Contact and Al Safy partner to launch AI finance platform

By Vriti Gothi

Egyptian non-banking financial services provider Contact has signed a memorandum of understanding with Al Safy Group to jointly develop an integrated, technology-led financing platform, marking a push to expand embedded finance models in the local market.

The long-term partnership will initially focus on consumer finance before broadening into insurance and additional financial services. The platform is expected to use artificial intelligence to automate and streamline financing processes, reduce approval times, and embed financial products directly into customer journeys across Al Safy Group’s businesses.

The collaboration brings together Contact’s experience in consumer finance, insurance, leasing, factoring and mortgage finance with Al Safy Group’s diversified footprint across retail, technology, automotive, payments and distribution. The partners said the model will combine financing, insurance and related services within a single ecosystem, a structure that remains nascent in Egypt’s financial services sector.

The development comes as Egypt accelerates digital transformation across financial services, with regulators encouraging non-bank financial institutions to widen access to credit through technology-enabled models. Embedded finance is increasingly viewed as a way to improve inclusion by offering credit and protection products at the point of need, particularly in consumer and retail-led ecosystems.

Founded in 2001, Contact operates through a group structure that spans multiple non-banking financial services segments. The company has positioned itself as a key participant in Egypt’s digital finance transition, leveraging integrated operations to improve coordination and customer reach.

Al Safy Group operates across technology, digital services, retail, food, real estate, transportation and automotive manufacturing and distribution. Its portfolio includes brands such as Mobilaty, Switch Plus, Spinneys Egypt, Xiaomi, Tafweela, and SN Automotive, which represent Chinese automotive brands including Dongfeng, Voyah and MHERO in the local market.

The partners described the initiative as a first step toward a customer-centric financial ecosystem designed to simplify access to financing and support consumer needs across multiple sectors.