In response to the evolving technological landscape within the banking sector, Al Baraka Bank Egypt has announced the launch of its new mobile banking application as part of its 2023–2025 strategy, alongside a comprehensive upgrade to its internet banking service, focusing on both the range of services provided and an entirely new user interface. The app aims to boost the bank’s market share by advancing its digital ecosystem and expanding its geographical reach, with a target of achieving 50% digitally active customers, both individuals and businesses, by the end of 2027. Al Baraka Bank is one of the first four banks in Egypt to launch a corporate mobile banking application, reinforcing its leadership in providing innovative banking solutions tailored to commercial needs.
On this occasion, Mr. Hazem Hegazy, CEO & Vice Chairman of Al Baraka Bank Egypt, stated, “The new mobile banking app is a pivotal step in our digital transformation journey. It reflects our commitment to delivering an innovative and user-friendly banking experience for both individual and business customers. The app simplifies banking operations and adheres to the highest international and local security standards, as endorsed by the Central Bank of Egypt, ensuring a secure and advanced banking experience. We expect over 10,000 downloads in the post-launch phase.”
Mr. Abdel Aziz Samir, DCEO for Consumer Banking, commented: “The launch of the mobile banking app is part of Al Baraka Bank Egypt’s support for the fintech industry, aimed at accelerating digital transformation and leveraging available digital opportunities for economic growth. At Al Baraka Bank Egypt, we aim to reach diverse customer segments, and we have an ambitious digital expansion plan that includes opening two digital branches soon, increasing the number of ATMs with contactless transaction features, and enhancing ATM network security with the latest global standards. Additionally, we are preparing to launch Chatbot services and WhatsApp for Business soon.”
Engineer Redallah Ahmed, Chief Digital Officer at Al Baraka Bank Egypt, added: “The mobile banking app for Al Baraka Bank Egypt offers a variety of features, including self-registration for individual clients via account number, ensuring a quick and easy start. Moreover, the app supports biometric verification (facial recognition or fingerprint) for advanced security and convenience. It also provides comprehensive services such as opening accounts, ordering checkbooks, issuing debit cards, purchasing certificates, linking deposits, converting foreign currency to Egyptian pounds, and instant transfers to Al Baraka accounts, as well as local transfers. These capabilities allow customers to manage their banking needs without visiting branches.”
He continued, “For corporate clients, the app offers an easy platform for financial management, with features granting users full control over their banking transactions. Coupled with a user-friendly ‘three-tap’ interface, this makes the app an all-encompassing solution, positioning Al Baraka Bank Egypt at the forefront of digital banking solutions in the industry.”
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