CBE-backed Banknbox Expands Fintech Partnerships to 8 Countries in 2024

– Banknbox Egypt expands partnerships with banks and fintech firms across eight countries in the first half of 2024, aiming to solidify its position as a regional financial services hub, leveraging Egypt’s growing fintech sector.

– Supported by the Central Bank of Egypt (CBE), Banknbox collaborates with leading companies and financial institutions in diverse markets such as Iraq, Libya, Bangladesh, Moldova, Qatar, and several African countries, offering a range of services through its digital platform in Egypt.

– Bassem Mahmoud, Chairperson and Managing Director of Banknbox, highlights the importance of meticulous market analysis and tailored service offerings in global expansion, emphasizing partnerships with local agents and international institutions for successful service delivery in new markets.

Banknbox Egypt, a provider of digital services and payment technology, has forged strategic partnerships with banks and fintech firms across eight countries in the first half of 2024, according to media reports.  

This expansion aims to cement Banknbox’s position as a regional hub for financial and banking services, capitalizing on Egypt’s burgeoning fintech sector.

Supported by the Central Bank of Egypt (CBE), Banknbox has collaborated with leading companies and financial institutions in various markets, including Iraq, Libya, Bangladesh, Moldova, Qatar, and multiple African countries.

These alliances are geared towards offering a wide range of services through Banknbox’s digital platform in Egypt.

Bassem Mahmoud, Chairperson and Managing Director of Banknbox, acknowledged the complexities of global expansion, stressing the importance of thorough market analysis and customized service offerings.

He highlighted the significance of partnerships with local agents and international institutions in ensuring the successful delivery of integrated services in each new market. Mahmoud underscored Egypt’s recent regulatory advancements for fintech companies, which align with Banknbox’s vision of transforming Egypt into a regional hub.

He emphasized Banknbox’s substantial investments in developing innovative services, adhering to international security standards, and establishing exclusive partnerships with global entities to provide comprehensive technical support and tailored solutions.

While prioritizing regional expansion, Banknbox recognizes Egypt as a pivotal market due to its rapid growth and the innovative capabilities of its banks and fintech firms.

Recent partnerships with local entities have facilitated the provision of enhanced integrated services, including advanced card issuance and management solutions that meet international security standards.