eNovate Launches Egypt’s First University Banking Product for Students in Partnership with Visa and Arab Bank
In a landmark move toward digital transformation and financial empowerment, eNovate, a subsidiary of eFinance Investment Group, has announced the launch of “Rize”, Egypt’s first university-focused banking product, in collaboration with Visa, the global leader in digital payments, and Arab Bank. The initiative marks the debut of the company’s Youth Banking as a Service (Y-BaaS) platform, with Helwan University becoming the first institution in Egypt to adopt this integrated ecosystem.
Rize is an innovative solution combining a multi-purpose prepaid card and a dedicated mobile app designed for youth communities such as universities. The card doubles as an official student ID—featuring the student’s name, photo, faculty, and ID number—while also functioning as a secure and convenient payment tool. The integrated system empowers students to manage their daily expenses with greater flexibility and financial awareness, supporting their independence and aligning with their digital lifestyle.
Nashwa Kamel, CEO and Managing Director of eNovate, emphasized:
> “Rize is not just a financial card or a smart app; it’s a strategic platform that embodies our vision for building a more financially aware generation prepared to lead the digital economy. Through our Youth Banking as a Service model, we aim to provide young people with the tools and knowledge they need to achieve financial independence and contribute to sustainable economic growth. The launch at Helwan University is only the beginning of a national-scale initiative.”
As part of the first phase, 64,000 Rize cards have been delivered to Helwan University, covering 22 faculties across its Helwan and Zamalek campuses.
The Rize ecosystem offers a seamless financial experience, combining cashless payments with advanced features such as expense tracking, ATM withdrawals and deposits, peer-to-peer transfers, and secure top-ups via IPN. It also connects directly with university services, creating a fully digital and community-driven campus experience.
Dr. Said Kandil, President of Helwan University, stated:
> “We are proud to partner with eNovate to bring this groundbreaking solution to our campus. The Rize smart card marks a significant step in digitizing student services and enhancing the overall university experience with secure, practical financial tools.”
Malak El Baba, Visa’s Country Manager for Egypt, added:
> “Rize represents a major milestone in integrating university students into the digital financial ecosystem. At Visa, we’re committed to providing innovative solutions that expand access to modern, secure banking and promote financial literacy among youth—an essential foundation for a more inclusive and sustainable future.”
Ahmed Ismail Hassan, Area Manager at Arab Bank – Egypt, commented:
> “Our collaboration with eNovate to launch Rize reflects Arab Bank’s strategic focus on supporting Egypt’s digital transformation and empowering youth through smart financial solutions. We believe this initiative will enhance young people’s ability to manage their finances independently and engage more effectively in the digital economy.”
Ibrahim Sarhan, Chairman of eFinance Investment Group, concluded:
> “Rize embodies our Group’s vision of driving digital transformation and financial inclusion, especially among youth. It demonstrates our ongoing commitment to providing smart, integrated solutions that align with modern digital lifestyles and the needs of new generations.”
The Rize launch is the first phase in eNovate’s broader strategy to expand its youth-focused banking ecosystem across Egyptian universities, reinforcing its position as a key enabler of digital payments and fintech innovation in Egypt and the region.
