IBM Joins Forces with FABMisr to Revolutionize the Banking Experience with AI in Egypt

Cairo, Egypt, 22 February 2024 – Through a long-term collaboration, IBM has partnered with FABMisr, one of the largest banks in Egypt, to employ IBM’s Cloud Pak solutions to facilitate the bank’s revolutionary digital transformation journey. The collaboration focused on transforming FABMisr’s business processes and overall customer experience, delivering unparalleled reliability, security, and speed to their clients.

Leveraging AI software with IBM Cloud Pak for Integration and IBM Cloud Pak for Business Automation built on Red Hat OpenShift, FABMisr has unlocked a world of digital innovation. These comprehensive platforms provide seamless integration and AI-powered automation capabilities that accelerate digital transformation.

Recognizing the need to embrace a customer-centric approach, FABMisr has transitioned their banking model and operations to meet the evolving demands of the modern world. With a relentless focus on enhancing return on investment (ROI) and exploring new revenue streams, FABMisr has taken a bold step forward, guided by the expertise of IBM.

Harnessing the power of AI, IBM Cloud Pak for Business Automation equipped FABMisr with a robust toolkit for automation. This advanced solution ensured regulatory compliance and enabled FABMisr to enhance their operational efficiency and elevate their customer experience to extraordinary new heights.

“We are thrilled to be part of FABMisr’s commitment to providing exceptional customer experiences and helping them realize their goals. With the ever-changing needs of clients, enterprises need to remodel their operational workflows to accommodate such demands. AI-powered solution systems help us to make better decisions and build agile operational processes that offer unmatched reliability. With IBM’s AI, that is carefully curated to empower financial institutions with solutions to upgrade business processes, streamline workloads and optimize resources, FABMisr now enjoys unparalleled adaptability to changing business needs.” Said Marwa Abbas, General Manager, IBM Egypt

Shaarawy Mohamed, FABMisr’s Chief Technology Officer, said: “At FABMisr, our passion is unyielding when it comes to delivering excellence to our customers, ensuring that we not only meet but exceed the evolving needs and expectations of our clients. Through this pivotal partnership, IBM’s cutting-edge technology and deep industry expertise empower us to harness the full potential of AI and digital innovation. Their digital solutions are integral to our strategy, enabling us to deliver a banking experience that is both transformative and tailored to the modern consumer. Together with IBM, we are setting new standards in the banking sector and shaping the future of banking in Egypt.”

Through the integration capabilities of IBM Cloud Pak for Integration built on Red Hat OpenShift, FABMisr is equipped with the vital tools to connect their enterprise applications swiftly. Seamlessly developing, deploying, and managing APIs, while ensuring secure API traffic and adopting an event-based architecture, FABMisr is at the forefront of innovation.

The collaboration between FABMisr and IBM represents a significant milestone in the banking industry, showcasing the capabilities of digital transformation. These joint efforts are redefining the future of banking in Egypt, setting new standards of excellence, and inspiring other financial institutions to embark on their own transformative journeys.