AI Becomes a Catalyst for Financial Inclusion at PAFIX Panel in Cairo
A dynamic discussion unfolded during a session titled «AI in Action: How Artificial Intelligence Is Transforming Access, Learning, and Engagement with Financial Services in Egypt», held as part of the PAFIX Conference running alongside Cairo ICT, the leading technology forum in the Middle East and Africa. The panel brought together prominent experts in fintech, digital banking, and consulting, who unanimously agreed that artificial intelligence is no longer a mere technical option or an advanced add-on. Instead, it has become a foundational pillar reshaping the future of financial services, boosting financial inclusion, and enhancing customer experience nationwide.
At the start of the session, Sally Abdelkader, General Manager of Financial Literacy at the Central Bank of Egypt, stressed that improving the digital experience for unbanked populations has become an urgent priority. She noted that the goal is no longer limited to onboarding individuals into the financial system, but enabling them to use services with awareness, understanding, and a practical ability to elevate their quality of life.
She added that the evolution of financial services has progressed from traditional branches and face-to-face identity verification to online and mobile digital channels. Although this shift was significant, she explained it is no longer sufficient to meet financial inclusion goals, especially given geographic disparities and variations in digital literacy across governorates.
Abdelkader emphasized that delivering equally high-quality financial services to all citizens, whether in Cairo or Upper Egypt, cannot be achieved through physical expansion alone. This makes artificial intelligence essential, as it enables the design of smarter, simpler, and more consumer-centric services with enhanced protection mechanisms.
Assem Galal, Managing Partner at Galal & Karawi Consulting, highlighted that understanding AI requires moving beyond the superficial perception that reduces the field to chatbots like ChatGPT. He explained that this common misconception obscures the true capabilities of AI, whose core lies in machine learning systems that emulate human intelligence, learn from data, and handle new problems without explicit programming.
Galal illustrated his point with the example of facial recognition technology in smartphones, which learns to identify faces under varying conditions. He also drew a distinction between digitization and digital transformation, stating that simply converting paper forms into electronic formats does not constitute real transformation. True transformation requires redesigning the entire customer journey to deliver tangible value.
Dalia Sweilem, Head of Digital Banking at QNB Egypt, addressed the practical applications of AI within the banking sector. She affirmed that integrating AI has become critical to accelerating banking processes and improving service efficiency.
She stressed that modern digital banking products must be designed based on customer needs rather than age groups or banking expertise. AI, she said, now enables highly accurate financial data analysis and personalized services at scale, enhancing the customer experience and supporting the sustainability of banking operations.
Sweilem added that community engagement remains a cornerstone for attracting new customers into the banking ecosystem. She noted that the coming phase will see increased reliance on AI-powered solutions for product management and user experience design within financial institutions.
In another intervention, Mohamed Abou El Naga Negaty, investor and entrepreneur, said that the global AI landscape is divided into four tiers: leading nations such as the US and China, and other countries that must accelerate their capabilities to catch up. He stressed that expanding access to financial services in Egypt requires close collaboration between regulators, fintech companies, and AI-enabling entities.
Negaty pointed out that data localization requirements represent a major challenge, as they demand massive infrastructure and GPU-based systems for training and operating models. He added that partnerships with companies such as NVIDIA have become essential for building local capabilities that can serve millions of users. The ultimate goal, he said, is to empower everyday Egyptians with services that match those offered to premier banking clients.
He further noted that fintech companies have far greater reach to mass customer segments than traditional banks, calling for a model in which banks act as enablers while fintech firms lead the customer journey.
Closing the session, Rami Taha, Deputy CEO of Retail Banking and Digital Banking at Bank of Alexandria, said that artificial intelligence has already become a fixture in Egyptians’ daily lives, whether they recognize it or not.
He noted that the overwhelming majority of attendees raised their hands when asked if they had used AI within the past 24 hours, proving the widespread integration of these technologies across consumable apps, banking tools, and educational platforms.
Taha praised the Central Bank’s vision, which brought together banks, financial institutions, and technology companies under a unified platform. He stressed that deeper integration between banks, fintech innovators, and major tech firms is the path toward a more advanced and sustainable financial sector. He added that the coming period will witness the emergence of entirely new business models built on AI-powered customer insight and large-scale personalization.
All participants agreed that AI has become the primary catalyst for advancing Egypt’s financial sector, and that blending technology with innovation and the national strategy for digital transformation will pave the way for a more inclusive, efficient, and accessible financial system.
Cairo ICT 2025, now in its 29th edition, is taking place from 16 to 19 November at the Egypt International Exhibition Center in New Cairo under the patronage of Minister of Communications and Information Technology Dr. Amr Talaat. Held under the theme «AI Everywhere», the event hosts more than 500 exhibitors.
The exhibition houses five major tracks: PAFIX for digital payments and financial inclusion, AIDC for artificial intelligence and data centers, Connecta for youth and digital entertainment, Innovation Arena, and Cyber Zone. For the first time, activities are held across two venues inside the exhibition area.
Key government bodies and leading institutions are participating, including the Ministry of Communications and Information Technology, the Central Bank of Egypt, the Financial Regulatory Authority, the National Telecom Regulatory Authority, ITIDA, Egypt Post, the Arab Organization for Industrialization, and Future of Egypt Project as Guest of Honor.
This year’s event is sponsored by Dell Technologies, e-finance, WB Engineers+Consultants, CIB, Huawei, Orange Egypt, EgyptAir, Egypt Trust, Mastercard, Medar, Fortinet, Salesforce, Benya Group, Khazna, National Bank of Egypt, Arab African International Bank, Bank of Alexandria, Shaker Group, ICT Misr, IoT Misr, Network International, and Meinhardt.