The size of non-cash transactions in
He added that non-cash transactions have reached "90% in
Ajamy explained on the sidelines of the People and
Ajamy stressed the significance of educating clients on the importance of services offered by banks and eliminating a lack of confidence in some banking products. He pointed to the importance of re-training staff and increasing their skills in engaging with customers.
Chief Executive of Retail Banking at the
Rahmy added that the shift to providing services online as well as the switch to digital banking has become more widespread, with 30 million people in
He predicted that in 10 years, the number of bank branches will decrease and be replaced with more technological systems and the number of ATM cards will rise.
Hegazy noted that banks have recently not only focused on providing services and competing with each other to provide them, but also that the style of service provision has become important as well.
He said that the bank began to develop a system of alternatives to the bank's branch for providing services, in addition to an interest in developing branches.
Hegazy disagreed with Rahmy's assertion that
He pointed to the need to provide services for paying certain bills online through nameless cards, the Credit Card Bill, sold in retail shops. University expenses can be paid through those cards.
He pointed to the need to look toward an electronic payment system and to activate mobile banking services supported by the
"The banking sector needs to provide products that are 'detailed' in accordance with customer needs, noting that services in
He added that banks must educate citizens on what banks do and the services available. He noted that the
He explained that the importance of the retail sector is in creating demand for Egyptian products as well as integrating the informal and formal sectors, which will lead to returns for the Egyptian economy.
Developing alternative channels such as ATMs and providing services via the internet must become as a point of focus, as well as making interactions between banks and their customers transparent.
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