Cairo – First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, has announced the launch of its newest corporate online banking channel, "FABMISR E-Connect,” designed specifically for multinationals and large corporates. This innovative channel reflects the bank’s commitment to providing cutting-edge banking solutions that redefine the corporate customer experience.

FABMISR E-Connect online banking channel offers an integrated banking experience, allowing companies to monitor and manage all their bank accounts with FABMISR, as well as view accounts held with other banks within Egypt or internationally through the MT940 service. Additionally, the channel enables clients to track loan and deposit accounts and generate accurate, real-time account statements at any time, providing ultimate flexibility in financial management.

In partnership with Mindgate, a global leader in real-time payment technology, FABMISR introduces a seamless digital platform that streamlines financial operations. Leveraging Mindgate’s proven expertise in high-scale transaction processing, the platform eliminates traditional complexities like manual payments and email communications, enabling clients to manage transactions effortlessly.

Commenting on the launch, Sherif Sabry, Head of Corporate & Commercial Banking Group in FABMISR, said: “The launch of the FABMISR E-Connect online banking channel marks a transformative step that empowers our corporate clients to manage their financial resources with unparalleled efficiency and transparency. It enhances their ability to make strategic financial decisions that support business growth. This advanced channel not only meets all corporate needs but also contributes to the state's objectives of promoting financial inclusion by enabling more businesses to benefit from modern banking solutions that align with market developments and foster an investment-friendly environment.”

In terms of transaction execution, the channel supports local and international payments in both local and foreign currencies, including scheduled transactions and standing instructions. It also facilitates bulk payment uploads, allowing large-scale operations to be executed with precision and speed. Additionally, clients can register beneficiaries in bulk, simplifying processes further.

For security, FABMISR sets a new standard with its dual-factor authentication system via a secure smart token application, eliminating the need for traditional token devices and enhancing transaction safety. Moreover, the channel allows companies to design flexible and complex authorization matrices tailored to their operational needs, ensuring maximum control.

It is worth noting that the launch of FABMISR E-Connect represents a new milestone in FABMISR’s journey toward achieving full digital transformation. This achievement supports the bank’s strategy to provide innovative solutions that enhance the efficiency of corporate banking operations, solidifying its position as a leader in delivering digital banking services in the Egyptian market.

About FABMISR:

FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR’s local network operates through 72 branches, where it provides leading banking products and services that cater to all customer segments; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy.        

FAB is one of the world’s largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad.

FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P, and Fitch, respectively), making it the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM.

For more information on FABMISR, please visit https://www.fabmisr.com.eg/en/