Transformation Overview
Faisal Islamic Bank of Egypt (FIBE), a flagship Islamic financial institution with over 2 million customer accounts and $4.8 billion in assets, successfully accelerated its retail banking transformation. To remain competitive in a rapidly evolving digital economy, the bank replaced its decade-old legacy system with the eMACH.ai Digital Engagement Platform (DEP).
This transition focused on delivering an intuitive, modern, and personalized digital experience aligned with a forward-looking Islamic banking philosophy. The implementation included 39 user journeys across accounts, deposits, transfers, and mutual funds, integrated with 22 applications, including core banking, third-party systems, and fraud management.
Business Impact
Within just two weeks of go-live, the transition delivered rapid and tangible benefits:
- Active User Base: 58,000 customers are actively using the platform
- High Usability: Achieved an average of 16,000 daily logins, reflecting high confidence in the new system
- Real-time Processing: 48,000 financial transactions were processed in real time
- Self-Service Demand: 250,000 inquiry transactions were recorded, highlighting the strong demand for digital self-service
- Sustainable Growth: Improved operational efficiency while minimizing resource usage, supporting the bank’s goal of sustainable Islamic banking
