For the first time in Egypt, IBM will be enabling a financial institution to provide its customers with full and extensive e-banking services. IBM Egypt has signed an agreement with Commercial International Bank (CIB) to develop the bank's infrastructure and enable it with Public Key Infrastructure (PKI) technology.
The CIB new e-banking services will be effective upon the issuance of the licenses approved by ITIDA authority of the ministry of communications and Information Technology (MCIT).
The introduction of PKI technology is an important step in developing the services Egyptian banks provide. PKI allows banks to assign a digital signature to clients, thereby opening the door to the provision of many banking services online and ensuring the highest security levels.
The bank's clients have the added convenience of having secure access to these services from any location (in Egypt or abroad) where there is an internet connection, without having to physically visit the bank.
The introduction of this new service will mean that a very wide range of services will be available to clients online. In addition to withdrawals and deposits, customers will also be able to transfer sums and pay their different bills.