‟The Best Bank for Electronic Banking Channels 2020”


The International Finance Magazine (IFM) awards
The United Bank ‟The Best Bank for Electronic Banking Channels 2020”

Cairo: September 8, 2020

The British International Finance Magazine (IFM) announced that The United Bank had won the  "Best Bank for Electronic Banking Channels - Egypt 2020" award , as a result for the continuous efforts in providing banking solutions and products through innovative electronic mechanisms and channels in the market.

The choice of The International Finance Magazine for The United Bank was based on a number of strict global standards and a careful evaluation by a high committee composed of international experts in the field of electronic services for the quality of banking services and solutions provided by The United Bank to support its large customer base, whether for individuals and companies, using modern technologies.

"Made with Egyptian hands", is the slogan of The United Bank in technological applications.

Ashraf El Kady - Chairman of The United Bank - indicates that he is happy with this award that an international institution gives for the second year successively to The United Bank for its steady leadership in the field of digital services and electronic banking solutions. It emphasizes the value of the team's diligence and dedication in achieving the sustainability in success.

Four international awards for The United Bank in the field of digital services and banking products from international institutions since 2018.

El Kady explained that The United Bank won 4 awards in the field of digital services from international financial institutions and organizations:

1-    Union of Arab Banks - Award - The Best Bank in Providing Advanced Technology Services "The most innovative bank 2018".

2-    Union of Arab Banks - Award - "Excellence for Arab Digital Banks 2018"

3-    International Finance Magazine (IFM) - Award - Best Digital Product "UB Digital Wallet" for the year 2019.
4-    International Finance Magazine (IFM) - Award - "Best Bank for Electronic Banking Channels - Egypt 2020"
Ashraf El Kady said that the strategy of The United Bank was based on creating a set of digital solutions and technological services and providing them to the public in accordance with the latest international banking quality standards, condition that the priority in the selection of technological solutions and applications made by Egyptian minds and hands.

The vision of "Egypt 2030" is working to qualify Egypt as a center for digital technology in the Middle East.

He added that the political leadership, The Central Bank of Egypt and the Ministry of Communications are taking serious and wide steps towards qualifying Egypt as a digital technology center in the Middle East. The Ministry of Communications is also establishing the National Center for Artificial Intelligence Applications and 6 technological innovation parks. In addition to the role of the Ministry of Planning in innovating and developing policies and strategies related to qualifying human resources and raising their efficiency to face the requirements of the Fourth Industrial Revolution.

Ahmed Helmy - Head of the Information Technology Sector - says that he is happy with this award that the IFM International Foundation gives for the second year successively to The United Bank.

Ahmed Helmy indicated that The United Bank has provided, over the past four years, a set of digital solutions and services that are commensurate with the nature of the Egyptian citizen and meet his needs and ambitions. It has also provided digital banking solutions suitable for companies of all sizes, from large, small, medium and also micro companies.

He stressed that The United Bank will continue on achieving its strategy in exploring and introducing innovative banking solution to the Egyptian market and Egyptian customers.   

Adding that the reward is a result of cooperation and hard work between various UB departments as the information technology sectors, the digital transformation and all  digital services unites.

6 indicators of the growth of the digital transaction market

Ahmed Helmy explained that there are many local and global indicators that indicate a growth in the digital banking market, on top of which is the Corona virus crisis and developing customer culture towards reducing the use of cache. Also, the number of bank accounts has grown, especially with the launch of the Central Bank of Egypt campaigns for financial inclusion. Also, the percentage of young people increased and their interest in using payment methods and digital services, the wide spread of the mobile as well as the growth in the volume of e-commerce in Egypt

It is worth noting that IFM magazine is one of the largest media organizations specialized in the field of financial and business markets in the world, especially in emerging markets. The headquarters of IFM is in London, the British capital.

The Foundation gives annually several specialized international awards, including: Best Institution Award for good governance - Best institution Award for societal and environmental development - Best institution Award for financial performance - Best institution Award in providing innovative digital solutions. IFM magazine relies on its evaluation on several criteria, the most important of which is the direct impact of these institutions on society and on the lives of individuals.