Euronet Worldwide Implements Mobile Banking Solution For Arab Bank - Egypt
Euronet Worldwide Implements Mobile Banking Solution For Arab Bank - Egypt
Arab Bank, the largest bank in the Arab region with locations in more than 27 countries, has chosen Egypt as their first location to offer mobile banking. This solution has been deployed in conjunction with Euronet Worldwide and Click GSM, the Vodafone subsidiary in Egypt. Euronet Worldwide provides the comprehensive mobile banking software, which includes STK-based Account Access and a sophisticated event messaging solution that provides the customer with real-time alerts. Click GSM provides STK-based menus that the Arab Bank’s mobile banking subscribers can use to easily perform banking functions from their GSM telephones.
Arab Bank – Egypt is launching both STK-based Account Access and Event Messaging services. Account Access enables a customer to query their bank for account information, such as a balance or a ministatement, or to perform functions, such as intra-bank transfer even across different currencies. With Event Messaging, the bank communicates directly with the customer by sending account activity alerts, such as notification of deposit or of debit or credit card transactions. Additionally, the bank can send messages to clients, advertising new services or notifying them that cards are being delivered.
“We are thrilled to work with Euronet to implement Mobile Banking,” said Mr. Atef Sono, Arab Bank – Egypt Vice President, Management & Information System Manager. “Euronet’s quick-to-market solution enabled us to be one of the first banks in Egypt to provide mobile services to our customers. This distribution channel enhances our existing electronic touchpoints and helps differentiate us from our competitors. The professional, dependable and timely service is why we are discussing with Euronet Worldwide the roll out of such system in the rest of the Arab Bank branches all over the world.”
“The Arab Bank – Egypt is a great partner for a mobile banking project, because of their dedication to providing unique and progressive financial services to their customers,” said Michael Brown, Euronet Worldwide Chairman and CEO. “It helps us increase our electronic transactions volume across the Middle East. In addition, the proliferation of wireless devices provides the financial services industry one of the most exciting opportunities ever to really connect with their customers and provide them with real-time banking.”
About Euronet Worldwide
Euronet Worldwide is an industry leader in providing secure electronic financial transaction solutions. The company offers financial payment middleware, financial network gateways, outsourcing and consulting services to financial institutions and mobile operators. These solutions enable their customers to access personal financial information and perform secure financial transactions -- any time, any place. The company has processing centers located in the United States, Europe and Asia, including owning and operating the largest independent ATM network in Europe. Euronet was recently ranked number two on the Deloitte & Touche Technical Fast 500, a ranking of the fastest growing technology companies in North America. With corporate headquarters in Leawood, Kansas, USA, and European headquarters in Budapest, Hungary, Euronet serves more than 200 clients in 60 countries. Visit our web site at www.euronetworldwide.com.
About The Arab Bank
The Arab Bank, which started operations in Jerusalem in 1930, is now a leading international financial institution with more than 378 branches worldwide, and has a consistent record of profitability and an unequalled reputation for prudence and reliability. Its growth has taken place against a background of continuing political change throughout the Middle East. The Arab Bank has been affected by almost all the crises and changes in the area while never allowing them to deter it from its chosen role in supporting the development of the economy of the Arab community.