The United Bank
Launches "Your Guaranteed Agent" service to protect investments, financial transactions and electronic applications for individuals and companies with innovative digital solutions
Ashraf El Kady - Chairman of The United Bank
• "Your Guaranteed Agent" service, a tripartite contract with executive mechanisms under the management of The United Bank.
• 4 main areas provided by "Your Guaranteed Agent" service: electronic applications - property - financial intermediation operations - capital increase.
• The transformation of the comprehensive banking model requires integration between banking and non-banking services.
• Economic empowerment by expanding the base of financial inclusion and attracting new and diverse segments.
Cairo: November 29th, 2021
Amidst the challenges of informational wealth, The United Bank innovates the "Your Guaranteed Agent" service to secure investments in the field of electronic applications for its clients, individuals and institutions inside and outside the Arab Republic of Egypt, through a package of innovative digital solutions.
"Your Guaranteed Agent" service
The new "Your Guaranteed Agent" service allows The United Bank's customers to conclude deals through three-party contracts amid a set of determinants and mechanisms between each of the seller, buyer, service provider or service requester in the management and implementation of The United Bank. The "Your Guaranteed Agent" service is one of the drivers of financial inclusion, especially in the field of government payments according to balanced and appropriate controls.
Under the tripartite contracts for "Your Guaranteed Agent" service, The United Bank manages the transaction for the benefit of the client. After defining the terms, conditions, mechanisms, methods of payment and transferring money, whether in Egyptian pounds or foreign currencies, so that The United Bank is responsible for the implementation according to a specific timetable. This is done in complete secrecy, impartiality and in accordance with international safety standards.
4 main areas provided by "Your Guaranteed Agent" service
"Your Guaranteed Agent" service contracts include 4 main areas:
• Conducting sales or purchases: lands - real estate - industrial facilities such as: factories - commercial malls - hotel facilities such as: tourist villages, hotels and tourist resorts - cars or transportation.
• Conducting financial mediation or partnership operations.
• The operations of issuing shares or increasing the capital of companies, as well as the establishment of companies.
• Electronic applications are considered one of the most important elements of information wealth.
"Your Guaranteed Agent" service is available for the United Bank's customers, whether individuals or companies of various sizes, from large companies or small, medium and micro projects, as well as start-up companies and entrepreneurship institutions in all 68 branches of The United Bank, as well as for customers all over the world.
The banking sector is betting on innovative services and digital solutions.
Ashraf El Kady says that the service "Your Guaranteed Agent" aims to expand the provision of innovative banking and non-banking services with digital solutions and mechanisms to attract a large segment of society, whether inside or outside Egypt, and motivate it to integrate into the banking sector to expand the base of financial inclusion in order to achieve sustainable growth in the national economy according to with Vision 2030.
Economic empowerment by expanding the base of financial inclusion and attracting new and diverse segments.
The new service is implemented under the management of The United Bank, according to compatible and correspondent controls and protection which gives a kind of reassurance and security to all contracting parties as well as the economic empowerment processes by encouraging the flow of investments, whether national or foreign, and maximizing their overall performance in the national economy to achieve sustainable development.
El Kady added that in light of the strong reliance on digital technology, the need for innovative services that meet the aspirations of customers and have the feature of working around the clock, 7 days a week, according to the best international practices, has emerged to meet the needs of customers, whether individuals or companies, to facilitate business and create what is called the smooth, easy and safe flow of economic procedures.
Therefore, The United Bank has provided a package of digital services that work with high efficiency, high speed and extremely safe such as internet banking, digital wallet and digital mobile.
The transformation of the comprehensive banking model requires the integration of banking and non-banking services
Ashraf El Kady explained that the banking sector, led by The Central Bank of Egypt, is working to enhance the quality of financial services through banking and non-banking mechanisms which contributes to the events of a kind of integration in the short term aiming to create a comprehensive banking model that works to provide all financial and non-financial services for the customers, starting from financing to equity instruments for companies or offering services on the stock exchange according to the rules of The Central Bank of Egypt.