Bank NXT, a leading provider of integrated retail and corporate banking solutions in Egypt, announced the launch of a strategic alliance with Kaf Insurance, aimed at expanding access to insurance services and offering advanced financial protection solutions to customers. Kaf was established as a joint venture between EFG Finance, EFG Holding’s NBFI platform, and GB Corp, and is Egypt’s fastest-growing tech-enabled insurance company.
Through this partnership, Bank NXT customers will gain access to a diverse range of Kaf Insurance products, including life, savings and health insurance solutions, via the Bank’s branch network and digital channels. This collaboration will provide customers with a more seamless and flexible experience while addressing their evolving financial protection and insurance needs.
Commenting on the partnership, Sherif Nada, Chief of Retail, Branches Network & Business Banking at Bank NXT, said: “This alliance represents an extension of Bank NXT’s strategy to provide integrated financial services that cater to the evolving needs of our customers. Through our collaboration with Kaf Insurance and its advanced capabilities and digital solutions, we will offer reliable, innovative insurance services that enhance customer experience and support the Bank’s digital transformation agenda. This partnership also reinforces our efforts to provide customers with more accessible, flexible, and high-quality financial services.”
Sohail Ali, CEO of Kaf Insurance, commented: “We are proud to partner with Bank NXT in line with our shared vision of expanding access to innovative insurance solutions and enhancing financial inclusion. This partnership represents a crucial step in making insurance products more accessible through seamless digital and branch-based channels, while delivering tailored protection solutions that address the evolving needs of both individuals and businesses. Together, we are committed to creating greater value for customers and contributing to the continued development of Egypt’s bancassurance sector.”
This partnership reflects the commitment of both organizations to advancing financial inclusion and fostering innovation across financial and insurance services. By combining their respective expertise and capabilities, Bank NXT and Kaf Insurance aim to deliver added value to customers while supporting the continued growth of the bancassurance sector in the Egyptian market.
