EFG Hermes launches EFG Hermes One digital buying and selling platform in Egypt at RiseUp Summit 2021
New and Improved EFG Hermes One Cell App Delivers Streamlined, Person-Centric Brokerage Companies to Retail Traders in Egypt
Cairo, November 25, 2021
EFG Hermes, the main common financial institution in Egypt and the main funding financial institution for rising frontier markets (FEM), at the moment introduced on the RiseUp Summit 2021 the launch of a sophisticated model of its flagship buying and selling platform “EFG Hermes One “. The brand new app will provide a wider vary of brokerage providers, a completely digitized onboarding course of, a digital cost gateway and extra, all via the brand new and improved consumer interface.
Sameh Assran, Deputy Director of Brokerage and Co-Head of Brokerage in Egypt at EFG Hermes, stated: “The launch of the all-new EFG Hermes One app comes at a crucial time within the historical past of the Egyptian capital market, as retail exercise within the fairness market resumes. . The brand new platform is proof of our dedication to offer unparalleled accessibility to digital brokerage to our purchasers and our willingness to proceed to unlock extra retail participation. By harnessing the synergies inherent in our enterprise mannequin, we hope to current the EFG Hermes One as a one-stop brokerage resolution and, in flip, proceed to keep up our place on the head of the Egyptian fintech area. ”
Abdelhameed Sharara, Founder and CEO of RiseUp Summit commented: “We’re delighted to see a sophisticated buying and selling utility like EFG Hermes One launched at RiseUp Summit 2021, because the Egyptian inventory market continues to be promising and resilient. With RiseUp Summit’s know-how pool – savvy company from numerous backgrounds and industries, the Summit is the right platform to showcase the limitless alternatives out there within the Egyptian funding area. It’s important that we acknowledge that better participation by retailers will put the markets on a constructive trajectory that advantages all events, together with buyers, listed firms and the Egyptian financial system as a complete. ”
The EFG Hermes One app will enable each new and skilled buyers to faucet right into a wealth of funding information, execute knowledgeable trades and monitor their portfolios in actual time, all via an easier and extra user-friendly interface. It additionally affords a streamlined digital onboarding course of, permitting customers to create an account quicker than ever. The app now additionally has a digital cost integration system powered by PayTabs Egypt, permitting customers to course of funds simply and effectively. As well as, EFG Hermes One customers can use the app’s new ‘Be taught’ tab, a information heart the place they’ll entry unparalleled details about EFG Hermes Analysis buyers to enhance their information of buying and selling. As well as, customers could have entry to the EFG Hermes One digital simulator, permitting them to simulate the buying and selling expertise on the app and develop their information and expertise earlier than executing actual trades.
Commenting on the relaunch of the app, Mohamed Wakeel, Group COO at EFG Hermes Holding, stated: “With the intensification of retail investor actions within the markets by which we function, it was essential to take steps to reorganize the EFG Hermes One platform as an extension of our dedication not solely to streamline the client expertise, however to foster knowledgeable decision-making and energetic engagement.We imagine customer-centric funding instruments are essential for every type of buyers, and it’s this perception that drives our digital technique to supply clear and progressive brokerage options. ”
The platform permits potential and present purchasers of EFG Hermes Brokerage to reap the benefits of the state-of-the-art interface to raised monitor and commerce a number of MENA markets, world inventory exchanges, in addition to a large assortment of asset courses from ‘one account. The app now additionally helps day buying and selling, brief promoting and margin buying and selling, permits customers to overview inventory quotes in actual time, place, monitor, overview, edit and edit. ‘cancel open orders transparently and simply create and monitor their portfolios.
Mohamed Fathy, Chief Data Officer at EFG Hermes commented: “The Egyptian inventory market is the third largest in Africa and presents promising funding alternatives. With no account opening restrict, EFG Hermes One permits customers to right away begin leveraging these fundamentals and creating Expertise is on the coronary heart of our brokerage operations at EFG Hermes, and the workforce has labored tirelessly to place out there for revolutionary and client-centric options, via a modernized model of our flagship buying and selling utility to fulfill the rising wants of retail buyers.
EFG Hermes Brokerage continued to outperform in 3Q2021, with revenues up 23% year-on-year to EGP 229 million pushed by greater revenues reported by operations in Egypt, adopted by Kuwait and the Structured Product Desk. EFG Hermes Brokerage’s whole executions reached $ 14.7 billion in 3Q21, reflecting executions in MENA and frontier markets, structured merchandise and glued earnings securities. Egypt was the primary contributor to brokerage commissions in 3Q21 with 30.2% of commissions, with Kuwait coming in second with 16.8%, adopted by the markets of the United Arab Emirates (Dubai and Abu Dhabi) at 12, 4%. Throughout 9M21, Egypt continued to carve out the lion’s share of commissions at 28.2%, with Kuwait coming in second with 18.0%, adopted by border markets (Nigeria, Kenya, Pakistan and different executions). borders) with 13.0%.
About EFG Hermès
With a present presence spanning 13 international locations on 4 continents, EFG Hermes began in Egypt and has grown over 37 profitable years to turn into the primary common financial institution in Egypt with a number one funding banking platform. with entry to rising and frontier markets. With our confirmed monitor document and a various workforce of proficient staff, we provide a variety of economic providers together with advisory, asset administration, securities brokerage, analysis and personal fairness. complete MENA area.
In 2015, EFG Hermes launched its Non-Financial institution Monetary Establishments (NBFI) platform, which screens actions within the area of non-bank finance overlaying microfinance, leasing, factoring, Purchase-Now Pay -Later (BNPL), mortgage and insurance coverage. This matches in with the corporate’s technique to give attention to two most important pillars: product diversification and geographic enlargement into non-MENA markets, which have enabled the corporate to determine a bodily presence in Pakistan, Bangladesh. , Vietnam, Kenya, Nigeria, United Kingdom and United States. In 2021, the corporate acquired a majority stake in aiBANK permitting the corporate to remodel right into a common financial institution in Egypt.
For extra data, please contact:
EFG Hermes public relations workforce
Mai El Gammal
Group Advertising & Communication Supervisor
Observe on forward-looking statements
On this press launch, EFG Hermes could make forward-looking statements, together with, for instance, statements relating to administration expectations, strategic goals, progress alternatives and enterprise prospects. These forward-looking statements usually are not historic details however signify solely the idea of EFG Hermes relating to future occasions, lots of which, by their nature, are inherently unsure and past the management of administration and embody, amongst others, the volatility of economic markets ; actions and initiatives taken by present and potential rivals; common financial circumstances and the impact of present, present and future legal guidelines, laws and regulatory measures. Subsequently, readers are cautioned to not place undue reliance on forward-looking statements, which converse solely as of the date on which they’re made.
EFG Hermes Holdings SAE printed this content material on 25 November 2021 and is solely accountable for the knowledge it incorporates. Distributed by Public, unedited and unmodified, on 25 November 2021 16:59:08 UTC.