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Recent Technological Development Process 

Our Company “CoreSysPlus” is providing the required support and consultancy services to ABE for the implementation of “Finacle Core Banking System”

Finacle is the industry-leading digital banking solution suite from Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights–driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.

How We Operate

Requirements Gathering

Expected to become “the gate of financial inclusion in Egypt”; the Agricultural Bank of Egypt (ABE) has a large network of more than 1,200 branches, forming around 25% of the number of branches in the Egyptian banking sector as a whole, furthermore, all these branches are spread across the governorates, villages and countryside, where the bank can raise the level of financial inclusion mandated by the Egyptian Monetary Authorities, and transform society into a cashless one.

ABE was founded with the objective of developing Egypt’s agricultural sector. In the ensuing years the bank grew rapidly to become the largest financial institution in the Arab world that serves the specific interests of the farming community.

The Bank new strategy is based on several axes; including mainly the technological development of all its sectors through working on modernizing the technological infrastructure as well as creating a database that connects all its branches.

The Bank business relies mainly on special underwriting system for agriculture loans, providing special loan types and services to the agricultural activities segment. According to recent press releases, its credit portfolio has witnessed a record increase registering 44 billion pounds in November 2020 compared to approximately 32 billion nine months earlier, jumping 37.5 percent, moreover, has succeeded also in attracting about 500 thousand customers reaching 3.5 million in nine months while aiming to reach a client base reaching 30 million customers within the next few months.

“ABE will be one of the largest banks in the country within 3-4 years”, predicted Tarek Amer, The Central Bank of Egypt governor.

This digital transformation process has adopted the “Finacle Core Banking System” as one of its main pillars of development.

As part of post-study activities, a gap analysis will be carried out to arrive at the solution approaches that may involve customization approaches.

Finacle addresses the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking solution, on average, enjoy 7.2% points lower cost-to-income ratio than others.

Finacle, the universal banking solution from Infosys, empowers banks to transform their business leveraging technology. Finacle has been architected out of years of experience with global banks and offers several powerful and differentiating features making it one of the most comprehensive, flexible, and scalable solutions in its class.

Our company’s list of services provided includes the following:

  • Functional Consultancy
  • Training
  • Technical Services
  • Data Migration
  • System Maintenance

Want to gain a comprehensive set of capabilities? including flexible product factories, extensive, product bundling and reusable business components, to help accelerate innovation led growth like ABE ? parameterization Contact us today

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Want to gain a comprehensive set of capabilities? including flexible product factories, extensive, product bundling and reusable business components, to help accelerate innovation led growth like ABE.