May 16, 2023 – The Housing and Development Bank (HDB) achieved strong and remarkable growth rates in the field of digital services during the current year, as the growth in the number and value of bank transactions were estimated at approximately 250%, and the number of subscribers in the mobile and internet banking services increased by about 25%, according to the Bank’s CEO Hassan Ghanem.
The volume of financial transactions through the InstaPay application also increased significantly, since the bank joined the service in December 2022.
Ghanem said that the bank adopted an ambitious expansion strategy in the field of digital transformation, by developing and modernizing the bank’s technological structure and providing it with the latest digital systems through growing investments to meet the rapid and successive digital transformation, in order to enhance the policy of the state and the central bank to transform into a cashless society as the most secure, accurate and flexible way.
He added that the bank was able, within a short period of time, to achieve clear achievements and steady steps towards digital transformation, with the aim of reaching the largest customer base and providing various banking services and products to meet their needs to support financial inclusion and enhance the culture of electronic payment.
He affirmed the bank’s keenness to launch many applications and electronic services, which are considered a breakthrough in the field of digital services such as the electronic wallet, the Internet and mobile banking, which provide more than 50 services directly to facilitate customers through these applications such as transferring money inside and outside the bank and opening accounts online, linking new certificates, managing customer cards, paying credit card debts and many other services, in addition to the InstaPay application, cash in & cash out services, and expanding the number of ATMs, which reached 440 machines in various governorates of the Republic, noting that the Bank has initiated huge investments to develop and update these applications and provide them with the latest digital systems to meet the rapid and successive digital transformation.
In conjunction with the start of his new term as CEO, Ghanem stressed the continuation of implementing the digital transformation strategy during the next stage and adopting all developments in the field of financial technology, which supports the bank’s vision and strategy to become one of the largest commercial banks in the Egyptian banking market.
Image: Daily News Egypt