IBM unveiled its partners with EBank, Export Development Bank in Egypt for launching its digital banking-as-a-service (BaaS) platform for transforming the business operations of the bank and improving customer satisfaction by offering corporate services more efficiently.
In 1983, EBank was established with the goal of promoting and facilitating Egyptian exports across all economic sectors—agricultural, industrial, and commercial. EBank quickly established itself as the hub of export activities in Egypt. EBank realized it needed to employ digital technology to start its own retail banking operation while also improving its corporate services as digitalization altered the banking sector.
Ismail Farid, Chief Information Officer, The Export Development Bank of Egypt, stated, “By collaborating with IBM, we have built the platform we need to decrease time to market and lower integration costs while we continue building on and enhancing our services. IBM Cloud Paks running on Red Hat OpenShift enable us to deliver greater customer satisfaction by providing fast and seamless, end-to-end services without queuing and lead time.”
EBank developed the platform in collaboration with IBM and its business partner Sumerge utilizing AI-powered cloud software from IBM to shorten the time to market and reduce integration costs, enabling the bank to introduce retail banking services and improve its current corporate offerings. In order to improve efficiency across its hybrid cloud infrastructure, the Bank has implemented IBM Cloud Pak for Integration and IBM Cloud Pak for Business Automation, built on the Red Hat OpenShift container and Kubernetes platform.
Marwa Abbas, General Manager, IBM Egypt, included, “As the financial enterprises progress on their digitization journeys, they need a strategy that allows various cloud-based applications to work in alignment. We are pleased to partner with EBank by offering AI and cloud technology from IBM and Red Hat to provide the flexibility and efficiency needed to enhance the banks’ processes and meet their customers’ expectations.”
Read: Banking as a Service- Extended Arms of Traditional Banking
