Xpress Money ties up with Commercial International Bank - Egypt

Xpress Money, the leading global brand in instant money transfers and Commercial International Bank (CIB), one of the most prominent commercial banks in Egypt, have entered into a joint agreement wherein CIB would provide Xpress Money service through its wide branch network.

Mr. Amr El-Ganainy - General Manager – CIB’s Head of Financial Institutions Group, stated that, “this new association between Xpress Money and CIB would be advantageous to Egyptian expatriates in terms of transfering money instantly from anywhere across the globe. Additionally, in the near future money transfers from Egypt will be introduced through Xpress money’s global network.”

Mr. Mohammad El-Alayly – CIB’s Head of International Marketing stated to the Press that, “CIB has been continually on the lookout for the best brands in the market for partnerships, and Xpress Money was the right choice for instant money transfers, as it is a popular brand with increasing acceptance among customers globally.”

Xpress Money’s Managing Director and CEO, Dr. B. R. Shetty, stated that this development was a significant one and would be a significant step in realizing its business objectives in terms of its growth plans. “This arrangement would be mutually and synergistically beneficial to both CIB and Xpress Money. CIB, having been termed the Best bank in Egypt by many publications, would help Xpress Money reach out to a wider base of Non-Resident Egyptians.”

He added that, “With the aim of becoming the global leader in instant money transfers, Xpress Money has adopted an aggressive plan aiming at optimizing its visibility worldwide, strengthening its network by identifying and associating with capable partners across the globe and by investing in state-of-the-art technology which consistently improves its service offering, the benefits of which are passed on to its customers.”

With a fast growing presence across five continents, Xpress Money became popular among customers who require quick and reliable money transfers and convenient payout networks. Its agent network includes many prestigious banking and non-banking entities. Moreover, unparalleled customer service and excellent product quality are integral factors of the brand loyalty that Xpress Money enjoys.

Currently the brand is placed ahead of its competitors because of the unmatched features it offers including its niche positioning as an "affordable instant money transfer service". It also offers payment confirmation through SMS messaging to the sender upon payment collection by the beneficiary, and strategically located pay-in and pay-out locations covering the major residential and commercial hubs across the world.

CIB currently holds the largest market capitalization in the Egyptian financial sector and is extensively recognized as a market leader in Egypt. The Bank’s strongest brand equity in corporate banking has helped CIB in consistently being recognized on a global level as the 'Best Bank in Egypt', on numerous occasions. In a recent article, the Financial Times (German version) highlighted CIB as one of few banks, globally, that remains solid and safe after the global financial crisis.

This unique blend of focus on excellent service and high banking standards sets off a business association which is bound to benefit both the companies as well as customers for years to come.