Commercial International Bank has strategically honed its digital capabilities to offer unparalleled experiences to clients
In today’s rapidly evolving digital landscape, businesses that prioritise innovation and digitalisation gain a significant edge over their competitors.
Among these forward-thinking companies stands Egypt’s Commercial International Bank (CIB), which has strategically honed its digital capabilities to offer unparalleled experiences to clients while streamlining operations.
At the core of CIB’s strategic objectives lies a commitment to minimising the reliance on physical branches and delivering comprehensive online banking services.
By leveraging innovative solutions, digital channels, data analytics and streamlined customer journeys, the bank crafts unique digital value propositions aimed at enhancing sales efficiency and managing costs.
Technological advancements
CIB has made significant strides in extending its services beyond traditional banking functions. The establishment of a robust ‘bank-as-a-service’ infrastructure allows fintechs and large corporations to seamlessly interact with CIB systems through application programming interfaces (APIs).
Additionally, initiatives such as the Bank of the Future programme and the integration of business banking segments demonstrate the bank’s commitment to embracing cutting-edge technologies and fostering digital innovation.
Through initiatives such as robotic process automation (RPA), CIB continues to automate various operational processes, reducing workload, enhancing efficiency and optimising turnaround time.
In addition, by deploying technologies such as the instant payment network (IPN), the bank facilitates real-time, interoperable transactions, further elevating the customer experience and operational efficiency. Furthermore, the move towards automation promises enhanced security by reducing human error and vulnerability to data breaches, reinforcing customer trust in the bank’s operations.
Digital channels
CIB’s digital banking channels division spearheads the development and promotion of digital services for consumer banking.
By closely monitoring and analysing the performance of digital channels and platforms, the bank enhances product outreach and strengthens its market share among customers.
The integration of RPA significantly enhances productivity, enabling the redeployment of resources towards improving customer engagement and driving innovation.
RPA integration
In 2023, CIB automated processes using RPA technology and enrolled 19 digital employees to work within the CIB ecosystem. This had a positive impact on the business, saving more time to focus on improving customer engagement, innovation, and accelerating transformation within the business activities.
Meanwhile, recognising the importance of agility in today’s dynamic market landscape, CIB has embarked on a transformation programme that aims to enhance its responsiveness to market changes, optimise time-to-market and cultivate high-performing teams.
By instilling a culture of agility and responsiveness, the bank seeks to maintain its leadership position in the Egyptian financial services industry.
Central to CIB’s digital transformation journey is a steadfast commitment to meeting customer needs and prefer-ences. The Global Transaction and Digital Banking division serves as a champion for customers, advocating for their interests throughout process redesigns and digital enhancements. By translating customer insights into precise sys-tem requirements, CIB continuously improves its overall customer experience.