NBK-Egypt launches corporate banking solution with MDSap

By Leandra Monteiro

The National Bank of Kuwait (NBK-Egypt) has partnered with MDSap to launch a SAP corporate banking solution in order to digitalise corporate business online operations and build lasting customer relationships, the bank announced.

“Powered by SAP Omnichannel Digital Business, an extendable distinct banking platform, NBK-Egypt enables small business and large companies to check balances, make online payments, transfer money between accounts, and have better cash positioning and forecasting, along with instant trade facilities and approvals,” said Amr El-Alfy, Chief Business Officer of NBK-Egypt. “Our ultimate goal is helping businesses to digitally manage cash flow, as part of their day-to-day operation”.

He added, “Aligning with NBK-Egypt’s strategy to invest in IT Solutions providing cutting-edge services to the customers, we joined forces with MDSap, leveraging on its witnessed experience in implementing SAP Omnichannel Banking. Also, MDSap has a proven record with NBK Group, implementing the solution, delivering great services support and providing customers a unified view of their accounts.”

Tony Achkar, Group Managing Director & EVP, MDSap said, “MDSap took upon itself paving the way, in partnership with NBK Egypt, to successfully implement the first drop of corporate digital services, leveraging SAP Omnichannel Digital Business platform capabilities to serve the bank’s customers. Our service empowers NBK-Egypt to intelligently engage with customers, delivering its innovative products, services, and offers across all channels.”

He added, “MDSap, a gold partner of SAP, is known for its solid mix blend in consultancy and services implementation of various SAP solution. The company has an exceptional SAP solution skills and knowledge in different industries, positioning it in the lead of technology sector for over 25 years.”

The NBK was founded in 1952 as the first indigenous bank and the first joint-stock company in Kuwait and the Gulf Region. It claims to be the largest financial institution in Kuwait. MDSap, an expert in SAP’s omnichannel banking solutions, is known for its wide experience in banking consultancy and implementation of various SAP solutions.

In 2007, the NBK acquired Al-Watany Bank of Egypt (AWB) to start operations in Egypt for the first time, which marks a new milestone in the regional expansion of NBK.