GRG Banking, a global leader in intelligent financial solutions, has signed a strategic cooperation agreement with IST (Idol System for Technology), its exclusive local partner in Egypt, to establish the first ATM assembly and manufacturing facility in the Middle East and Africa. The milestone was marked during GRG Banking’s recent high-level visit to Egypt, which also included the signing of a Memorandum of Understanding (MoU) to jointly develop an ATM operation platform for the region.

This joint initiative aims to support the localization of smart financial technology services, including the manufacturing, assembly, installation, maintenance, and operation of ATMs, while also enhancing Egypt’s capacity in digital banking infrastructure and financial service delivery. The move is expected to reduce Egypt’s import dependency, meet domestic demand for ATMs, transfer technical expertise, and generate new employment opportunities—contributing directly to Egypt’s digital transformation goals.

During the visit, in-depth discussions were held between GRG Banking executives and IST leadership on accelerating regional financial digitization and strengthening ATM service efficiency and competitiveness. A key outcome of these talks was a shared vision to position Egypt as a regional manufacturing and technology hub, enabling exports to African and European markets.

The partnership has garnered strong support from key Egyptian government bodies. Eng. Ahmed El Zaher, CEO of the Information Technology Industry Development Agency (ITIDA), praised the initiative and emphasized Egypt’s favorable ICT investment environment and highly skilled local talent pool. He stated, “ITIDA will support the development of a robust ATM operation platform by GRG Banking and IST, as well as the local manufacturing of hardware components in Egypt. This will help further position Egypt as a global hub for IT services and innovation.”

Reinforcing GRG Banking’s commitment to Egypt, Andy Huang and his delegation met with senior leadership from key financial institutions, including Egypt Post. In a meeting with Mrs. Dalia El Baz, Chairperson of the National Post Authority, discussions focused on digital branch transformation, advanced cash management solutions, and expanding banking access to underserved and remote communities.

The establishment of the new factory and operation platform is a cornerstone in Egypt’s journey to becoming a center of excellence for fintech innovation and manufacturing. It will strengthen local production capabilities, support the digitalization of financial services, and open the door for future investment opportunities in the region.