In a move set to reshape the landscape for small and medium-sized enterprises (SMEs) in Egypt, Fawry, a pioneer in electronic payments and banking technology, has entered into a strategic cooperation agreement with Hulul, backed by WideBot, the leading Arabic-focused conversational AI chatbot building platform in the MENA region.
Under this groundbreaking collaboration, Fawry will integrate its cutting-edge electronic payment systems with Hulul’s services, leveraging AI-driven chatbots to catalyze digital transformation for SMEs. The aim is to empower emerging institutions, particularly small and medium-sized businesses, by providing them with innovative fintech services. This strategic move is poised to fortify their positions within the Egyptian market.
The core of this collaboration lies in Fawry’s commitment to furnish Hulul’s network of SMEs with the latest in fintech innovation. Through an automated chat feature relying on AI, Fawry will create a seamless payment link, facilitating secure electronic transactions. This initiative is anticipated to expedite the digital transformation journey for these enterprises, bolstering their competitiveness and operational efficiency.
The collaboration seeks to combine Fawry’s expertise in payment solutions with Hulul’s advanced AI-driven digital transformation services. This partnership aspires to revolutionize SME operations in the digital realm, offering them comprehensive tools to drive growth, enhance efficiency, and elevate customer experiences.
Hulul, a subsidiary of WideBot Artificial Intelligence, has positioned itself as a critical player in supporting SMEs to navigate the complexities of digital transformation. With an impressive customer base of 35,000 and having processed over a billion messages, Hulul’s services reach more than 60 million customers in over 40 countries. The platform boasts a market presence that spans 20 regional and global partners.
Heba El-Awady, Chief Business Officer at Fawry, expressed the company’s commitment to fostering startups and small businesses across various industries. She emphasized the provision of innovative payment technology services aimed at propelling growth, aligning with the dynamic entrepreneurial landscape in Egypt, and ultimately contributing to the advancement of the Egyptian economy.
Mohamed Nabil, CEO and co-founder of WideBot, expressed pride in the collaboration with Fawry, highlighting their joint efforts to usher in comprehensive changes to the business flow systems of small, medium, and emerging companies. Nabil emphasized the innovative combination of the latest financial technology and artificial intelligence tools, designed to offer an unparalleled experience through secure and innovative services and solutions.
This strategic partnership between Fawry, Hulul, and WideBot is poised to reshape the digital landscape for SMEs, driving economic growth and innovation within the Egyptian market.
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard.