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UNB-Egypt to expand strongly in technological services over next 5 years: El Sewerky - Daily News Egypt

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UNB-Egypt to expand strongly in technological services over next 5 years: El Sewerky

‘We are contracting an electronic payment company to provide repayment of loan instalments, credit card dues electronically’


CEO and Managing Director of Union National Bank (UNB) Egypt, Ihab El Sewerky, said that the bank plans to expand significantly in technological services over the next five years to cope with the current digital development.

He pointed out that there is an ambitious plan to expand electronic branches and online banking services, parallel with the spread of ATMs, in order to reach different segments of society, meet the needs of different customers, and increase the bank’s market share in Egypt.

UNB currently offers internet banking and mobile banking services for individuals and companies, El Sewerky said. These allow a wide range of banking operations, such as the transfer and payment of credit card indebtedness; requesting a deposit link and  a cheque book; the service of querying accounts and completed transactions; and the call service, which provides many of these previous services to non-internet users, 24 hours a day, 7 days a week.

El Sewerky added that two electronic branches were opened with electronic services and ATM withdrawal and deposit service. Customers can directly reach customer service representatives around the clock.

UNB intends to expand its cash deposit service through ATMs soon to cover more ATM networks, El Sewerky said, in addition to issuing an electronic wallet for customers and non-bank customers, allowing the exchange and transfer of funds and the payment of bills, and other services.

The bank is in the process of contracting one of the electronic payment companies, to offer the service of repayment of loan instalments and credit card dues electronically. The electronic payment services will also be integrated with various electronic channels, such as the payment of bills online and via ATM machines, explained UNB’s CEO.

Regarding the role of the bank in achieving financial inclusion, he said that the bank has carried out many different activities in order to raise awareness on the importance of financial inclusion in society. These include the signing of a cooperation protocol with the Egyptian Dar al-Ma’arif Foundation to raise the level of knowledge among young people about the concept of financial inclusion and its importance to individuals and institutions.

Moreover, the bank conducts a number of activities and events during the Arab Financial Inclusion Week, which aim to expand its scope of work, and increase the number of beneficiaries of its banking services. The bank wants to activate its presence in all the governorates of the Delta, Upper Egypt, and the Suez Canal area, educate citizens financially, and provide all consulting services, based on their financial needs.

UNB sponsored the activities of the Global Money Week organised by the Egyptian Banking Institute, to support the financial education process for youth, based on the belief of UNB-Egypt in the importance of youth, and considering their development as the most important factor of the social renaissance.

The sponsorship included the “For Tomorrow” initiative, which aims to raise financial awareness among school and university students, introduce them to the importance of saving, and an initiative to simulate the banking system model (EBSM). This is the first model at the Egyptian university level to simulate the banking business in Egypt, where students are trained to conduct all procedures to obtain loans, open saving accounts, and other operations of the banking sector.

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https://eklutdvotyzsri.dailynewssegypt.com/2019/09/09/unb-egypt-to-expand-strongly-in-technological-services-over-next-5-years-el-sewerky/
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