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Download logoPowered by Temenos Infinity, Suez Canal Bank to reimagine the digital customer experience for its retail, corporate and Islamic banking services; Temenos’ (www.Temenos.com) digital banking platform will help Suez Canal Bank drive sustainable growth and financial inclusion in country where more than 40 million are unbanked. Temenos (SIX: TEMN), the banking software company, today announced Suez Canal Bank has selected Temenos Infinity to transform the digital customer experience for its retail and business banking. Temenos Infinity provides a complete digital platform for Suez Canal Bank, covering the entire customer lifecycle from customer onboarding, account opening and digital servicing. With Temenos Infinity, the bank is able to bring new products to market faster, accelerate digital customer onboarding and increase front office efficiency to achieve a market-leading cost-income ratio. By making more banking products and services accessible and optimized for mobile devices and leveraging advanced technologies like AI for example for a new Chabot service, Suez Canal Bank aims to accelerate the shift from serving customers in branch to its digital channels. This will help the bank achieve its strategic goals to grow sustainably while delivering more value to customers and shareholders. Cairo-Based Suez Canal Bank is in the top 10 banks Egypt with over EGP50 billion in assets and a network of 48 domestic branches. It offers personal, corporate and Islamic banking products and services, including customized banking solutions to meet the needs of small and medium enterprises (SMEs). Digital banking is a top priority for Suez Canal Bank in relation to increasing financial inclusion. According to World Bank figures, Egypt's population of 64.7 million people over the age of 15 is largely dependent on cash with only 32.8% holding bank accounts. With Temenos Infinity, Suez Canal Bank’ customers will enjoy a seamless and frictionless digital experience to manage their cards and accounts, pay bills and other payments, apply for new products and services and engage with the bank via chat – all from their mobile device. Temenos Infinity also enables Suez Canal Bank to empower the decision making of its customers with smart banking solutions such as relevant insights and suggestions using personalized data and AI capabilities. This helps to remove the complexity of business banking to enable SME owners to focus on running their business and assists individual customers with the day-to-day decisions that affect their personal and financial lives. Suez Canal Bank is under process to upgrade of its Temenos Transact core banking system and together with Temenos Infinity is now able to achieve an end-to-end digital banking transformation. Hussein Refaie, Chairman and Managing Director of Suez Canal Bank, commented: “We are delighted to partner with Temenos to take our digital banking to the next level. Temenos is the market-leader in digital banking technology and has a strong local presence and record of success with banks in Egypt and the MEA region. Enabling and building engagement with our customers via digital channels is a key growth driver that will help Suez Canal Bank to attract a new generation of customers. This is a priority to support our growth plans but also as a boost to financial inclusion in Egypt.” Jean-Paul Mergeai, President of APAC and MEA, Temenos, said: “Suez Canal Bank has a long history with over 40 years of leadership in the banking sector in Egypt. The bank is undergoing an ambitious digital transformation and we are proud of the coordination between Temenos and the Information Technology division to finalize this phase in Suez Canal Bank’s development. The impact of Covid-19 has accelerated the need and opportunity for digital banking and with Temenos Infinity, Suez Canal Bank is primed to fast-track the digitization of products for its retail, corporate and Islamic banking customers and drive innovation in the market.” Suez Canal Bank joins a growing list of the top in Egypt to choose Temenos Infinity to accelerate their digital transformation initiatives, including Arab Investment Bank (https://bit.ly/3qmu2yk), and Egyptian National Post Organization (ENPO) (https://bit.ly/3kJNXWw) and Banque du Caire (https://bit.ly/30bjqaL).Distributed by APO Group on behalf of Temenos.Media Contact: Jessica Wolfe & Scott Rowe Temenos Global Public Relations Tel: +1 610 232 2793 & +44 20 7423 3857 Email: email@example.com Alistair Kellie & Andrew Adie Newgate Communications on behalf of Temenos Tel: +44 20 7680 6550 Email: firstname.lastname@example.org About Temenos: Temenos AG (SIX: TEMN) (www.Temenos.com) is the world’s leader in banking software. Over 3,000 banks across the globe, including 41 of the top 50 banks, rely on Temenos to process both the daily transactions and client interactions of more than 1.2 billion banking customers. Temenos offers cloud-native, cloud-agnostic and AI-driven front office, core banking, payments and fund administration software enabling banks to deliver frictionless, omnichannel customer experiences and gain operational excellence. Temenos software is proven to enable its top-performing clients to achieve cost-income ratios of 26.8% half the industry average and returns on equity of 29%, three times the industry average. These clients also invest 51% of their IT budget on growth and innovation versus maintenance, which is double the industry average, proving the banks’ IT investment is adding tangible value to their business. For more information, please visit www.Temenos.com. About Suez Canal Bank: Suez Canal Bank (www.SCBank.com.eg), an Egyptian joint stock company is a leading local financial institution with a long track-record in offering and performing financial services since its establishment. The Bank was established as a commercial bank in 1978, in accordance with provisions of investment Law No. 43 of 1974 and its amendments. Suez Canal Bank is involved in providing financial products and services to both institutional and individual customers, based on a three pillar strategic business model comprised of Institutional Banking, Personal Banking and Islamic Banking for corporate and individuals utilizing its network of 39 branches and a representative office in Tripoli, Libya in addition to a wide network of correspondents throughout the world. The Bank is committed to deliver growth and increase value for all its stakeholders. Suez Canal Bank is listed on the Egyptian Stock Exchange, number of shares is 200 million share capital 2 billion Egyptian pounds, main shareholders are Arab International bank, Libyan Foreign bank, Suez Canal (pension fund), Arab World co for financial investments, Arab Contractor Co (pension fund) and other free float. Suez Canal Bank employs about 1400 staff in 48 branches and a currency exchange office in Egypt and a representative office in Libya, with plans to grow as our network of branches is expanding over the coming years to continuously provide excellence in serving our clients.