Intelligent CIO Middle East Issue 25 | Page 45

COUNTRY FOCUS: EGYPT processes, but there is a growing acceptance of the need to implement flexible payment platforms to compete with international and local banks and collaborate with fintech disruptors looking to increase market share. The VolPay Suite is designed specifically to accelerate all aspects of payments transformation projects, including the cost of change in local and international financial message standards. Mick Fennell, Vice President, Middle East and Africa, Volante Technologies, said: “We are delighted to partner with eVision to extend the reach of Volante’s payment solutions to the Egyptian and wider North African market. Market participants no longer want to depend on external specialist consultancies - they need tools to create more agile, efficient systems meeting the needs of a changing and dynamic payments landscape.” www.intelligentcio.com Amr Soliman, Founder and CEO, eVision, said: “When it comes to Volante’s Microservices-based architecture, we believe it is second to none and, unlike legacy products their technology enables customers to build highly configurable and extensible business services. Our markets are opening up, and banks need to invest now for the future to compete against local and foreign financial institutions and disruptors for real time execution, open banking standards, and next generation market initiatives. We are excited about what VolPay is able to offer them.” CIB partners with Careem Egypt to promote e-payments The Commercial International Bank- Egypt (CIB), a leading Egyptian private bank, has announced a pioneering collaboration model with transport company Careem-Egypt – a first for the local market. The new partnership provides Careem- Egypt with an integrated set of digital financial solutions to efficiently manage payments to company captains via CIB Smart Wallet. Careem staff can also deposit and withdraw cash conveniently from the bank’s large network of ATMs and local authorised agents. Moreover, the new partnership supports the company’s management of all cash flows and e-payments to individuals, suppliers and governmental entities. “Through our significant partnerships, with Careem-Egypt, we have been successfully able to expand our banking penetration to the under-banked citizens, granting them access to various banking services by using their mobile phones, especially in a society where a majority of people carry mobile phones,” said Mohamed Farag, CIB Chief Digital Officer and Head of Global Transaction Services. INTELLIGENTCIO 45