The United Bank and FINASTRA Global Company to Implement the Latest Artificial  Intelligence Mechanisms in Banking 

13/04/2025

Memorandum of Understanding in Initials Between 
The United Bank and FINASTRA Global Company to Implement the Latest Artificial 
Intelligence Mechanisms in Banking 

Ashraf El Kady – Chief Executive Officer and Managing Director, The United Bank 
●    Outlines the future of smart banking technology and adopts artificial intelligence and deep learning mechanisms. 
●    New technologies bring qualitative leap in the future of banking services. 
●    4 strategic pillars for new technologies adaptation at The United Bank. 
●    Packages of smart services and products to anticipate customer expectations. 
●    Achieving customers’ well-being and gaining their satisfaction and loyalty are at the top of UB core values.

Cairo: April 13, 2025 
In a strategic step towards the future of banking services in light of artificial intelligence technologies, The United Bank announced its signage of an initial memorandum of understanding with FINASTRA, a global company specializing in financial services and artificial intelligence and deep learning solution.
 
The memorandum of understanding includes setting general frameworks for starting to adopt the latest Big Data technologies and integrating them with Artificial Intelligence technologies and Deep Learning programs within UB's strategy towards the future of banking services and solutions. 

4 Strategic Pillars of the Project: 
First Pillar: Customers 
The project aims to enable core banking systems to analyze big data instantly and predict customers need through accurate analysis of their behavior. In addition to interacting with them through smart mechanisms and channels around the clock, which enhances the speed and accuracy of banking operations and achieves a unique and more sophisticated experience for them. These smart technologies also contribute to deepening the mechanisms for gaining customers satisfaction and loyalty across the current 68 branches and digital channels, including internet banking, digital wallets, interactive ATMs, and mobile banking, as well as expanding financial services and banking solutions to broaden the base of financial inclusion. 

Second Pillar: Business Efficiency and Decision Support 
These smart technologies work to improve business efficiency and support decision-making mechanisms due to the availability of an instant smart analysis of data. This enables the top management of The United Bank to formulate ambitious strategies based on clear and immediate indicators.
 
Third Pillar: Enhancing Proactive Information Security Capabilities 
To detect any attempts at financial fraud and risks, which contributes to raising the efficiency of internal operations and improving the level of security and reliability in accordance with international quality standards in the age of the information revolution.
 
Fourth Pillar: Enhancing the Capabilities of the Work Team 
This involves providing them with smarter, more flexible, and interactive tools to serve customers and improve their banking experience. It also maximizes educational and training capabilities in a more professional manner with more accurate and analytical follow-up and professional and competitive analysis of the overall performance of the institution in the market. Commenting on this strategic project.

Ashraf El Kady – CEO and Managing Director – said that relying on big data technology, artificial intelligence, and deep learning is an investment for the future. The project comes as part of the comprehensive digital strategy adopted by The United Bank since 2016, aiming to keep pace with global changes, specifically in the financial and banking sector. This contributes to meeting customer expectations and providing added value to them with more intelligent, innovative, and secure digital products and services. 

He added that the adoption of these smart technologies will represent a qualitative leap in UB competitive position in the market through the management of big data and decision-making inside and outside the institution, which directly contributes to improving overall performance. 

El Kady pointed out that this project is part of UB's ambitious plan to employ smart technology within the digital banking environment, aiming to benefit from the significant advantages that artificial intelligence offers in various banking sectors. In addition to offering more flexible and responsive financial solutions to changes, both locally and internationally, so that UB is distinguished by its solutions and distinguished banking products in the field of credit financing, financing of small and medium-sized enterprises, as well as retail banking products. 

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