In the dynamic landscape of finance, open banking systems are poised for significant growth, ushering in a new era of innovation across various financial sectors. From startups to established banks, open banking presents opportunities to expand service offerings, promote financial inclusion, and stimulate market expansion. Exploring Open Banking Open banking is a system where banks…
In the busy world of financial technology (fintech), traditional banks are facing tough competition from small and agile fintech startups, especially in specific areas. This change shows the rise of new and creative products made for certain groups like gig workers and other markets that are often overlooked, shaking things up in banking. Meeting Special…
Remittances, which are defined as financial transfers, serve as a powerful manifestation of compassion and solidarity from the Egyptian diaspora. These remittances, typically sent by Egyptians working abroad to support their families and communities back home, play a significant role in sustaining livelihoods and fostering economic resilience in Egypt. In this article, we delve into…
Introduction Financial remittances are a lifeline for millions of families worldwide, providing crucial support and contributing to economic development. In today’s interconnected world, these funds play a significant role in many countries’ economies, facilitating cross-border transactions and fostering growth. However, the relationship between financial remittances and the prosperity rate, a measure of overall economic well-being, is…
It is imperative for Egypt to identify and leverage its export potential across various industries. By focusing on industries with competitive advantages and export potential, Egypt can diversify its economy, create jobs, and generate much-needed foreign exchange revenue. Food Processing and Agricultural Product Export One promising avenue for economic recovery is the food processing and export…
In the dynamic realm of finance, Artificial Intelligence (AI) emerges as a transformative force, reshaping how fintech products and services are conceived, developed, and delivered. By harnessing AI capabilities, companies are ushering in a new era of innovation, marked by personalized experiences, streamlined operations, and robust revenue growth. Unlocking AI’s Potential Artificial Intelligence, encompassing machine…
Imagine you’re living abroad, far from the warmth of your family in Egypt. Each month, you log into your bank’s app, navigate the secure transaction process, and send a portion of your earnings back home. While this might seem like a routine money transfer, it’s much more than just a financial transaction. It’s an emotional lifeline, a tangible way…
Introduction Imagine your customer sitting in a cozy café in Rome, sipping on his favorite coffee. He opens an app to check his latest remittance to his family. A series of colorful charts and graphs greet Him, telling a story far more powerful than numbers alone. These visualizations not only show the EGP amounts transferred but also…
Imagine you’re at the helm of a burgeoning international company, navigating through the tumultuous waters of global finance. One wrong move, and you might find yourself caught in a whirlpool of legal issues and hefty fines. Understanding and complying with international payments, anti-money laundering (AML), and know-your-customer (KYC) regulations isn’t just about avoiding penalties—it’s about safeguarding your company’s integrity and…
On July 18th, 2024, a seemingly innocuous configuration change within Microsoft Azure, the cloud computing giant’s platform, triggered a domino effect that sent shockwaves through the global financial system. What began as a minor glitch snowballed into a near 19-hour outage, crippling vital services for businesses and individuals worldwide, particularly in the rapidly evolving realm of…