Banknbox Egypt, SWFT partner to offer e-payment solutions for SMEs

Banknbox Egypt, a leading digital services and payment technology company, has announced its strategic partnership and collaboration with SWFT, a banking and finance platform for small and medium-sized enterprises (SMEs). The partnership aims to provide SMEs with a comprehensive package of innovative solutions and electronic payment services, redefining the landscape of financial services for this sector.

The strategic cooperation between the two companies aligns with the vision of the Egyptian Central Bank for digital transformation and financial inclusion “Egypt 2030” and reducing reliance on cash. It also represents significant progress in utilizing the latest financial technology systems to provide SMEs with seamless banking solutions and smart cash flow management.

Through SWFT, SMEs can easily open bank accounts and access financial services through a smooth and efficient registration process. SWFT also enables secure and convenient financial transfers, allowing SMEs to conduct transactions with ease and confidence. Moreover, SMEs can benefit from prepaid card issuance options for companies, giving them greater control over expenses and providing employees with convenient payment options.

Banknbox Egypt plays a vital role in providing an advanced service for card issuance and management in an extremely secure environment, compliant with the highest security standards for international networks.

Ahmed Bayoumi, CEO of SWFT, commented on this collaboration, saying: “We are pleased to collaborate with Banknbox Egypt, as this partnership is a significant step towards reshaping banking services for SMEs. With SWFT’s expertise in banking and finance services and Banknbox’s efficiency in card issuance and processing, we are ready to provide innovative services to meet the needs of our customers. Our collaboration sets a new standard for excellence in financial technology.”

SWFT offers SMEs a range of innovative features designed to meet their needs and challenges. From simplifying account opening processes to enabling seamless financial transfers and providing easier, faster, and more accurate access to financing through Swift Score, which works to improve the credit ratings of companies and customers, SWFT enables SMEs to grow in today’s business environment. By leveraging technology and data-driven insights, SWFT helps SMEs improve their financial operations, increase efficiency, and grow.

Bassem Mahmoud, Chairperson of the Board and Managing Director of Banknbox Egypt, expressed his delight at cooperating with SWFT, saying: “We believe that by uniting efforts with SWFT, we can revolutionize the way SMEs manage their finances. It’s a new opportunity for Banknbox Egypt to provide more services to the Egyptian market, relying on its regional platform in Egypt to serve companies and banks in the region. This strategic cooperation complements the company’s successes in achieving growth rates in the Egyptian market.”

Banknbox offers a package of digital services developed internally by the company to achieve full flexibility in the services provided, ensuring their compatibility with customer requirements and delivering them quickly and at a lower cost. These include integrated digital banking services, such as mobile banking applications, internet banking, electronic wallets, encoding services, electronic know-your-customer services, artificial intelligence technology, and other services such as card issuance and processing of all types, whether credit cards, direct debit cards, prepaid cards, and instant card diagnostics centrally or through branches, in addition to fraud prevention systems using artificial intelligence and securing online transactions.