Egypt’s brokerage firms adopt plans for digital transformation to attract new clients

Egypt’s brokerage firms adopt plans for digital transformation to attract new clients

Brokerage companies on the Egyptian Exchange (EGX) have started to adopt digital transformation plans in stock trading with the aim of attracting new clients, increasing market shares and reducing costs. Various financial institutions have taken serious steps towards digital transformationduring the recent period, which in turn enhances financial inclusion in the country.

The EGX is considered one of the most prominent institutions that have taken strong steps in the process of digital transformation and technological development in recent years, by developing all auxiliary systems to enhance investments by relying on financial technology applications, which in turn prompted brokerage firms to embrace the digital transformation process.

In conjunction with the FRA’s launch of the executive laws entrusted with organizing and facilitating the digital transformation process for companies providing non-banking services, harnessing the capabilities of technology to support the government’s vision to achieve financial inclusion, and empowering different segments of society to benefit from non-banking financial services.

Brokerage companies are considered one of the most important sectors that may benefit from the new facilities, to launch electronic services to facilitate trading operations on the stock exchange, and to attract new investors by facilitating account opening operations, facilitating trading operations, and issuing remote buying and selling