Network International will process Bank NXT’s ATM and debit card portfolio. The Egyptian bank will migrate the portfolio to Network’s end-to-end processing platform, extending an existing collaboration between the two companies.

According to Bank NXT, the migration will help streamline operations and strengthen security controls. In addition, the bank expects it to improve the customer experience.

Network International provides payment services across the Middle East and Africa (MEA). Meanwhile, Bank NXT offers retail and corporate banking in Egypt.

The agreement forms part of the bank’s plan to digitalise its payment services and modernise its payments infrastructure.

Bank NXT added that the migration contributes to its expansion plans by building trust with new and existing customers.

Egypt’s banking sector is undergoing rapid digital change. The Central Bank of Egypt is leading this shift as it works to build a digital economy, the bank said.

With the new platform, Bank NXT expects to improve efficiency and launch new services faster.

Network International said its processing capabilities will also help the bank scale its services.

“Our collaboration with Network International is a cornerstone of Bank NXT’s strategy to modernise our payments infrastructure and better serve our customers,”

said Tamer Seif El-Din, CEO and Managing Director at Bank NXT.

“This collaboration underscores our commitment to expanding our geographic footprint and supporting the digital evolution of banks across the MEA region,”

said Dr Reda Helal, Group Managing Director of Processing, Africa and Growth Markets at Network International.

Featured image: Edited by Fintech News UAE, based on image by barca via Magnific.