Contact Creditech ,the digital consumer financing arm of Contact Financial Holding, has launched the new digital platform “ContactNow”, which is the first comprehensive financial platform in the market that provides best in class experience & design using the most advanced elements of UX & UI. It also provides variety of functionalities that tackle the whole customer lifecycle fulfilling financial & non-financial needs. The platform is considered the first of its kind in the consumer finance market due to the diversity of services that are availed on the platform that is offered by Contact Financial Holding.
One of the key features is instant credit limit approval whereby the customers can apply digitally and get instant decision. The credit assessment is built using AI engine to determine the credit worthiness in addition to the ability of verifying the customer identity through the instant integration with I-Score, civil registration, in addition to the use of modern technological solutions to verify the identity of the applicant such as comparing the personal image with the one on the national number. The digital limit approval follows an internal credit policy that considers lending rules and regulations in place.
The platform adopts the latest security measurements, login is completed using the customers’ registered mobile number and second layer verification is in place. For easier access to the platform, customers can login using biometric authentication (Face ID/ Fingerprint)
Adding to the main feature, ContactNow is not only limited to installments repayments, but also delivers diversified services provided by the group including utility, mobile bill payment & donations in addition to investment tools for saving in the near future. Customers can monitor the transactions spend behavior, explore the whole merchant network, the latest offers and loyalty programs, requesting a balance increase, requesting invoice installments, etc.
Ahmed Samir Kamel: Managing Director of Contact Creditech expressed his pride with the launch of ContactNow digital platform, as the company is always keen to provide new and multiple services in one platform following the customer centricity approach responding to the customers’ needs enabling them to easily access all the group’s financial services and benefit from various newly introduced features in order to save time and effort. Samir added, “The company relied on the latest technological advancements, AI programs, and modern personalized communication tools that works on targeted communication to meet the interests of each customer individually. Moreover, full set of reporting and analysis tools are in place to guarantee the ongoing understanding of customer behavior & needs.”
Said Zater: CEO of Contact Financial Holding Group, mentioned “Digital transformation and the use of technology and data analysis is not new to Contact. In 2004, we launched the first car community website in Egypt, followed by the launch application in 2013, and then the first comprehensive Contact application in 2021. In the same year, we launched Contact WhatsApp Chat Bot, which is based on AI technology that is fully developed internally by Contact calibers.
The launch of ContactNow platform represents a major milestone towards Contact’s digital transformation journey. Zater added: “We are happy that we were able to launch this platform for the first time in the market to include the capabilities of the group and at the same time use the latest technological advancements to achieve the best experience. This platform is the result of the group’s efforts to shift towards digitalization to achieve different strategic goals of sustainable development and spreading financial awareness as part of financial inclusion. This has been always part of the group’s development strategy at earlier stages, when the electronic payment and collection systems were introduced.
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