In reference to the rapid and continuous evolution in financial and banking sectors, as well as the Egyptian Government’s and Central Bank of Egypt’s directives to promote digital transformation and cashless society depending on robust digital solutions, in addition to the Financial Inclusion Initiative, EBank established Cash Management department in 2019 as a first phase, and further expanded by establishing the Transaction Banking Sector mid of 2021 supported by a state-of-art Corporate Internet Banking platform.
Sector advantages:
- Develop new and diversified digital and electronic products and services for Corporate Clients.
- Uniquely positioning EBank as a Market Leader.
- Create new revenue/income streams.
- Reduce cost of fund.
- Embedding a benchmark customer service through differentiated service propositions.
- Introduce automation concept to lower operating costs and increase efficiency.
Transaction banking sector comprises of two departments, Cash Management and Marginal Trading:
1. Cash Management Department:
The department is responsible for offering products and services to facilitate businesses’ daily operations by streamlining transactions processing cycle and re-design receivables and payables processes, manage working capital and investment efficiency via advanced E-channel and information services mechanisms, in addition to leading automation and digital transformation of corporate clients.
Cash Management offers different types of products and services which are:
- Internet Banking:
A digital channel which allows corporate customers to make their bank’s operations remotely.
- CPS (Corporate Payment Service):
A secured link which allows corporate customers to settle all their governmental payments without visiting the bank’s branch.
- A4 Customized Cheques:
An automated solution for issuing personalized cheques with the company’s logo alongside with bank’s logo.
- Escrow Account:
This account is responsible for managing cash flow processes and distributions between the two Escrow parties as per contractual agreement between them.
- Corpay (Direct Credit / Direct Debit):
Another electronic portal which allows corporate customers to transfer and collect money.
- Cash and Cheques Pick-up:
A service provided to corporate customers to transfer the cash/cheques from customer’s side to be delivered to bank in a secured way through a well trusted cash pick up companies.
- Cash Delivery:
A service provided to corporate customers to deliver the cash from the bank to their place directly, through a well trusted cash delivery company.
- Current Accounts:
Current account with Special features for corporate customers.
In addition to other normal products.
2. Marginal Trading Department:
The department’s main objective is to create new revenue stream and meet clients’ expectations by offering new products/services.
Marginal Trading Service falls under the umbrella of assets related products aiming to increase investor’s purchasing power by leveraging into larger positions than their cash positions would allow. This takes place by entering into a short-term facility/loan agreement with the bank, guaranteed by a portfolio of pre-determined stocks and/or government bonds.
List of shares accepted by our bank
EBank provides all central custodian services to its individuals clients, institutions, as following:
- Safekeeping services for investors in the stock market (shares \ Treasury bills \ treasury bonds).
- Margin trading finance for clients.
- EGX unified code issuance\ update.
- Depositing securities in the central depository system.
- Collecting coupons of securities.
- Issuing certificates of attendance of the general assemblies meetings.
- Clearing banks settlements for brokerage companies.
Emails: CustodyDept@Ebank.com.eg