Egypt’s Banking Sector Eyes Digitization, Says Financial Tech Expert

As the fourth annual Banking Technology Summit wrapped up its activities in Cairo, Egyptian Streets sat down with one of the summit’s top participants and a financial tech expert, Aaron Phethean. Mr. Phethean, a MarketPlace Director at banking solution developer Temenos, discussed how banking technology impacts the local banking sector and how far the banking sector is digitally engaged in comparison with global trends. Egyptian Streets: Mr. Aaron, can you tell us about the main goal of your company participation in this summit and what you are bringing to the local market? Aaron Phethean: We, as an established vendor, have already created one of the most successful co-banking systems in Egypt as we are dealing with eight local banks. The company brought all what concerns banking systems from banking software, digital engagement space and data analytics. I am here to bring all this digital innovation that pushes the boundaries of financial technology. I’ve been working in financial tech for a long time, so we want to let that tech be used as a kind of facilitator to any challenges facing the banking sector in Egypt. Banks have to cope with the digital era. It should…

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