- Through this agreement, NBE will be the first bank in the Middle East and North Africa region to explore and integrate digital humans into its digital operations.
Cairo, Egypt: 8 September 2024: Mastercard and the National Bank of Egypt (NBE) have signed an agreement to introduce AI- powered digital employees to manage non-financial customer interactions and provide superior digital services virtually.
Yehia Abou ElFotouh, Deputy Chairman of the National Bank of Egypt, said, “In a groundbreaking move, the National Bank of Egypt leverages its extensive expertise in digital integration to revolutionize its non-financial services. Teaming up with global tech company in the payment industry, Mastercard, the bank is dedicated to providing innovative and highly efficient services. This strategic collaboration aligns with the rapid advancements in artificial intelligence, augmented reality, and the evolving landscape of digital transactions in Egypt. By leveraging the power of Mastercard’s industry-leading capabilities, the bank aims to elevate and expand its customer offerings. This cutting-edge technology, rooted in artificial intelligence techniques, reflects a global trend in various sectors.”
Selin Bahadirli, Executive Vice President of Services, Eastern Europe, Middle East, and Africa, Mastercard, added “In a rapidly evolving world where consumer needs are constantly shifting, it is crucial for customers experiences to seamlessly transition from the physical realm to the digital realm. Mastercard’s AI-powered digital employees are at the forefront of this transformation. We are delighted to announce our partnership with NBE, which brings forth immersive digital experiences and revolutionizes customer interactions.”
According to Karim Soos, CEO of Retail Banking and Branches at the National Bank of Egypt, “This agreement reflects the joint effort between the National Bank of Egypt and Mastercard to establish a cutting edge and secure digital services in Egypt, which is currently under study by the Central Bank of Egypt and pending final approvals. This will drive the bank’s digital transformation strategy to new heights, attracting a diverse range of customer segments particularly tech-savvy individuals and youth. This groundbreaking service will be introduced in the bank’s electronic service branches, marking a significant milestone in the development of this branch model. As the first bank in the Middle East to integrate digital humans and augmented realities into its banking operations (customer digital experience). The National Bank of Egypt is committed to expanding its technological infrastructure, continuously modernizing electronic and digital services and making substantial investments to cope with digital advancements in its products and digital services.”
Keith Jordan, Vice President of Innovation, Mastercard Ventures added: “We are excited to see our Digital Human technology lead the next wave of banking innovation in the region, creating a new generation of ultra-personalised digital experiences using artificial intelligence. Mastercard’s AI-powered innovations aim to address next-generation service challenges to better equip our partners and support their digital transformation journeys.”
Digital employees refer to a computer-generated representation of a person that can interact with users through digital interfaces. They are typically designed to mimic human appearance, behavior, and communication patterns, often utilizing advanced technologies, such as generative AI, computer graphics, natural language processing and facial recognition.
