The United Bank launched last week a self-inquiry credit service through its website and 200 ATMs, becoming the first bank in the Egyptian market to launch this smart digital system.
Ashraf El Kady, chairperson of the bank, said that this smart digital system allows customers instant self-inquiry about their creditworthiness reports on a 24/7 basis with full implementation of international security standards and without the trouble of visiting a branch or having to wait, according to the work rules of the Central Bank of Egypt (CBE).
He added that the service benefits individuals, large companies, and small and medium enterprises (SMEs), as well as microenterprises, with their different geographical distribution. He noted that the service is characterised for the speed of obtaining required information instantly and the ability to keep them.
The credit report issued by the bank, whether through the internet or ATMs, contain a credit score that reflects the information recorded by Egyptian credit bureau I-Score.
According to El Kady, bank customers can obtain this service on the condition that the client or company have an account on the internet banking portal available on the bank’s website or use a bank card.
El Kady noted that the bank has taken great steps towards updating the computer’s main system using the latest application by Misys, the Fusion Banking Equation. Over the past week, the bank was able to complete 90% of the updating process.
El Kady added that all smart technology applications and the national initiatives launched by the CBE work with the aim of a full implementation of the mechanisms of financial inclusion to achieve competitiveness amongst Egyptian banking institutions, as well as to maximise their pivotal role in supporting the overall development of the national economy.
In order to achieve this aim, El Kady noted that the United Bank is setting an integrated plan to expand the scope of financial inclusion within its strategic aims to reach the largest segment possible of customers, whether individuals or large companies, in addition to the SMEs sector.
