The Venture Lab at The American University in Cairo (AUC Venture Lab), the leading university-based startup accelerator in Africa and the MENA region, and Temenos, company specialising in enterprise software for banks and financial services, with its headquarters in Geneva, Switzerland announced their intention to collaborate and strengthen the fintech ecosystem in Cairo.
Temenos and AUC Venture Lab will also collaborate on events and other community-building activities. It is envisaged that the AUC Venture Lab will play host to Temenos events, such as the upcoming “Meet the Marketplace” in October of this year, where global fintechs who are existing members of Temenos Marketplace will be invited to showcase and demo their solutions to a number of Egyptian financial institutions. A self-service digital store, MarketPlace provides banks with access to the best fintech solutions from around the world, available for trial at the touch of a button. These fintechs will demonstrate solutions, which can cater to opportunities and challenges relevant to the Egyptian market such as financial inclusion and literacy, digital engagement, security, risk and compliance.
“We are excited to be working with the AUC Venture Lab in accelerating and empowering digital innovation in Egypt. The Egyptian market is currently in an ideal position to take advantage of a rich fintech ecosystem that will help drive digital transformation across the banking industry.” – Jean-Paul Mergeai, Regional Director Middle East & Africa at Temenos
“The emerging fintech space in Egypt has the potential to transform the industry and expand access to financial services in one of the largest regional markets. At AUC Venture Lab, we understand the technological challenges that fintech startups face. Our partnership with Temenos responds to this challenge by offering our startups an exclusive opportunity to build their products on the Temenos platform and to accelerate their development cycle.” – Ayman Ismail, Director of AUC Venture Lab