Crédit Agricole Egypt wins 2 Global Finance awards for digital banking services

The bank took home the top awards in the Best Mobile Banking Adaptive Website -consumer category and the Best Trade Finance Service- corporate category


Global Finance, the leading internationally-renowned media institution, has announced that Crédit Agricole Egypt won two digital awards for its digital banking services.

The bank took home the top awards in the Best Mobile Banking Adaptive Website -consumer category and the Best Trade Finance Service- corporate category

The announcement of the 21st Global Finance Awards for the best digital banks comes in recognition of the leading banks providing digital banking services worldwide.

It also reflects the culmination of Crédit Agricole Egypt’s continuous efforts to innovate digital banking services for both the consumer and corporate sectors. Global Finance is a major media institution with a focus on banking and financial sectors, providing studies showing new business trends for corporate leaders, bankers and investors in 163 countries.

“I would like first to congratulate the bank’s staff for their continuous efforts to accelerate the implementation of our plans for digital transformation” said Pierre Finas, Managing Director of Crédit Agricole Egypt, “Building on the recently received awards ‘Most Innovative Bank’ award from Global Business Outlook and ‘Best Private Bank for VIP Clients’ from Global Finance, we are proud that every year we receive a number of important awards that we consider a confirmation of the pertinence of our strategies to serve all customer segments including companies, individuals and VIP customers.”

Finas added, “As the satisfaction of our customers is our top priority, the bank’s plans are based on meeting their needs and aspirations, now and in the future, and as a result, the digital development and transformation is a key pivot in the bank’s plans.”

The bank is keen to ensure the cohesion of its plans with the directions of the Central Bank of Egypt (CBE), to serve the goals of the Egyptian economy and community, he said.

Walie Lotfy, Deputy Managing Director at Crédit Agricole Egypt, said, “The worldwide circumstances due to the COVID-19 pandemic contributed to a rapid transition in digital banking services. We always think about the future and set ambitious goals for ourselves, but this time the future has come to us faster than we could imagine.”

He added, “The bank recorded a significant increase in the number of customers’ logging into our digital services, which saw about 4 million log-ins during the first seven months of 2020, recording an increase of more than 100% compared to the same period in 2019.”

Lotfy also said that the bank registered over 650,000 digital transactions during the same period, both for retail and corporate clients. Digital transfers also saw an increase, to 85%, of total individual transfers since pandemic began, confirming the resilience and efficiency of the bank’s digital services platform, as well as the strong national transition into a cashless society.

”To achieve this success, we are keen to continuously develop our services, and in 2020, we have introduced, for the first time in Egypt, the concept of ‘banki Lite’ as an adaptive mobile banking service for individuals, to offer a new banking experience for customers who can now enjoy the mobile application through their computers,” Lofty said, “This reinforces the idea of the omnichannel, where the same services are made available through different channels, and customers enjoy the freedom to choose between them according to their convenience“.

The Global Finance awards jury, which includes international banking and technology consultants and Global Finance editors, mentioned in its report that the winners’ selection is based on the strength and clarity of the bank’s strategy.

The jury also highlighted the banking sector’s efforts to constantly introduce new digital banking services, and to encourage customers to use digital services, justified with the continuous increase in the number of the bank’s customers using its digital services.

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