eNovate Launches Egypt’s First University Student Banking Product in Collaboration with Visa and Arab Bank
eNovate, a subsidiary of e-Finance Investment Group, has officially launched its first banking product for university students in Egypt under the Youth Banking as a Service (Y-BaaS) model. Developed in partnership with Visa, a global leader in digital payments, and Arab Bank, the product, named “Rize”, introduces a fully integrated digital banking ecosystem within the university environment. Helwan University serves as the first institution to implement this innovative solution.
Rize combines a multi-purpose prepaid card with a dedicated mobile application designed specifically for young people within closed communities such as universities. The Rize card functions as both an official university ID and a secure payment method, displaying the student’s name, photo, faculty, and ID number. This integration enables students to manage daily expenses with flexibility and safety, promoting financial awareness and independence.
The first phase of the project includes the distribution of 64,000 Rize cards across 22 faculties at Helwan University’s Helwan and Zamalek campuses, demonstrating the initiative’s extensive reach. The Rize platform allows students to monitor expenses, withdraw and deposit cash through ATMs, conduct transfers via the IPN network, and perform peer-to-peer transactions between Rize cards. The system ensures a secure, transparent, and connected digital community directly linked to on-campus services.
By offering a seamless combination of financial tools and digital solutions, Rize represents a strategic approach to empowering university students, equipping them with practical knowledge and capabilities to navigate the digital economy effectively. The launch at Helwan University is the initial step in a broader nationwide initiative aimed at enhancing financial literacy and independence among young people.
