Export Development Bank of Egypt Transforms Traditional Banking with OpenText
OpenText announced that Export Development Bank of Egypt (EBank Egypt) has enhanced operational efficiencies and innovation using OpenText IT Operations Cloud solutions. EBank implemented OpenText Service Management Automation X (SMAX) to replace its outdated ticketing support system, providing smart self-serve capabilities and automating manual processes. The bank also leverages OpenText Operations Orchestration (OO) and OpenText Universal Discovery and CMDB to optimize IT operations and apply stricter security controls.
The implementation has transformed EBank's service management infrastructure, unlocking efficiencies and enhancing customer experience. It has also supported the bank's ESG goals by making it largely paperless. The success has led to plans for extending SMAX to non-IT departments, further enhancing accuracy and real-time tracking capabilities across the organization.
OpenText ha annunciato che la Banca di Sviluppo per l'Egitto (EBank Egypt) ha migliorato l'efficienza operativa e l'innovazione utilizzando le soluzioni OpenText IT Operations Cloud. EBank ha implementato OpenText Service Management Automation X (SMAX) per sostituire il suo obsoleto sistema di supporto ticketing, fornendo capacità di self-service intelligenti e automatizzando i processi manuali. La banca sfrutta inoltre OpenText Operations Orchestration (OO) e OpenText Universal Discovery e CMDB per ottimizzare le operazioni IT e applicare controlli di sicurezza più rigorosi.
L'implementazione ha trasformato l'infrastruttura di gestione dei servizi di EBank, sbloccando efficienze e migliorando l'esperienza del cliente. Ha anche supportato gli obiettivi ESG della banca rendendola in gran parte priva di carta. Il successo ha portato a piani per estendere SMAX ai dipartimenti non IT, migliorando ulteriormente l'accuratezza e le capacità di tracciamento in tempo reale in tutta l'organizzazione.
OpenText anunció que el Banco de Desarrollo de Egipto (EBank Egypt) ha mejorado la eficiencia operativa y la innovación utilizando las soluciones de OpenText IT Operations Cloud. EBank implementó OpenText Service Management Automation X (SMAX) para reemplazar su sistema de soporte de tickets obsoleto, proporcionando capacidades inteligentes de autoservicio y automatizando procesos manuales. El banco también utiliza OpenText Operations Orchestration (OO) y OpenText Universal Discovery y CMDB para optimizar las operaciones de TI y aplicar controles de seguridad más estrictos.
La implementación ha transformado la infraestructura de gestión de servicios de EBank, desbloqueando eficiencias y mejorando la experiencia del cliente. También ha apoyado los objetivos ESG del banco al hacerlo en gran parte sin papel. El éxito ha llevado a planes para extender SMAX a departamentos no relacionados con TI, mejorando aún más la precisión y las capacidades de seguimiento en tiempo real en toda la organización.
OpenText는 이집트 수출 개발 은행 (EBank Egypt)가 OpenText IT Operations Cloud 솔루션을 사용하여 운영 효율성과 혁신을 향상시켰다고 발표했습니다. EBank는 구식 티켓 지원 시스템을 대체하기 위해 OpenText 서비스 관리 자동화 X (SMAX)를 구현하여 스마트한 셀프 서비스 기능을 제공하고 수작업 프로세스를 자동화했습니다. 또한 은행은 OpenText Operations Orchestration (OO)와 OpenText Universal Discovery와 CMDB를 활용하여 IT 운영을 최적화하고 엄격한 보안 제어를 적용하고 있습니다.
이 구현은 EBank의 서비스 관리 인프라를 혁신하여 효율성을 높이고 고객 경험을 향상시켰습니다. 또한 은행의 ESG 목표를 지원하여 거의 종이 없는 환경을 만들었습니다. 이러한 성공은 비 IT 부서에도 SMAX를 확장하려는 계획으로 이어져, 조직 전반에 걸쳐 실시간 추적 능력과 정확성을 더욱 향상시킬 것입니다.
OpenText a annoncé que la Banque de Développement de l'Égypte (EBank Egypt) a amélioré l'efficacité opérationnelle et l'innovation grâce aux solutions OpenText IT Operations Cloud. EBank a mis en œuvre OpenText Service Management Automation X (SMAX) pour remplacer son ancien système de support de tickets, offrant des capacités de libre-service intelligentes et automatisant les processus manuels. La banque utilise également OpenText Operations Orchestration (OO) et OpenText Universal Discovery et CMDB pour optimiser ses opérations informatiques et appliquer des contrôles de sécurité plus stricts.
