- NBK-Egypt partners with Visa to enhance digital payment offerings, promoting Visa cards for financial transactions.
- Collaboration aims to set new standards in digital banking, delivering seamless and secure payment experiences.
A strategic alliance for digital innovation
In alignment with its strategic objectives to enhance digital banking experiences and advance electronic payment solutions, the National Bank of Kuwait – Egypt (NBK-Egypt) has announced a significant collaboration with Visa, a global leader in digital payments. The partnership was formalised through an agreement signed by Mr. Ahmed Youssef, Head of Consumer Banking, Digital Banking and Financial Inclusion at NBK-Egypt, and Ms. Malak El Baba, Vice President and Country Manager for Egypt at Visa. Also present at the signing ceremony were Mr. Yasser ElTayeb, Vice Chairman, Managing Director and CEO, and Mr. Amr El Alfy, Chief Business Officer, alongside other senior representatives from both organisations.
This alliance is part of NBK-Egypt’s ongoing efforts to expand and refine its digital payment offerings, delivering a suite of high-calibre products and solutions to its clientele. According to Mr. Yasser ElTayeb, the initiative is designed to promote the use of Visa payment cards over conventional payment methods, aligning with the national and central bank policies aimed at fostering a digital economy and minimising cash dependency. This supports the broader sustainable development goals outlined in Egypt’s Vision 2030.
Elevating customer experiences through technology
Ms. Malak El Baba expressed her enthusiasm for the partnership, noting that it represents a pivotal stride in the journey towards financial innovation and enhanced customer experiences. She highlighted how Visa’s integration of cutting-edge technology with its extensive global network, coupled with the bank’s commitment and expertise, will serve to redefine the benchmarks in the digital banking and payment solutions sector. Both entities are excited about the prospects this collaboration brings and are dedicated to leading the digital transformation within the banking industry.
Setting new standards in digital banking products
Mr. Amr El Alfy commented on the collaboration, stating that it will facilitate the establishment of new standards in the provision of advanced digital banking products and services. He emphasised the critical role of technology and innovation in bolstering the bank’s competitive edge and viewed the partnership as a pivotal opportunity to reinforce its comprehensive banking proposition for customers. This collaboration is expected to support the bank’s expansion plans within the Egyptian banking market.
Mr. Ahmed Youssef noted that the partnership would enable the bank to capitalise on Visa’s advanced technology and broad network to deliver seamless, secure, and convenient payment experiences. These services are tailored to meet the diverse needs and expectations of various customer segments, thereby enhancing the value proposition for Visa cardholders.
About National Bank of Kuwait (NBK)
The National Bank of Kuwait’s (NBK) acquisition of Al Watany Bank of Egypt (AWB) in 2007 marked a strategic alliance endowed with exceptional capabilities and resources, providing the Bank with unique access to the region’s most dynamic segments amidst an increasingly competitive banking landscape.
Since the acquisition, the Bank has dedicated itself to constructing a sustainable and dynamic future for clients and corporations operating within Egypt and the broader Middle East. NBK Egypt has managed to secure loans for countless large and small investors and institutional clients, a testament to its growing performing loan portfolio.
Based in Egypt, with an extensive branch network spanning the country, the Bank comprehends fully the challenging needs of individuals and aspiring businesses, adapting continuously to stay ahead in today’s swiftly evolving markets.
