CAIRO: Egyptian banks have joined-in a race to introduce technologies designed to improve management performance, causing parallel competition among technology companies providing core-banking solutions.
In this context, the Informer Egypt Company has agreed with the Al Watany Bank of Egypt to supply technology solutions for the bank s Department of Credit to promote its retail banking and consumer credit operation.
Hussein Radwan, chairman of Informer Egypt (former Temenos Egypt Company) said his company is closely watching the Egyptian bank s tendency to introduce technology solutions into their operations.
Additionally, the Indian Infosys Company for banking solutions has set up its regional technical support office in the Middle East to respond to inquiries from its client banks in the region.
Ahmad Abdul Hamid of the Principal Bank of Development and Agricultural Credit said his bank has pumped large investments for the introduction of technology to expand retail banking and promote the idea of a cashless society.
He pointed out that the bank s upgrading plan are composed of four branches, including communication, solutions, hardware installation, and human resources, who will be trained on information technology skills.