Cette mise en œuvre a transformé l'infrastructure de gestion des services d'EBank, débloquant des efficacités et améliorant l'expérience client. Elle a également soutenu les objectifs ESG de la banque en la rendant largement sans papier. Le succès a conduit à des projets d'extension de SMAX à des départements non informatiques, améliorant encore la précision et les capacités de suivi en temps réel à travers l'organisation.
OpenText hat angekündigt, dass die Ägyptische Exportförderbank (EBank Egypt) die Betriebseffizienz und Innovation mithilfe der OpenText IT Operations Cloud-Lösungen verbessert hat. EBank hat OpenText Service Management Automation X (SMAX) implementiert, um sein veraltetes Ticketsystem zu ersetzen, was intelligente Self-Service-Funktionen und die Automatisierung manueller Prozesse bereitstellt. Die Bank nutzt auch OpenText Operations Orchestration (OO) und OpenText Universal Discovery und CMDB, um die IT-Operationen zu optimieren und strengere Sicherheitskontrollen anzuwenden.
Die Implementierung hat die Service-Management-Infrastruktur von EBank transformiert, Effizienzen freigesetzt und das Kundenerlebnis verbessert. Außerdem hat sie die ESG-Ziele der Bank unterstützt, indem sie größtenteils papierlos wurde. Der Erfolg hat zu Plänen geführt, SMAX auf nicht-IT-Abteilungen auszuweiten, was die Genauigkeit und die Echtzeit-Tracking-Fähigkeiten in der gesamten Organisation weiter verbessert.
- EBank Egypt significantly enhanced operational efficiencies and innovation
- Implementation of SMAX provided smart self-serve capabilities and automated manual processes
- EBank became largely paperless, supporting its ESG goals
- Successful extension of SMAX to non-IT departments, enhancing accuracy and real-time tracking
- Integration of OpenText Operations Orchestration optimized IT operations and improved security controls
- None.
Insights
OpenText's collaboration with Export Development Bank of Egypt (EBank) marks a significant leap in banking technology adoption. The implementation of OpenText Service Management Automation X (SMAX) addresses critical pain points in EBank's IT infrastructure, streamlining operations and enhancing customer service.
Key technological advancements include:
- Replacement of legacy ticketing systems with a smart IT service management platform
- Introduction of private generative AI for support transformation
- Automation of manual, paper-based processes
- Implementation of real-time tracking capabilities
The adoption of OpenText Operations Orchestration (OO) and Universal Discovery and CMDB further enhances EBank's IT ecosystem, enabling seamless integration and improved security controls. This comprehensive technological overhaul positions EBank at the forefront of digital banking in Egypt, potentially setting a new standard for the region's financial sector.
However, the true test of this implementation will be in its long-term sustainability and adaptability to future technological shifts. As fintech continues to evolve rapidly, EBank's ability to leverage these new systems for continuous innovation will be important for maintaining a competitive edge.
EBank Egypt's digital transformation through OpenText's solutions is a strategic move that aligns with global banking trends. This shift is particularly significant given EBank's role as an export hub for various sectors in Egypt.
Key financial implications include:
- Potential for increased operational efficiency, likely leading to cost savings
- Enhanced ability to meet regulatory requirements, important in the heavily regulated banking sector
- Improved customer experience, which could translate to higher customer retention and acquisition rates
- Better positioning for future growth in a competitive market
The move towards a paperless organization not only supports ESG goals but may also appeal to environmentally conscious customers and investors. This could potentially improve EBank's reputation and market position.
However, it's important to note that while technological upgrades are crucial, they also come with implementation costs and potential short-term disruptions. The true financial impact will be evident in the coming quarters as the bank fully integrates these systems and realizes efficiency gains.
For OpenText, this partnership strengthens its position in the financial services sector, particularly in emerging markets. With
OpenText's IT Operations Cloud solutions streamline bank's service management infrastructure to unlock efficiencies, innovate, and enhance the customer experience
Headquartered in
EBank Egypt chose OpenText Service Management Automation X (SMAX) to replace its outdated ticketing support system. SMAX, a smart IT service management platform that optimizes costs, enhances support and transforms support with private generative AI (GenAI), provided EBank with smart self-serve capabilities and the automation of manual, paper-based, and time-consuming processes. An added bonus, with all IT financial management process documentation now in digital format, SMAX has made EBank a largely paperless organization, further supporting the organization's ESG (Environment, Social and Governance) goals. "The successful SMAX implementation gave us a transformative solution to regulatory requirements and positioned EBank for future growth and has created enhanced operational efficiency and innovation in IT infrastructure management," said Ismail Farid, Chief Technology & Information Officer, Export Development, Bank of Egypt.
