Egyptian National Post Organisation (ENPO) has selected Temenos to power its digital transformation and promote Egypt’s Government initiative for financial inclusion.
Through the partnership, ENPO hopes to contribute to Egypt’s National Financial Inclusion Initiative, which aims to promote the use of digital financial services.
Temenos’ software will help ENPO optimise its operations. Additionally, it will allow ENPO achieve the differentiation it needs to compete with accelerating market privatisation, deregulation and globalisation.
Andreas Andreades, Executive Chairman, Temenos, said: “We are excited to partner with ENPO on its digital transformation journey. Temenos is committed to enabling Egypt’s Digital Economy Transformation and Financial Inclusion programme.
“Egypt is a country of great importance for Temenos; we are the leading banking software provider serving over 12 banks in the country and have been in the region for over two decades.
“Temenos’ innovative technology can help make the banking industry better and improve people’s lives. I am really proud to see that over 500 million people globally rely on our software for their banking services. We believe that ENPO’s end-to-end digital transformation will help them realise this digital vision and promote financial inclusion in Egypt.”
In October, Consolidated Bank Ghana (CBG) also tapped Temenos T24 Transact to power its operations for retail and corporate banking. The aim was to increase operational efficiency and lower cost-income ratio. Like in Egypt, the partnership was also formed to support financial inclusion in Ghana.
ENPO is one of the largest and oldest postal, financial and governmental service providers in the Middle East. It has an extensive services portfolio supporting over 30m registered as well as walk-in customers.
In addition, the financial institution has a network of 4,000 branches and thousands of PoS channels such as iPost and Post Express. ENPO also provides financial services, including current and savings accounts as well as instant remittances.