providers globally.

eFinance investment group, one of Egypt’s leading payment and digital banking technology companies, announced its strategic joint venture today at Cairo ICT 2023 with Codebase Technologies, a leading global digital banking technology provider. The two companies will launch the country’s first Banking-as-a-Service (BaaS) solutions, to accelerate the speed of digital banking transformation in the country. Ibrahim Sarhan, Chairman & CEO of EFIG commented, “In line with Egypt’s vision of transitioning into a cashless society, and its efforts to promote financial inclusion and boost the FinTech industry, we are proud to be an enabler for banks, and fintech startups through our highly advanced, secure infrastructure, digital investments, and partnerships with industry leaders to forge a seamless transition. Our collective collaboration with Codebase Technologies and Visa will offer a BaaS solution that is designed to grant banks, and fintechs a streamlined route to digital initiatives, while ensuring their capacity for sustained product and service innovation.” Banking as a Service (BaaS) is a model in which banks integrate their digital banking services directly into the products of other non-bank businesses through the use of APIs (Application Programming Interfaces). BaaS plays a transformative role in enhancing financial inclusion and bolstering entrepreneurship potential across the world by facilitating access to banking tools and resources, such as credit, savings accounts, and payment processing. BaaS platforms, such as the one being launched, will provide tailored financial products that cater to the unique needs of Egypt’s financial institutions, banks, and fintechs, fostering innovation and growth. Tamer Al Mauge, Managing Director - MENA at Codebase Technologies, stated “We are thrilled to combine eFinance's industry and market expertise with our extensive global project experience and the digital banking capabilities of Digibanc. BaaS offers both established players and emerging entrepreneurs a rapid route to market for innovation and launching new products. Together, we will introduce a service that will profoundly influence Egypt's digitization journey.” This initiative marks a significant step forward in modernizing and enhancing the region's financial services landscape. The BaaS joint venture will help financial institutions in Egypt transform by providing them with a full range of digital banking, neobanking, lending, and payment solutions. These services will be integrated into an efficient, cost-effective deployment model, enabling significant economies of scale and will reduce total cost of ownership and capital investment in launching new digital customer experience and products. Our Cloud BaaS suite offers an agile core banking system, digital onboarding, instant card issuance and processing, digital mobile wallets, digital Lending and more. “This strategic joint venture marks a significant milestone in revolutionizing the Egyptian financial landscape. Our BaaS platform offering will empower businesses and banks with unprecedented digital capabilities, fostering a more inclusive, innovative, and robust financial ecosystem that is poised to redefine the way Egypt approaches banking and finance,” added, Omar Mansur, Managing Director - Global Enterprise Projects.