Suez Canal Bank has announced the appointment of Bahaa Farouk as the Head of Digital Transformation, underscoring its commitment to enhancing its executive team in line with its ongoing digital transformation journey.
Farouk, a seasoned technology expert, brings over 20 years of local and international experience in information technology, telecommunications, fintech, cloud computing, and digital transformation. He has collaborated with major global and regional companies such as Huawei, HP, Vodafone, and Ooredoo.
Before joining Suez Canal Bank, Farouk worked as the Head of the Digital Factory at Banque Misr, where he played a pivotal role in shaping the bank’s digital transformation strategy. His efforts in implementing cutting-edge digital technologies and enhancing operational flexibility led to the launch of numerous digital solutions and channels for both individuals and businesses.
Farouk holds a Bachelor’s degree in Computer Science, a Master’s degree in Computer Science and Artificial Intelligence from the Arab Academy for Science, Technology, and Maritime Transport, and an MBA from ESLSCA University.
Expressing his pride in leading the digital transformation team at Suez Canal Bank, Farouk emphasized his commitment to realizing the bank’s ambitious vision. He aims to collaborate with various departments within the bank to continue developing the infrastructure, adopting the latest technological advancements, and executing a comprehensive digital strategy focused on improving customer experience, offering innovative solutions, and providing secure, user-friendly digital banking products and services.
Akef El-Maghraby, CEO and Managing Director of Suez Canal Bank, stated: “At Suez Canal Bank, we are adopting an ambitious strategy to develop digital services and products, aligning with the latest advancements in fintech. We are enhancing our infrastructure to support digital transformation, utilizing artificial intelligence to improve customer services, and modernizing internal workflows. We are also implementing advanced security standards through the latest fintech protection and security technologies to ensure high levels of safety for digital services while adhering to both local and international standards, in line with the state’s digital transformation policy.”
El-Maghraby added that the bank recognizes the importance of digital transformation as a primary driver of investment and economic growth, aiming to enhance service development and operational efficiency. The bank is implementing new, agile, and collaborative working mechanisms that prioritize customer needs, embodying the principle of customer-centricity. The new vision includes leveraging the latest technological innovations to build digital service platforms, utilizing data analytics, and adopting the latest in open artificial intelligence. The bank is also working to deepen its collaboration with fintech startups to provide wide-ranging services to customers, thereby reinforcing its role in supporting modern economic elements and participating effectively in the digital economy.
He noted that the bank is currently working on launching a new electronic system that includes internet and mobile banking, offering a variety of banking services and transactions. Additionally, the bank is exploring and evaluating the introduction of new digital services for both corporate and individual clients, such as credit, payments, and investment, among others. These initiatives aim to provide current and new customers with secure, convenient, and fast access to emerging services and products.
