E-finance Partners With IBM To Expand Cloud Computing Services in Egypt

For the proper expansion of its digital payment services, Egypt-based fintech startup, E-finance has gone into partnership with American computer manufacturer and software provider, IBM, the International Business Machines Corporation.

The information about the partnership was revealed via a press release sent to users through emails on the 9th of November. This partnership is meant to help provide E-finance clients with accessing hybrid cloud environments that help secure payments.

Via this partnership, IBM’s Power Servers will be E-finance’s leverage to upgrade from its current setup which is an infrastructure as a service, (IaaS).

There are several technology-backed, financial services that currently run on IBM servers, especially on IBM Power 10 servers. The server runs several solutions including, government POS management systems, electronic payment systems, card management for “Khales”, and others.

Meanwhile, IBM will also be providing the IBM Software Defined Storage (SDS) and the IBM FlashSystems to E-finance as a commitment to the partnership. These tools are meant to initiate data storage for significantly low storage desks and unlike the traditional modules.

These new features with IBM let e-finance onboard its customer information and workload conveniently and efficiently, thereby reducing information centres and floor space footprint to a significant percentage of 40% and reducing its energy consumption rate by 50%.

Speaking about the partnership and the activities of  IBM in the Egyptian fintech ecosystem, IBM General Manager in Egypt, Marwa Abbas, said the following. “As we accelerate into the future of fintech, we need the most advanced technology to underpin our ongoing digital transformation efforts to support our public and private sector clients and provide them with the best-in-class services. We are happy to collaborate with IBM and take pride in offering hybrid cloud services in Egypt in our continued efforts to fast-track digital transformation and deliver an industry-standard customer experience,” CEO of e-finance Hossam El Gouly commented.“As financial organizations progress on their modernization journeys, they need an approach that allows various cloud-based applications to work in concert. IBM infrastructure enables a hybrid cloud approach that offers the needed flexibility, resiliency and sustainability for e-finance to cater to their client’s demands and accelerate their ongoing digital transformation journey”