CAIRO, EGYPT: EFG Hermes, the leading financial services corporation in Frontier Emerging Markets (FEM), and Microsoft announced a strategic cloud partnership aimed at accelerating the firm’s digital transformation and shaping the future of innovation in the financial services industry, a statement said.
The companies will strike a unique collaboration to unlock the opportunities that Microsoft’s cloud has to offer, with a specific view toward the challenges of financial services. The partnership will enable EFG Hermes to accelerate the modernization of its IT environment to enhance customer, employee and developer experience.
As part of the strategic partnership, the companies will focus on accelerating a secure and robust digital transformation roadmap aligned with EFG Hermes’ digital strategy.
The transformation will result in a modern, more flexible and scalable IT environment for EFG Hermes, as well as improved employee experience; innovative applications and services with higher developer effectiveness and most importantly enhanced customer engagement with better service, insights and connectivity.
“The partnership with Microsoft comes at a time where we are looking to further cement our commitment to sustainability as we invest more in cloud-based solutions that help us achieve cost-efficiency, therefore enhancing scalability as part of our drive to digital transformation. This collaboration will also enable us to ensure increased competitiveness, business resilience and innovation, whether it is to expand global reach, reduce time to market, create agility, lead with customer-centricity and make data-informed decisions,” said Mohamed Wakeel, Group Chief Operating Officer at EFG Hermes.
“The financial services industry is undergoing tremendous transformation and technology is increasingly providing a competitive advantage by improving business agility, optimizing costs and driving efficiency. At EFG Hermes, we aspire to build the financial services corporation of the future by harnessing the full potential of cloud technology” said Mohamed Sayed Fathy, Chief Information Officer at EFG Hermes.
“Increasing the agility and scalability of our technology infrastructure is crucial to drive innovation and achieve differentiation that spurs sustainable growth. Through our partnership with Microsoft, we will be able to establish a secure platform that will fuel our cloud transformation strategy, enabling us to deliver differentiated customer experiences, optimize operations, enhance employee productivity and support our portfolio of innovative fintech applications”.
“Digital transformation is no longer just a competitive edge, but critical for business resilience. At Microsoft, we are empowering digital transformation and innovation in Egypt, by focusing on those industries that are vital to its economic growth. We thank EFG Hermes for their trust in our technology and for partnering with us to reimagine their future in an ever-changing landscape. We are committed to providing EFG Hermes with a hyperscale, seamless and modern digital platform that future proofs their business as they continue to manage unprecedented risks and grow rapidly with innovative business models,” said Mirna Arif, Country Manager at Microsoft Egypt.
Since its foundation in 1984, EFG Hermes has grown to become the leading financial services corporation in Frontier Emerging Markets (FEM), spanning thirteen countries over four continents covering 75 of the most compelling global markets. The organization seeks every opportunity to innovate and elevate its competitive edge.