EFG Hermes: Achieving Digital Agility through API-led Integration
Technology Category
- Application Infrastructure & Middleware - Data Exchange & Integration
- Application Infrastructure & Middleware - Middleware, SDKs & Libraries
Applicable Industries
- Buildings
- Finance & Insurance
Applicable Functions
- Maintenance
Use Cases
- Inventory Management
- Leasing Finance Automation
Services
- System Integration
About The Customer
EFG Hermes Holding is a universal bank based in Cairo and the leading investment bank franchise in Frontier Emerging Markets (FEM). The firm specializes in securities brokerage, asset management, investment banking, private equity, BNPL, leasing and factoring, microfinance, insurance, mortgage, and commercial banking. The company has over 6,000 employees in 13 countries across four continents and recorded revenues exceeding $388 million in 2021. EFG Hermes Holding has a history of innovation, having evolved from an Egyptian investment bank into a Universal Bank in Egypt with the leading investment bank franchise in FEM. Its novel BNPL platform, valU, is the first of its kind in the Middle East and North Africa region.
The Challenge
EFG Hermes Holding, a universal bank based in Cairo, was facing several challenges as it sought to expand into the non-bank financial product market. The company was developing a new consumer financing platform that required greater digital agility. They needed to provide a connected customer experience, modernize their legacy integration, and minimize disruptive back-end changes. The company's novel BNPL platform, valU, had grown in popularity since its launch in 2017. However, as the suite of applications expanded, the IT systems became less agile due to rigid point-to-point connections. This lack of agility led to service interruptions when replacing applications and delays in updates to the valU mobile app. To ensure an exceptional customer experience, EFG Hermes Holding recognized the need for a more agile, secure, and easy-to-maintain services architecture.
The Solution
EFG Hermes Holding chose webMethods for its end-to-end suite of integration products. The webMethods Integration Platform provided a powerful solution to quickly connect all internal systems and applications. WebMethods' API Management enabled safe, secure, and thoroughly monitored data sharing with partners, facilitating faster product and service delivery. The company also appreciated Software AG's flexible sales model, strong network of Egyptian partners, and comprehensive view of how a transformed enterprise architecture could yield significant business benefits. In collaboration with Majara Solutions, a longtime Software AG partner in Cairo, developers overhauled the integration of critical front- and back-end channels. This included the valU mobile app and customer relationship and risk management applications. The software now processes over 1.5 million daily transactions, reducing back-end changes by 40%, cutting product time to market by nearly 60%, and enabling application changes without service interruption.
Operational Impact
Quantitative Benefit
Case Study missing?
Start adding your own!
Register with your work email and create a new case study profile for your business.
Related Case Studies.
Case Study
Energy Saving & Power Monitoring System
Recently a university in Taiwan was experiencing dramatic power usage increases due to its growing number of campus buildings and students. Aiming to analyze their power consumption and increase their power efficiency across 52 buildings, the university wanted to build a power management system utilizing web-based hardware and software. With these goals in mind, they contacted Advantech to help them develop their system and provide them with the means to save energy in the years to come.
Case Study
Intelligent Building Automation System and Energy Saving Solution
One of the most difficult problems facing the world is conserving energy in buildings. However, it is not easy to have a cost-effective solution to reduce energy usage in a building. One solution for saving energy is to implement an intelligent building automation system (BAS) which can be controlled according to its schedule. In Indonesia a large university with a five floor building and 22 classrooms wanted to save the amount of energy being used.
Case Study
Powering Smart Home Automation solutions with IoT for Energy conservation
Many industry leaders that offer Smart Energy Management products & solutions face challenges including:How to build a scalable platform that can automatically scale-up to on-board ‘n’ number of Smart home devicesData security, solution availability, and reliability are the other critical factors to deal withHow to create a robust common IoT platform that handles any kind of smart devicesHow to enable data management capabilities that would help in intelligent decision-making
Case Study
Real-time In-vehicle Monitoring
The telematic solution provides this vital premium-adjusting information. The solution also helps detect and deter vehicle or trailer theft – as soon as a theft occurs, monitoring personnel can alert the appropriate authorities, providing an exact location.“With more and more insurance companies and major fleet operators interested in monitoring driver behaviour on the grounds of road safety, efficient logistics and costs, the market for this type of device and associated e-business services is growing rapidly within Italy and the rest of Europe,” says Franco.“The insurance companies are especially interested in the pay-per-use and pay-as-you-drive applications while other organisations employ the technology for road user charging.”“One million vehicles in Italy currently carry such devices and forecasts indicate that the European market will increase tenfold by 2014.However, for our technology to work effectively, we needed a highly reliable wireless data network to carry the information between the vehicles and monitoring stations.”
Case Study
Protecting a Stadium from Hazardous Materials Using IoT2cell's Mobility Platform
There was a need for higher security at the AT&T Stadium during the NFL draft. There was a need to ensure that nuclear radiation material was not smuggled inside the stadium. Hazmat materials could often be missed in a standard checkpoint when gaining entry into a stadium.
