OpenText's IT Operations Cloud solutions
streamline bank's service management infrastructure to unlock
efficiencies, innovate, and enhance the customer experience
WATERLOO, ON, July 25,
2024 /PRNewswire/
-- OpenText™ (NASDAQ: OTEX), (TSX: OTEX), the
information company, today announced that Export Development Bank
of Egypt (EBank Egypt) has
significantly enhanced operational efficiencies and innovation by
leveraging OpenText IT Operations Cloud solutions. By using
OpenText, EBank accelerated its digital transformation, aligning IT
infrastructure and business operations with its customer-centric
service management strategy.
Headquartered in Cairo, Egypt,
the bank is a pivotal export hub to international markets for the
agricultural, industrial and commercial sectors, while supporting
small and medium size enterprises, individuals and financial
institutions. To remain competitive in the fast-evolving financial
services industry, the bank needed to modernize its traditional IT
infrastructure, which had become complex to maintain, difficult to
upgrade, and lacked reporting capabilities.
EBank Egypt chose OpenText Service Management Automation X
(SMAX) to replace its outdated ticketing support system. SMAX, a
smart IT service management platform that optimizes costs, enhances
support and transforms support with private generative AI (GenAI),
provided EBank with smart self-serve capabilities and the
automation of manual, paper-based, and time-consuming processes. An
added bonus, with all IT financial management process documentation
now in digital format, SMAX has made EBank a largely paperless
organization, further supporting the organization's ESG
(Environment, Social and Governance) goals. "The successful SMAX
implementation gave us a transformative solution to regulatory
requirements and positioned EBank for future growth and has created
enhanced operational efficiency and innovation in IT infrastructure
management," said Ismail Farid,
Chief Technology & Information Officer, Export Development,
Bank of Egypt.
Amr Samir, Head of Governance, and Ibrahim Aly Helmy, IT Service Delivery Unit
Head, were both instrumental in the successful implementation of
the OpenText solutions and the focus was on extending SMAX to
non-IT departments, enhancing accuracy, and real-time tracking
capabilities. "Introducing SMAX to our non-IT departments has been
a resounding success," said Amr. "It reduced errors, enhanced
accuracy, and provided real-time tracking capabilities for better
financial control and HR management. We are planning similar
automated workflow implementations with our administration affairs,
human capital, and corporate communications departments."
Ibrahim played a key role in automating processes and
integrating the system across the bank's operations. "SMAX gave us
an open platform that allowed us to work with some of our key
departments on customizing workflows and applications to suit our
business requirements," said Ibrahim.
EBank also leverages OpenText™ Operations Orchestration (OO) to
automate, integrate and orchestrate any IT process, as well as
OpenText™ Universal Discovery and CMDB to discover, map, and manage
configuration items across the environment. Both solutions natively
integrate with SMAX through standard APIs and connectors. The OO
workflows optimize performance in EBank's IT operations and apply
more stringent security controls.
"Pressure is increasing for financial institutions to address
evolving regulations and security threats while also staying
competitive and innovative. It is critical that banking
organizations invest in solutions that improve customer service
operations to ensure compliance, enhance information exchanges and
mitigate risk," said Muhi Majzoub, Chief Technology Product
Officer, OpenText. "OpenText plays a key role in shaping product
and service-based transactional business models to become
personalized, intelligent, and proactive customer engagements.
Today, we support the operations of seventeen of the top twenty
largest financial institutions – delivering solutions to elevate
user experiences and help our customers reimagine the future. This
is powered by OpenText IT Operations Aviator, a private generative
AI virtual agent, that enables our customers to intelligently
transform service management across the organization to gain
competitive advantage."
The rise of low-code development platforms is driving seamless
digital experiences and re-engineered processes around customer and
employee needs. Machine learning, process mining, process
automation and API integrations are being increasingly implemented
to simplify complexity with end-to-end automation. OpenText manages
more than 30 million digital identities and processes more than
$9 trillion (about $28,000 per person in the U.S.) in network
commerce across 26 billion transactions. OpenText's reliable cloud
platform supports more than 3,000 customers by translating over 2.5
million inbound/outbound global payment transactions a month with
OpenText™ Business Network. OpenText empowers nine of the top 10
Fortune 500 banks to foster better customer relationships with
OpenText Customer Communications Management (CCM) solutions.
Read this new case study to learn more about how EBank Egypt is
leveraging OpenText's IT Operations Cloud solutions innovate and
grow.
About OpenText
OpenText™ is the leading Information Management software and
services company in the world. We help organizations solve complex
global problems with a comprehensive suite of Business Clouds,
Business AI, and Business Technology. For more information about
OpenText (NASDAQ/TSX: OTEX), please visit us
at www.opentext.com.
Connect with us:
OpenText CEO Mark Barrenechea's
blog
Twitter | LinkedIn
Certain statements in this press release may contain words
considered forward-looking statements or information under
applicable securities laws. These statements are based on
OpenText's current expectations, estimates, forecasts and
projections about the operating environment, economies and markets
in which the company operates. These statements are subject to
important assumptions, risks and uncertainties that are difficult
to predict, and the actual outcome may be materially different.
OpenText's assumptions, although considered reasonable by the
company at the date of this press release, may prove to be
inaccurate and consequently its actual results could differ
materially from the expectations set out herein. For additional
information with respect to risks and other factors which could
occur, see OpenText's Annual Report on Form 10-K, Quarterly Reports
on Form 10-Q and other securities filings with the SEC and other
securities regulators. Readers are cautioned not to place undue
reliance upon any such forward-looking statements, which speak only
as of the date made. Unless otherwise required by applicable
securities laws, OpenText disclaims any intention or obligations to
update or revise any forward-looking statements, whether as a
result of new information, future events or otherwise. Further,
readers should note that we may announce information using our
website, press releases, securities law filings, public conference
calls, webcasts and the social media channels identified on the
Investors section of our website (https://investors.opentext.com).
Such social media channels may include the Company's or our CEO's
blog, Twitter account or LinkedIn account. The information posted
through such channels may be material. Accordingly, readers should
monitor such channels in addition to our other forms of
communication.
Copyright © 2024 OpenText. All Rights Reserved. Trademarks owned
by OpenText. One or more patents may cover this product(s). For
more information, please
visit https://www.opentext.com/patents.
OTEX-G
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SOURCE Open Text Corporation
