Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, announced that it has selected IBM Instana®, IBM Turbonomic®, and IBM Cloud Pak® solutions, in collaboration with Inspire for Solutions Development, to accelerate its digital banking transformation. By implementing these technologies, the bank is building a strong foundation for real-time observability, automated resource optimization, and advanced integration. This integrated approach is designed to improve resilience, minimize downtime, optimize IT resources, and deliver faster, more reliable digital banking experiences for its customers.
As Egypt’s financial sector rapidly shifts toward more innovative, more agile digital banking models, Bank NXT is modernizing its core technology environment to overcome legacy limitations and build a scalable, adaptive digital foundation. This transformation aims to enhance operational efficiency, accelerate service delivery, and strengthen the bank’s ability to collaborate seamlessly with fintech partners, enabling secure and innovative customer experiences.
To improve application performance and resource efficiency, Bank NXT deployed IBM Instana® for real-time observability across its digital banking applications, enabling proactive monitoring and faster issue resolution, thereby enhancing customer experiences. In parallel, IBM Turbonomic® delivers automated, intelligent resource optimization across private hybrid cloud environments, helping the bank maximize IT utilization, reduce operational costs, and maintain consistent performance at scale.
To further drive operational excellence, Bank NXT implemented IBM Cloud Pak® for Integration and IBM Cloud Pak® for Business Automation, running on Red Hat® OpenShift®, to create a unified digital platform that streamlines operations, reduces system complexity, and supports faster development and deployment of new services. This shift has enabled more efficient service delivery through a continuous delivery model, improved cost optimization, and increased platform reliability.
“Our collaboration with IBM and Inspire for Solutions Development is a crucial part of the bank’s transformation strategy. By adopting the DevOps model and improving our business automation capabilities, we have enhanced the flexibility of our technology infrastructure. This advancement prepares us to integrate with fintech companies through an API-driven ecosystem, fostering a more open and innovative environment. Tamer Seif, Chief Executive Officer and Managing Director of Bank NXT, stated, “This progress strengthens the reliability of the bank’s digital platform and boosts operational efficiency. It accelerates service delivery and expands the range of digital solutions we offer, ultimately leading to a better customer experience and faster, more responsive service.”
“IBM is proud to support Bank NXT in building a high-performance, cloud-native digital banking environment powered by real-time observability, intelligent resource optimization, integration, and automation,” said Marwa Abbas, General Manager and Technology Leader, IBM Northeast Africa; “With IBM Instana and IBM Turbonomic at the core of this transformation, Bank NXT gains the visibility and control needed to improve resilience, optimize performance at scale, and drive innovation. This collaboration also reflects the strength of our strategic partner ecosystem, with Inspire playing a central role in successful execution.”
“As a proud IBM Platinum Business Partner, our collaboration with Bank NXT goes beyond a technology implementation; it is a shared journey toward full digital transformation,” said Kamal Haddad, Founder and Chief Executive Officer, Inspire for Solutions Development. “Over the past six months, Bank NXT’s teams have developed strong technical and operational capabilities through our close collaboration, and the results have been remarkable. The progress achieved so far sets the stage for even greater milestones ahead.”
A core component of Bank NXT’s modernization initiative focuses on capability building to ensure long-term sustainability. Bank NXT teams are being upskilled through structured workshops and online training programs covering observability, integration, automation, and DevOps practices. This approach strengthens in-house expertise and supports the bank’s roadmap to expand digital services across its business lines continuously.
Through this collaboration, Inspire for Solutions Development played a key role in establishing the digital foundation that enabled Bank NXT’s transformation from observability and resource optimization to integration, automation implementation, and delivery frameworks. The engagement included comprehensive knowledge transfer to empower Bank NXT’s teams to operate and evolve their digital ecosystem independently.
About Bank
Bank NXT (formerly known as aiBANK) was established in 1974 as an investment and business bank and commenced its activities under the supervision of the Central Bank of Egypt in 1978, with a capital base of USD 40 million.
The bank has witnessed continuous capital growth, reaching EGP 1.987 billion in 2020. Moreover, as per the decisions of the general assembly held on October 10, 2021, and after the completion of the Bank’s acquisition deal, the Bank received approval to increase its paid-up capital to EGP 5,000,000,003 and adjusted its ownership structure accordingly to accommodate both new and existing investors, as per the following:
• EFG Holding S.A.E – (51%)
• Egypt’s Financial Services and Digital Transformation Sub-Fund – (25%)
• National Investment Bank – (24%)
Additionally, based on the General Assembly decision dated March 24, 2024, a further capital increase was approved, bringing the total to EGP 5,400,000,006.
The Bank offers banking services for individuals through its broad spectrum of retail banking products, as well as corporate banking services for businesses and institutions, including loan syndication for companies and institutions seeking to finance large national projects that support the Bank and the economy. The Bank is keen to support the growth of small and medium-sized enterprises, which play a crucial role in Egypt’s overall economic and social development, and to provide investment and treasury services.
The Bank offers its services to its customers through its (36) branches nationwide. It is constantly working on expanding its geographical presence by opening new branches. In addition, the bank is expanding its ATM network to ensure that it covers all key locations. The Bank is also committed to satisfying its customers by providing unique and competitive services and investing in its tech systems and human capital to improve the overall level of its banking services.
Learn more about us at www.banknxteg.com
About EFG Holding
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a legacy of more than 40 years of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) – the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a provider of innovative and integrated financial solutions for micro and small business owners and entrepreneurs, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, and EFG Finance SMEs, which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
Associate Director of Communications of EFG
Note on Forward-Looking Statements
In this press release, EFG Holding may make forward-looking statements, including, for example, statements about management’s expectations, strategic objectives, growth opportunities, and business prospects. These forward-looking statements are not historical facts but instead represent only EFG Holding’s belief regarding future events, many of which, by their nature, are inherently uncertain and are beyond management’s control and include, among others, financial market volatility; actions and initiatives taken by current and potential competitors; general economic conditions and the effect of current, pending, and future legislation, regulations and regulatory actions. Accordingly, the readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the date on which they are made.
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs, and gain the competitive edge in their industries. More than 4,000 government and corporate entities in critical infrastructure areas such as financial services, telecommunications, and healthcare rely on IBM’s hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM’s breakthrough innovations in AI, quantum computing, industry-specific cloud solutions, and consulting deliver open, flexible options to our clients. All of this is backed by IBM’s long-standing commitment to trust, transparency, responsibility, inclusivity, and service.
Visit www.ibm.com for more information.
About Inspire for Solutions Development
Inspire for Solutions Development, a leading MENA IT consulting firm with 470+ specialists, is rapidly scaling enterprise digital solutions, modernizing client operations, and ensuring measurable business value. From AI to cloud integration, to empower organizations across six key regional markets (Egypt, Jordan, KSA, Qatar, Oman, and the UAE) to achieve breakthrough operational efficiency and long-term digital success through innovative technologies and strategic partnerships.
Learn more about us at: www.inspirejo.com
