Banknbox Egypt, a leading digital services and payment technology provider, has announced a strategic expansion through partnerships with banks and fintech firms in eight countries during H1 2024. This move strengthens Banknbox’s position as a regional hub for financial and banking services, capitalizing on Egypt’s thriving fintech sector.
Backed by the Central Bank of Egypt (CBE), Banknbox has established collaborations with prominent companies and financial institutions in diverse markets like Iraq, Libya, Bangladesh, Moldova, Qatar, and several African nations. These partnerships aim to deliver a comprehensive suite of services through Banknbox’s Egypt-based digital platform.
Bassem Mahmoud, Chairperson and Managing Director of Banknbox, acknowledges the complexities of global expansion. He underscores the importance of meticulous market research and customized service offerings. Mahmoud emphasizes that partnerships with local agents and international players are critical for ensuring successful service integration in new markets.
“We are grateful to the CBE for its unwavering support in realizing Banknbox’s vision of transforming Egypt into a regional hub,” said Mahmoud.
Mahmoud, further, highlighted Banknbox’s significant investments in developing innovative solutions, adhering to the highest international security standards, and forging exclusive partnerships with global leaders to provide comprehensive technical support and tailored solutions.
While pursuing regional expansion, Banknbox recognizes Egypt’s significance as a key market due to its banking and fintech innovative potential . Recent collaborations with local entities have resulted in the provision of enhanced integrated services, including advanced card issuance and management solutions that meet stringent international security standards.
Banknbox offers a comprehensive range of in-house developed digital services, ensuring flexibility, customer-centric design, and cost-effective delivery. These services encompass mobile and internet banking applications, electronic wallets, encoding and e-KYC services, AI technology, secure card issuance and processing, and AI-powered fraud prevention systems.