Amr Samir, Head of Governance, and Ibrahim Aly Helmy, IT Service Delivery Unit Head, were both instrumental in the successful implementation of the OpenText solutions and the focus was on extending SMAX to non-IT departments, enhancing accuracy, and real-time tracking capabilities. "Introducing SMAX to our non-IT departments has been a resounding success," said Amr. "It reduced errors, enhanced accuracy, and provided real-time tracking capabilities for better financial control and HR management. We are planning similar automated workflow implementations with our administration affairs, human capital, and corporate communications departments."
Ibrahim played a key role in automating processes and integrating the system across the bank's operations. "SMAX gave us an open platform that allowed us to work with some of our key departments on customizing workflows and applications to suit our business requirements," said Ibrahim.
EBank also leverages OpenText™ Operations Orchestration (OO) to automate, integrate and orchestrate any IT process, as well as OpenText™ Universal Discovery and CMDB to discover, map, and manage configuration items across the environment. Both solutions natively integrate with SMAX through standard APIs and connectors. The OO workflows optimize performance in EBank's IT operations and apply more stringent security controls.
"Pressure is increasing for financial institutions to address evolving regulations and security threats while also staying competitive and innovative. It is critical that banking organizations invest in solutions that improve customer service operations to ensure compliance, enhance information exchanges and mitigate risk," said Muhi Majzoub, Chief Technology Product Officer, OpenText. "OpenText plays a key role in shaping product and service-based transactional business models to become personalized, intelligent, and proactive customer engagements. Today, we support the operations of seventeen of the top twenty largest financial institutions – delivering solutions to elevate user experiences and help our customers reimagine the future. This is powered by OpenText IT Operations Aviator, a private generative AI virtual agent, that enables our customers to intelligently transform service management across the organization to gain competitive advantage."
The rise of low-code development platforms is driving seamless digital experiences and re-engineered processes around customer and employee needs. Machine learning, process mining, process automation and API integrations are being increasingly implemented to simplify complexity with end-to-end automation. OpenText manages more than 30 million digital identities and processes more than
Read this new case study to learn more about how EBank Egypt is leveraging OpenText's IT Operations Cloud solutions innovate and grow.
About OpenText
OpenText™ is the leading Information Management software and services company in the world. We help organizations solve complex global problems with a comprehensive suite of Business Clouds, Business AI, and Business Technology. For more information about OpenText (NASDAQ/TSX: OTEX), please visit us at www.opentext.com.
Connect with us:
OpenText CEO Mark Barrenechea's blog
Twitter | LinkedIn
Certain statements in this press release may contain words considered forward-looking statements or information under applicable securities laws. These statements are based on OpenText's current expectations, estimates, forecasts and projections about the operating environment, economies and markets in which the company operates. These statements are subject to important assumptions, risks and uncertainties that are difficult to predict, and the actual outcome may be materially different. OpenText's assumptions, although considered reasonable by the company at the date of this press release, may prove to be inaccurate and consequently its actual results could differ materially from the expectations set out herein. For additional information with respect to risks and other factors which could occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports on Form 10-Q and other securities filings with the SEC and other securities regulators. Readers are cautioned not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Unless otherwise required by applicable securities laws, OpenText disclaims any intention or obligations to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Further, readers should note that we may announce information using our website, press releases, securities law filings, public conference calls, webcasts and the social media channels identified on the Investors section of our website (https://investors.opentext.com). Such social media channels may include the Company's or our CEO's blog, Twitter account or LinkedIn account. The information posted through such channels may be material. Accordingly, readers should monitor such channels in addition to our other forms of communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned by OpenText. One or more patents may cover this product(s). For more information, please visit https://www.opentext.com/patents.
OTEX-G
View original content to download multimedia:https://www.prnewswire.com/news-releases/export-development-bank-of-egypt-transforms-traditional-banking-with-opentext-302207014.html
SOURCE Open Text Corporation
FAQ
What solutions did Export Development Bank of Egypt implement from OpenText (OTEX)?
How did OpenText (OTEX) solutions benefit Export Development Bank of Egypt?
What departments at Export Development Bank of Egypt are using OpenText (OTEX) SMAX?
How does OpenText (OTEX) support the financial services industry?
