Suez Canal Bank signed a strategic partnership agreement with Visa, the world leader in digital payments. This partnership aims to support the bank’s digital transformation strategy by providing advanced payment solutions that go beyond traditional card services. It includes the development of innovative digital products, collaboration with fintech companies, and the enhancement of digital banking services.
This partnership reflects the bank’s keenness to offering a modern and integrated banking experience, expanding the base of customers benefiting from its digital services, and designing products tailored to different customer segments, including youth and highly tech-savvy users.
As part of this partnership, Suez Canal Bank is planning to launch new products in collaboration with Visa, including:
1) Visa Infinite Privilege Credit Card:
Visa Infinite Privilege is a Credit Card that provides its holder with exceptional features and comes in an elegant metal design that combines strength and sophistication, giving a feeling of luxury.
The Card is designed to offer an unprecedented level of privileges and services to the bank’s high-net-worth clients, combining financial strength, travel privileges, and special tailored services designed to cater to the lifestyle of high-net-worth clients; which reinforces the bank’s strategy of providing innovative payment solutions and expanding its premium card product range, reflecting the bank’s commitment to providing innovative banking products & services that meet the requirements of the bank’s high-net-worth clients.
2) Visa Flexible Credential:
This product supports the bank’s digital transformation strategy by offering a flexible and seamless payment experience that strengthens customer loyalty and enables the bank to develop more innovative and differentiated financial offerings. It also enhances the bank’s positioning by simplifying the payment process for cardholders.
In this context, Mr. Akef El Maghraby, CEO and Managing Director of Suez Canal Bank, said: “This strategic partnership with Visa comes as part of the bank’s ambitious plan to accelerate digital transformation and expand electronic payment services. It aligns with global developments in the financial sector and strengthens our ability to offer innovative solutions that enrich our customers’ experience and meet their needs.”
Meanwhile, Malak El Baba, Visa’s Country Manager for Egypt, said: “We are proud to be part of the revolutionary transformation taking place at Suez Canal Bank, and we continue to support the bank in its digital transformation journey through our latest payment technologies and solutions that advance financial inclusion and enrich the customer experience in Egypt”.
She added: “We continue our efforts to support financial inclusion and in providing the new generation with digital tools that help them manage their finances with greater flexibility and confidence, in line with our vision for the future of digital payments in Egypt”.
About Suez Canal Bank
Suez Canal Bank is an Egyptian joint stock company established as a commercial bank in 1978. The Bank’s issued and paid-up capital amounts to EGP 6.5 billion, distributed over 650 million shares, while its authorized capital stands at EGP 10 billion.
Suez Canal Bank provides a wide range of banking products, financial services, and tailored solutions to both corporate and individual clients through 54 branches in Egypt and a representative office in Libya, including one branch dedicated to Islamic banking services. SCB also operates an extensive network of ATMs across Egypt, in addition to a global network of correspondent banks.
Driven by a strategic vision for growth, Suez Canal Bank is expanding its retail banking services to individual customers & Entrepreneurs by introducing new products and packages designed to attract customers from all segments. The bank also focuses on payroll programs, it also continues to develop targeted programs for youth and women, offering a wide variety of financial and non-financial services, including savings products, loans, and new credit cards, supported by seasonal promotional campaigns to meet various needs.
As part of its expansion strategy, the bank continues to strengthen its geographical presence by increasing its branch network and expanding its ATMs, which currently stands at 123 machines covering all governorates, with a focus on residential and industrial areas. The bank also continues to advance its digital transformation strategy to enhance customer experience across its digital platforms and applications.
About Visa:
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities in more than 200 countries. Visa’s mission is to connect the world through the most innovative, convenient, reliable, and secure payment network, enabling individuals, businesses, and economies to thrive. We believe that economies that include everyone, everywhere uplift everyone, everywhere, and we view accessibility as the foundation for the future of money movement.
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