Latest news with #MT940
Qatar Tribune
3 days ago
- Business
- Qatar Tribune
Doha Bank launches API banking product for seamless corporate banking
Tribune News Network Doha Doha Bank is proud to unveil its new API banking product, tailored to streamline and enhance the banking experience for corporate clients. Doha Bank is one of the first in Qatar to launch Open Banking services for transactional and reconciliation services. In line with its commitment to innovation and digital transformation, this state-of-the-art offering features transaction processing, transactional status updates, and reconciliation reporting APIs, providing businesses with seamless connectivity to the core banking system. The API banking product enables corporate clients to securely transmit transaction data from their Enterprise Resource Planning (ERP) systems to Doha Bank's core banking system for efficient processing. Through the same integration, clients receive real-time updates on transaction statuses, ensuring they remain informed and in control of their operations. Additionally, the solution automates reconciliation processes by delivering detailed reports such as MT940 directly to ERP systems, reducing manual intervention and improving accuracy. Commenting on the launch, Doha Bank Group Chief Executive Officer Sheikh Abdulrahman bin Fahad bin Faisal Al Thani said, 'The introduction of our API Banking product represents a pivotal milestone in Doha Bank's digitalisation journey. This innovative solution empowers our corporate clients with secure, efficient, and always-on access to our banking services, reinforcing our position as a leader in financial technology and corporate banking.' Doha Bank's API Banking product offers businesses an advanced, end-to-end encrypted solution that ensures security, efficiency, and continuous connectivity. It is designed to enhance corporate banking operations and aligns with the Bank's broader mission to leverage digital innovation to elevate client experiences while supporting Qatar's vision for technological advancement.
Zawya
10-03-2025
- Business
- Zawya
FABMISR launches E-Connect for corporate clients
First Abu Dhabi Bank Misr (FABMISR) has launched its newest corporate online banking channel, FABMISR E-Connect, for multinationals and large corporates, according to an emailed press release. This channel supports the bank's commitment to providing advanced banking solutions that redefine the corporate customer experience. E-Connect offers an integrated banking experience, enabling companies to monitor and manage all their bank accounts with FABMISR, as well as view accounts held with other lenders across Egypt or globally through the MT940 service. The channel also allows clients to track loan and deposit accounts and generate accurate, real-time account statements at any time, providing ultimate flexibility in financial management. As for conducting transactions, the channel supports local and international payments in both local and foreign currencies, including scheduled transactions and standing instructions. It also secures bulk payment uploads, supporting large-scale operations with precision and speed. Sherif Sabry, Head of Corporate and Commercial Banking Group in FABMISR, said: 'The launch of the FABMISR E-Connect online banking channel marks a transformative step that empowers our corporate clients to manage their financial resources with unparalleled efficiency and transparency.' He added: 'This advanced channel not only meets all corporate needs but also contributes to the state's objectives of promoting financial inclusion by enabling more businesses to benefit from modern banking solutions that align with market developments and foster an investment-friendly environment.' © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
Zawya
09-03-2025
- Business
- Zawya
FABMISR launches "E-Connect": Its latest online banking channel for corporate clients
Cairo – First Abu Dhabi Bank Misr (FABMISR), one of the largest banks operating in Egypt, has announced the launch of its newest corporate online banking channel, "FABMISR E-Connect,' designed specifically for multinationals and large corporates. This innovative channel reflects the bank's commitment to providing cutting-edge banking solutions that redefine the corporate customer experience. FABMISR E-Connect online banking channel offers an integrated banking experience, allowing companies to monitor and manage all their bank accounts with FABMISR, as well as view accounts held with other banks within Egypt or internationally through the MT940 service. Additionally, the channel enables clients to track loan and deposit accounts and generate accurate, real-time account statements at any time, providing ultimate flexibility in financial management. In partnership with Mindgate, a global leader in real-time payment technology, FABMISR introduces a seamless digital platform that streamlines financial operations. Leveraging Mindgate's proven expertise in high-scale transaction processing, the platform eliminates traditional complexities like manual payments and email communications, enabling clients to manage transactions effortlessly. Commenting on the launch, Sherif Sabry, Head of Corporate & Commercial Banking Group in FABMISR, said: 'The launch of the FABMISR E-Connect online banking channel marks a transformative step that empowers our corporate clients to manage their financial resources with unparalleled efficiency and transparency. It enhances their ability to make strategic financial decisions that support business growth. This advanced channel not only meets all corporate needs but also contributes to the state's objectives of promoting financial inclusion by enabling more businesses to benefit from modern banking solutions that align with market developments and foster an investment-friendly environment.' In terms of transaction execution, the channel supports local and international payments in both local and foreign currencies, including scheduled transactions and standing instructions. It also facilitates bulk payment uploads, allowing large-scale operations to be executed with precision and speed. Additionally, clients can register beneficiaries in bulk, simplifying processes further. For security, FABMISR sets a new standard with its dual-factor authentication system via a secure smart token application, eliminating the need for traditional token devices and enhancing transaction safety. Moreover, the channel allows companies to design flexible and complex authorization matrices tailored to their operational needs, ensuring maximum control. It is worth noting that the launch of FABMISR E-Connect represents a new milestone in FABMISR's journey toward achieving full digital transformation. This achievement supports the bank's strategy to provide innovative solutions that enhance the efficiency of corporate banking operations, solidifying its position as a leader in delivering digital banking services in the Egyptian market. About FABMISR: FABMISR, a subsidiary of the First Abu Dhabi Bank Group (FAB), is one of the largest foreign banks operating in Egypt. FABMISR's local network operates through 72 branches, where it provides leading banking products and services that cater to all customer segments; along with achieving the highest value for its stakeholders and employees. Moreover, the bank offers a personalized banking experience to meet the various expectations of its customers from large organizations, SMEs and consumers whilst utilizing its global experience to support stakeholders, entrepreneurs and the local economy. FAB is one of the world's largest and safest financial institutions with an international network spanning over five continents. The bank also offers global relationships, extensive experience, and financial strength to support local, regional, and international companies seeking to manage their businesses at home and abroad. FAB is rated Aa3, AA- and AA- by Moody's, Standard & Poor's (S&P, and Fitch, respectively), making it the most robust aggregate rating of banks in the Middle East and North Africa region. FAB is also a regional leader in sustainability and is part of the MSCI ESG Leaders Index and FTSE4Good EM. For more information on FABMISR, please visit
