One Bank CEO Moataz Motawea: InstaPay is a Shining Example of Digital Banking Success in Egypt

Moataz Motawea, CEO of One Bank, explained that demographic shifts and the behaviors of new generations are now a key factor in reshaping the future of Egypt's banking sector. He pointed out that this younger segment makes up about 40% of the total population, giving them a direct influence on the types of financial services being offered. Motawea added during a panel discussion at the 'Scaling Digital Finance in Egypt' event, organized by the American Chamber of Commerce in Egypt, that today's generation has really pushed their expectations and needs onto banks. This is a clear change from the old way where banks would just offer products and wait for customers to respond. He also highlighted the growing competition among financial institutions to meet these new digital demands. Motawea noted that demand trends clearly show a big move towards digital services, with more people using cards and adopting the InstaPay app. He described InstaPay as a successful model that truly shows the Egyptian market is ready to step into the digital age. He also confirmed that financial inclusion has come a long way, but the next big challenge is to make the financial system even more accessible and help people get the most out of digital services. When it comes to One Bank's strategy, Motawea clarified that the bank is focusing on two main areas: targeting the youth segment as a primary engine for future growth, and making financial services easier for all customers to access. He stressed that developing digital registration processes (Digital KYC) and improving the user experience through mobile banking apps has become crucial to make it simpler for people to join services and reduce the need to visit physical branches. He emphasized that investing in the digital customer journey is a strategic priority for banks. This will help provide advanced digital financial services, boost financial institutions' ability to keep up with rapid market changes, and put Egypt firmly on the path towards a comprehensive digital economy.