Crédit Agricole Egypt’s strategy prioritises its customers’ satisfaction, therefore, it launched a fully-fledged multichannel platform called “banki by Credit Agricole” to offer the latest and most innovative services, said Crédit Agricole Egypt Managing Director, Pierre Finas.
In an interview with Daily News Egypt, Finas said that the bank deploys all efforts to support the state’s plan toward financial inclusion. Hence, Crédit Agricole Egypt also invested in its services to empower its customers with easy and flexible payment solutions. However, he added that the community needs more awareness regarding these solutions. This is why the bank created in its branches the banki Corner, where a digital greeter introduces customers to all digital services through interactive screens and supports them in the registration process.
What are the advanced services and technologies that Crédit Agricole Egypt provides?
Crédit Agricole Egypt’s strategy prioritises our customers’ satisfaction. Therefore, we have launched a fully-fledged multichannel platform “banki by Credit Agricole” to offer our customers the latest and most innovative services. For our corporate clients, they have banki Business to assist them in managing their accounts and daily transactions. As for individuals, the bank presents banki Wallet, banki Online and banki Mobile, which has been awarded the best mobile application in Egypt. Not only so, the bank has inaugurated its first cashless branch in Dandy Mall. Crédit Agricole Egypt also inaugurated a series of innovative branches, banki Store. These branches rely on striking a balance between applying the latest technologies and providing banking consultations in a manner that supports the culture of digital transformation and financial inclusion.
What is the role played by Crédit Agricole Egypt in supporting financial inclusion in the country?
At Crédit Agricole Egypt, we believe in the importance of financial inclusion and its role in developing society and meeting its needs. In the context of the Central Bank of Egypt’s (CBE) initiative to expand the application of financial inclusion across different segments of society, as well as decreasing cash circulation in the domestic market, Crédit Agricole Egypt launched banki Wallet. The banki Wallet service offers individual clients a new method for easy and secure payments. We also believe that among the important steps toward financial inclusion is to integrate youth. Credit Agricole Egypt presents an exquisite offer to youth starting from the age of 18 to take them through the first steps of their careers. The offer has been developed according to their needs providing a debit card, access to digital services, and a reward points system.
The state is firmly moving toward electronic payments and becoming a cashless society, how will Crédit Agricole Egypt aid the state in fulfilling this goal?
Crédit Agricole Egypt deploys all efforts to support this national direction believing in the pertinence of this approach. Toward this goal, Crédit Agricole Egypt launched, as previously mentioned, its first cashless branch. The bank is also investing in its services to empower its customers with easy and flexible payment solutions. However, we still believe that the community needs more awareness regarding these solutions. This is the reason why Credit Agricole Egypt has created in its branches the banki Corner, where a digital greeter introduces customers to all digital services through interactive screens and support them in the registration process.
In your opinion, what are the main challenges facing the state in achieving the goals of spreading electronic payments and becoming a cashless society?
Definitely the number of banked customers, which despite its increase following the different efforts deployed by the Central Bank during the past couple of years, remains limited. The numbers of those who deal with the banking sector has reached only 10%-15% of the entire population. In addition, there are limited bank branches and ATMs in remote rural areas and lack of awareness regarding the importance of banking. However, we are optimistic and see the progress on the ground where all actors are playing a role: the Central Bank, banks, payment service companies, and telecommunication companies.
Is the banking sector’s technological infrastructure capable of achieving the state’s goals of transforming into a cashless society and achieving financial inclusion?
Banks are aware of the national direction and are currently allocating budgets to support their technological infrastructure, spreading their ATMs, and launching e-wallets. In addition to the CBE’s efforts to enhance the technology environment and stress the application of sustainable information security standards. The central bank is also working on establishing an innovation fund to finance fintech start-up companies and establish a financial technology unit at the bank, among other efforts.