The United Bank of Egypt (UBEG) has selected Misys, a provider of financial services software, to upgrade its core banking infrastructure as part of a modernisation project at its retail, SME and corporate businesses.
The bank has been operating Misys’ older versions of Equation, Opics and Trade Innovation for around a decade.
It will now shift to the latest version of Misys FusionBanking Equation to support its core banking infrastructure and FusionBanking Trade Innovation for supply chain and trade finance.
Additionally, the lender will also deploy FusionBanking Essence Teller that integrates directly with FusionBanking Equation to provide an efficient branch network.
The new platform will be launched across 50 branches of UBEG.
UBEG vice chairman and managing director Farag Abdel Hameed said: "By upgrading to the latest versions of Misys solutions we will be able to improve service levels, increase customer satisfaction and introduce competitive products faster. In doing so, we can meet our clients’ expectations of being a central hub for all of their financial needs."