To speed up the digital transformation of Egypt’s financial ecosystem, Mastercard and the Arab African International Bank (AAIB) have launched a long-term strategic relationship.
By working together, Mastercard and AAIB will develop payment solutions that meet the growing consumer demand for simple and secure digital payment options. They will also plan and carry out AAIB’s digital transformation strategy.
“We are thrilled to be AAIB’s partner of choice in its future focused journey. As a global technology leader, Mastercard is committed to empowering financial institutions with innovative payment solutions that accelerate digital growth and create meaningful customer experiences,” said Khalid Elgibali, Division President of Middle East and North Africa at Mastercard. “Our long-standing collaboration with AAIB builds on Mastercard’s commitment to drive sustainable growth, expand cashless societies, and create a bright and inclusive future for all.”
Haytham El Maayergi, AMD- Group Chief Operating & Transformation Officer at AAIB, Dina Zikry, Head of Consumer Banking and Financial Inclusion at AAIB, Khalid Elgibali, Division President, Middle East, and North Africa at Mastercard, Adam Jones, Country General Manager, MENA Central at Mastercard, and other notable members of both parties attended the signing ceremony.
“Our long-term partnership with Mastercard will enable us to bring innovative payment solutions to more customers across Egypt,” said Haytham El Maayergi, AMD- Group Chief Operating & Transformation Officer at AAIB. “This agreement reflects our strategy and our commitment to develop products and solutions that meet the diverse needs of our customers. With Mastercard’s fundamental expertise and products innovation, we will be able to diversify our portfolio, expand our reach and further enhance our products’ features and privileges.”
In order to support digital transformation, promote financial inclusion, and support the transition to an inclusive digital economy in Egypt, Mastercard builds on its extensive expertise. Such initiatives are in line with Mastercard’s global commitment to bringing 50 million micro and small businesses and 1 billion people online by 2025, with a specific focus on offering 25 million female entrepreneurs solutions that can aid in the expansion of their companies.
Adam Jones, MENA Central’s country general manager, said:
“Egypt is rapidly embracing digital payments and we believe that effective collaborations are key to drive financial inclusion and payment innovation. We are thrilled to partner with AAIB through this milestone agreement and provide the bank with the necessary solutions to best meet the changing expectations of their customers.”
With the launch of several departments and the integration of specialized teams focusing on digital transformation and various other projects, AAIB has advanced its 2021–2025 strategy. AAIB was a pioneer and one of the first banks to launch WhatsApp and phone banking services as well as the “Digital Factory,” a new operational model that offers customers faster and better services and products.
“Our partnership with Mastercard provides the bank with opportunities to launch new technological and advanced products in line with the needs of the current banking market,” said Dina Zikry, Head of Consumer Banking and Financial Inclusion. “Our collaboration is a positive step into the Arab African International Bank’s strategy in achieving digital transformation and providing services that suits different types of customers. Diversity, expansion, and development are the characteristics and advantages of our banking services, which contributes to achieve customer satisfaction.”
