Tamweely, MerQ launch 1st microfinance market chatbot

Hossam Mounir
4 Min Read
Amr Abu Al-Azm, Chairperson and Managing Director of Tamweely

Tamweely has launched the Egyptian microfinance sector’s first artificial intelligence (AI) programme, in cooperation with AI application specialists, MerQ.

Ahmed Khorched, CEO of Tamweely

Amr Abou El-Azm, Chairman and CEO of Tamweely, said this step comes as Egypt targets an increase in the use of AI in relation to the gross national product by 2030.

He also said that Tamweely’s clients now enjoy the virtual financial assistant service, or chatbot, which allows them easy communications with the company at any time, all through the week. The programme is trained to understand human language and answer client questions, and has been specifically developed for Tamweely clients.

Abu Al-Azm added that when using Tamweely’s electronic platforms, whether it be the company’s website or social media platforms, customers will find “Fahim” waiting for them, ready to answer their text and voice inquiries.

The chatbot will help clients with financing queries, as well as providing a range of interactions on services, products and branches. This comes in addition to receiving funding requests and providing detailed information about electronic payment methods, with all answers meticulously based using attractive visuals.

Ahmed Khorched, CEO of Tamweely for Micro Enterprises, said that due to the novel coronavirus (COVID-19) pandemic, the company was keen to develop its electronic services. The most recent of these developments was the virtual financial assistant chatbot, designed to enhance precautionary measures and facilitate the company’s dealings with current and new customers.

“The chatbot service, the virtual financial assistant from Tamweely, is based on the latest innovative solutions provided by MerQ Artificial Intelligence, a pioneer in the field of developing an interactive chatbot (chatbot) through text and voice conversations, in order to facilitate communication with financing clients,” Khorshid added.

MerQ founder Walid Ghalloush

He revealed that this step comes as the part of the company’s desire to help its clients make the right financial decisions quickly and easily. It also comes in line with Egypt’s digital transformation strategy, and the Financial Regulatory Authority (FRA) plans to increase financial inclusion.

The chatbots are designed to meet the needs of the company’s customers, as 56% of clients prefer to communicate using messages over phone calls.

Khorshid pointed out that Tamweely has an integrated digital transformation plan that includes expanding the use of electronic payment methods and providing electronic loans.

MerQ founder Walid Ghalloush said that he is proud to have contracted with a pioneering institution such as Tamweely to develop the services provided to this vital sector. He anticipates that customers will be able to enjoy a smoother and smarter self-use experience as a result.

MerQ has previously launched the “Sally” programme, the first virtual financial assistant for credit cards in Egypt, to introduce all credit card systems. It responded to the inquiries of nearly 350,000 users, with nearly 50 million messages.

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