Egypt’s QNB ALAHLI signs Network International to support digital and commercial transformation
Egypt, 11 December, 2022: Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, has signed a 10-year contract with one of Egypt’s largest private sector banks, QNB ALAHLI, to provide payments processing solutions and API gateway services to support the bank’s long-term digital and commercial transformation agenda.
QNB ALAHLI is a subsidiary of the QNB Group, the biggest financial institution in the Middle East and Africa. The agreement with Network International is part of the bank’s digital-first strategy to enhance its proposition to customers and increase its presence in the Egyptian market. With evolving consumer payment trends in the North African region, Network will enable QNB ALAHLI to offer digital payment solutions including card and next-gen ecommerce solutions to their customers.
Collaborating with Network offers QNB ALAHLI access to Network’s years of experience and expertise in holistic payment solutions for the North African market. QNB ALAHLI will benefit from Network’s advanced digital infrastructure and robust security protocols, avoiding the need to invest in payment processing infrastructure.
Additionally, Network’s API gateway expertise will enable QNB ALAHLI with a future-ready microservices architecture that allows for the seamless integration of any number of advanced implementations, ensuring maximum potential for creative revenue streams for the next decade.
Mr. Mohamed Bedeir, Chief Executive Officer of QNB ALAHLI, said: “Within QNB ALAHLI’s pioneering role in supporting digital transformation and creating a market less dependent on cash, the bank trusts the rapid growth in the payment industry through digital and commercial transformation driven by Network International’s proven capabilities.
“Our 10-year agreement will open up limitless opportunities for QNB ALAHLI and Network International to go far beyond all ambitions as we are keen to provide the best innovative and advanced services to suit the aspirations and needs of all our customers.”
Dr. Reda Helal, Group Managing Director – Processing, Africa & Co-Head Group Processing at Network International commented, “We are thrilled to be spearheading a long-standing relationship supporting one of the largest financial institutions in Egypt with their digital and commercial transformation. The 10-year contract marks a pivotal point for our processing business in North Africa given how crucial QNB ALAHLI is to the region’s banking sector. We look forward to pushing the limits and extending our capabilities in terms of innovation, API infrastructure, and long-term customer satisfaction.”
The strategic, 10-year agreement with QNB ALAHLI covers multiple product lines that will have a major impact on business generated by cards and other modes of digital payment, while also enabling QNB ALAHLI to offer premium payment solutions to their customers.