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Cairo – CGC Egypt has launched a digital platform to offer real-time portfolio analysis and secure information exchange services, according to a press release.
The platform comes as a part of interactive services for the financial institution’s banking clients, which are set to be available on 1 October.
The announcement was made during a meeting between CGC Egypt officials and members of the SMEs Committee of the Federation Of Egyptian Banks.
Khaled Gamal, Managing Director of CGC, affirmed that the company is committed to enhancing its business and services, adding that October 2024 will mark a new beginning.
Gamal highlighted that the company issued guarantees worth EGP 13 billion from May to date, while EGP 19 billion in guarantees were renewed, along with disbursements totalling EGP 750 million.
Since the beginning of 2024, the total guarantees disbursed amounted to EGP 1.30 billion.
Rani Sabry, Head of the IT Sector at CGC Egypt, indicated that the CGC platform will provide interactive information reports for each bank, enabling them to access and analyse transaction data with the company as well as obtain various reports.
Additionally, secure communication channels will be established with banks for sending and exchanging data in compliance with the cybersecurity framework issued by the Central Bank of Egypt (CBE).
Meanwhile, the platform will be fully completed next year, enabling secure digitalisation of all transactions between banks and the company. It will allow the banks to implement several operations in real-time, such as issuing new guarantees, renewing existing ones, and cancelling guarantees, among others.
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