Egyptian National Post Organization (ENPO) has selected Swiss technology firm Temenos and its T24 Transact core banking system, replacing 20 legacy systems in the process, reports Alex Hamilton of Fintech Futures (Finovate’s sister publication).
T24 Transact will be deployed in the cloud alongside the vendor’s Infinity digital front office solution. Both will be used to underpin the firm’s drive to meet the Egyptian government’s financial inclusion initiatives.
ENPO has a network of 4,000 branches via its iPost, Post Express, and Post Cars channels. It provides financial services, including current and savings accounts, instant remittances, electronic collection with notification services.
Temenos said that it will be delivering a “single, packaged and upgradeable banking platform” and help EMPI create an “omnichannel, unified teller for all financial and non-financial services.”
“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,” said Andreas Andreades, executive chairman at Temenos.
Egypt’s National Financial Inclusion Initiative, sponsored by Egypt’s Government, aims to promote the use of digital financial services throughout the nation.
“Temenos is committed to enabling Egypt’s Digital Economy Transformation and Financial Inclusion program,” added Andreades. “We believe that ENPO’s end-to-end digital transformation will help them realize this digital vision and promote financial inclusion in Egypt.”
Temenos demonstrated its Connect Mobile Banking solution at FinovateEurope 2015. The company is also an alum of our developers conferene, FinDEVrSiliconValley 2015, where it discussed the evolution of and opportunities in its B2B financial apps marketplace.