The United Bank launches its digital wallet

17/04/2018

To achieve financial inclusion and stimulate internal trade
The United Bank launches its digital wallet within the latest series of financial technology solutions

Ashraf El-Kady - Chairman of The United Bank
• Financial technology has become the main driver of national growth and global economy.
• Electronic wallets increase the opportunities for marketing retail banking products and attract new customers.
• Financial technology is a new competition mediums for Egyptian banks.
• Competition between banks in smart services is in favor of the client.
• The proportion of bank account holders does not exceed 33% of adults.
• Financial technology leads to increase employee productivity, maximize operational efficiency and accelerate business growth.
• The biggest challenge remain is to spread the culture of financial knowledge.

Cairo: 17/04/2018

The United Bank launched this week “UB Digital Wallet”, the latest financial technology solutions in the Egyptian market as part of the efforts of the State and The Central Bank of Egypt to expand the base of financial coverage and open new horizons for non-cash payments.

The UB digital wallet offers a range of smart financial services including: Payable bills - Mobile phone charges - Internal transfer of funds from wallet to other - Payment of services directly from the wallet – Fund deposit - Inquiries about transactions - Credit cards - Prepaid cards - electronic account statement - Withdraw money from the wallet through member merchants.

Financial technology has become the main driver of national economic growth and financial inclusion
Commenting on the introduction of “UB digital wallet” service, Ashraf El Kady, Chairman of The United Bank, said that financial technology has become the main driver for the growth of the national economy and the dissemination of a culture of financial inclusion in order to support the Egyptian economy because of its vital role in bringing the informal economy into the economy which reflects the recent initiatives of The Central Bank.

The United Bank Smart Banking Package
El Kady added that The United Bank is always striving to offer a package of smart financial technology services through mobile phones, Internet and digital wallet. As well as Internet banking services for companies. Also managing the liquidity of companies in the best ways to maximize return.

In addition to a network of ATMs machines that spread throughout the Republic based on a vision and strategy backed by massive investments in infrastructure, digital platforms and safety standards. This enabled The United Bank to occupy a leading position among the banks in the Egyptian market in providing such high quality services.

Market studies of customer needs
Ashraf El Kady said th