{"id":559654,"date":"2021-01-31T04:08:09","date_gmt":"2021-01-31T04:08:09","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/"},"modified":"2021-01-31T04:08:09","modified_gmt":"2021-01-31T04:08:09","slug":"cib-sees-digital-banking-boom","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/","title":{"rendered":"CIB sees digital banking boom"},"content":{"rendered":"<p><strong>2020 was a boom year for digital banking at CIB<\/strong>, which reported a 118% increase in the value of mobile banking transactions to hit EGP 53 bn, Deputy COO Mohamed Farag told<a href=\"https:\/\/alborsaanews.com\/2021\/01\/28\/1415449\">the press<\/a>. The total number of retail customers using internet banking services increased 35% during the year, he said.<\/p>\n<p><strong>And its mobile wallet saw strong growth: <\/strong>CIB Smart Wallet had 34% more users by the end of the year, with users more than doubling their transactions to EGP 2.8 bn as covid-19 restrictions forced many P2P and other transactions to go digital, Farag said. The bank now has a 20% activity rate in smart wallets, he said.<\/p>\n<p><strong>Also noteworthy: Many corporates have shifted \u201centirely\u201d to digital channels<\/strong>, with B2B seamless transactions climbing 93% y-o-y in 2020 and the number of new businesses registering for internet banking increasing 45%, Farag said.<\/p>\n<p><strong>ALSO IN BANKING- <\/strong><strong>Banque Misr is looking to expand its offerings in Somalia, Djibouti and <\/strong><strong>Kenya<\/strong> as part of the bank\u2019s <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bd05768-b7d5-4e79-b38b-e46b5db8dcfc\">expansion into East Africa<\/a>, Deputy Chairman Akef El Maghraby told <a href=\"https:\/\/bit.ly\/3j0ODG4\">Al Shorouk<\/a>. The bank is also looking to expand in C\u00f4te d\u2019Ivoire. Banque Misr currently has a <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/2bd05768-b7d5-4e79-b38b-e46b5db8dcfc\">rep office in Nairobi<\/a>, while Banque Misr Liban has a representative office in C\u00f4te d'Ivoire\u2019s Abidjan. The bank also plans to set up shop in Riyadh, said El Maghraby, without specifying a timeline.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>2020 was a boom year for digital banking at CIB, which reported a 118% increase in the value of mobile banking transactions to hit EGP 53 bn, Deputy COO Mohamed Farag toldthe press. The total number of retail customers using internet banking services increased 35% during the year, he said. And its mobile wallet saw [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":559655,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7350],"tags":[204,240,107,155,72,290,183],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-559654","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-banking","tag-cib","tag-covid-19","tag-digitization","tag-enterpriseam","tag-financial-inclusion","tag-fintech","wpautop","entry"],"acf":{"mongo_id":"208829a0-ff48-42c4-8f8b-192fc881f04d","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/1\/368.jpg","photo_position":"above","related_issue":[559637],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>CIB sees digital banking boom - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"CIB sees digital banking boom\" \/>\n<meta property=\"og:description\" content=\"2020 was a boom year for digital banking at CIB, which reported a 118% increase in the value of mobile banking transactions to hit EGP 53 bn, Deputy COO Mohamed Farag toldthe press. The total number of retail customers using internet banking services increased 35% during the year, he said. And its mobile wallet saw [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-31T04:08:09+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/368.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"CIB sees digital banking boom\",\"datePublished\":\"2021-01-31T04:08:09+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/\"},\"wordCount\":225,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2021\/1\/368.jpg?fit=%2C&ssl=1\",\"keywords\":[\"banking\",\"CIB\",\"covid-19\",\"digitization\",\"EnterpriseAM\",\"financial inclusion\",\"Fintech\"],\"articleSection\":[\"Banking\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2021\/01\/31\/cib-sees-digital-banking-boom\/\",\"name\":\"CIB sees digital banking boom - 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The\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576633,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/02\/07\/cib-overseas-banking-tailored-services-for-a-global-lifestyle\/","url_meta":{"origin":559654,"position":1},"title":"CIB Overseas Banking: Tailored services for a global lifestyle","author":"enterpriseam admin","date":"7 February 2020","format":false,"excerpt":"Are you living abroad and in need of reliable and convenient banking services in Egypt? CIB is proud to introduce a new banking experience tailored for Egyptians and foreigners living outside Egypt to enjoy exclusive services to suit your global lifestyle. CIB is at your fingertips anytime, anywhere. Wherever you\u2026","rel":"","context":"In &quot;VISUAL ART AS A SOCIAL STATEMENT&quot;","block_context":{"text":"VISUAL ART AS A SOCIAL STATEMENT","link":"https:\/\/enterpriseam.com\/egypt\/category\/visual-art-as-a-social-statement\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/2\/375.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576848,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/11\/06\/enjoy-cib-internet-and-mobile-banking\/","url_meta":{"origin":559654,"position":2},"title":"Enjoy CIB Internet and Mobile Banking","author":"enterpriseam admin","date":"6 November 2020","format":false,"excerpt":"Enjoy CIB Internet and Mobile Banking: You can bank from the comfort of your computer and smartphone with CIB internet and Mobile Banking solutions where you can conveniently: View your information: Check your account balances, credit cards, deposits, loans and mutual fundsTrack movements on your accounts, credit cards, and mutual\u2026","rel":"","context":"In &quot;ENJOY CIB INTERNET AND MOBILE BANKING&quot;","block_context":{"text":"ENJOY CIB INTERNET AND MOBILE BANKING","link":"https:\/\/enterpriseam.com\/egypt\/category\/enjoy-cib-internet-and-mobile-banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/11\/339.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":576705,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/04\/03\/cib-mobile-banking-helping-you-manage-all-your-financial-needs-from-the-comfort-of-your-home\/","url_meta":{"origin":559654,"position":3},"title":"CIB Mobile Banking: helping you manage all your financial needs from the comfort of your home","author":"enterpriseam admin","date":"3 April 2020","format":false,"excerpt":"CIB now fits in your pocket to help you manage all your financial needs. CIB is advising all its customers to stay at home whenever possible, to help slow the spread of covid-19. In these unusual times, the safety and wellbeing of our customers is our top priority. Our mobile\u2026","rel":"","context":"In &quot;THE ARCHITECTURE OF GREAT CIVILIZATIONS&quot;","block_context":{"text":"THE ARCHITECTURE OF GREAT CIVILIZATIONS","link":"https:\/\/enterpriseam.com\/egypt\/category\/the-architecture-of-great-civilizations\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/4\/289.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":568492,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/12\/31\/568492\/","url_meta":{"origin":559654,"position":4},"title":"CIB now fits in your\u2026","author":"enterpriseam admin","date":"31 December 2020","format":false,"excerpt":"CIB now fits in your pocket to help you manage all your financial needs. CIB is advising all its customers to stay at home whenever possible, to help slow the spread of covid-19. In these unusual times, the safety and wellbeing of our customers is our top priority. Our mobile\u2026","rel":"","context":"Similar post","block_context":{"text":"Similar post","link":""},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":576764,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/06\/05\/cib-wealth-allows-you-to-access-your-banking-services-on-the-go\/","url_meta":{"origin":559654,"position":5},"title":"CIB Wealth allows you to access your banking services on the go","author":"enterpriseam admin","date":"5 June 2020","format":false,"excerpt":"Music to our ears: CIB Wealth allows you to access your banking services on the go. It\u2019s now easier than ever to take care of your banking needs without visiting a branch. 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