FABMISR launches online banking channel ‘E-Connect’ for corporate clients

By Gloria Methri

First Abu Dhabi Bank Misr (FABMISR) has launched its newest corporate online banking channel, “FABMISR E-Connect,” for multinationals and large corporates. This channel provides cutting-edge banking solutions to help redefine the corporate customer experience.

FABMISR E-Connect offers an integrated banking experience. It allows companies to manage all their bank accounts with FABMISR and view accounts held with other banks in Egypt or internationally through the MT940 service. Additionally, the channel enables clients to track loan and deposit accounts and generate accurate, real-time account statements at any time, providing ultimate flexibility in financial management.

In partnership with Mindgate, a payment technology expert, FABMISR introduces a seamless digital platform that streamlines financial operations. Leveraging Mindgate’s expertise in high-scale transaction processing, the platform eliminates traditional complexities like manual payments and email communications, enabling clients to manage transactions effortlessly.

Commenting on the launch, Sherif Sabry, Head of Corporate & Commercial Banking Group in FABMISR, said, “The launch marks a transformative step that empowers our corporate clients to manage their financial resources with unparalleled efficiency and transparency. It enhances their ability to make strategic financial decisions that support business growth. This advanced channel not only meets all corporate needs but also contributes to the state’s objectives of promoting financial inclusion by enabling more businesses to benefit from modern banking solutions that align with market developments and foster an investment-friendly environment.”

In terms of transaction execution, the channel supports local and international payments in both local and foreign currencies, including scheduled transactions and standing instructions. It also facilitates bulk payment uploads, allowing large-scale operations to be executed with precision and speed. Additionally, clients can register beneficiaries in bulk, simplifying processes further.

For security, FABMISR sets a new standard with its dual-factor authentication system via a secure smart token application, eliminating the need for traditional token devices and enhancing transaction safety. Moreover, the channel allows companies to design flexible and complex authorisation matrices tailored to their operational needs, ensuring maximum control.