FINAL WORD
operation and continuing communication, or
the volume of mutual transfers between the
two sides. approaches to achieve its objectives, improve
customer service and add more value to
maintain the leadership position of KFH.
Abo Alhous added that applying this
service comprises a paradigm shift and an
unprecedented development at the level of
the market in general and at the level of the
bank’s array of services in particular. It is worth noting that KFH has succeeded
in launching several innovative services.
KFH has lately implemented chatbots on
the bank’s banking platform be it online
or mobile which is available to customers
24/7, this improves service especially to its
millennial customers.
This service combines both banking business
and technological development. It serves in
improving and facilitating customers’ cross-
border payment methods through trusted
global networks, maximising the role of
Blockchain instant payment in providing best
service as per highest quality standards and
in line with security and speed manners.
He reiterated that this step emphasised
KFH’s flagship position in adopting
innovative financial solutions, while
offering the most advanced services as
per the highest standards of transparency
and efficiency.
KFH implemented a Robotic Process
Automation (RPA) program to streamline
internal processes for customer financing
transactions increasing efficiency and
reducing processing time.
Also, KFH launched the XTM that provides
customers with a unique self-service banking
experience, KFH Xpress for instant cross
border money transfers, cardless cash
withdrawals using QR codes or the mobile
number or simply using an ID card.
“
BLOCKCHAIN
TECHNOLOGY
GIVES KFH THE
OPPORTUNITY
TO APPLY NOVEL
APPROACHES.
cards on their mobiles. KFH also unveiled
KFH Go, the first-of-its-kind fully-automated
self-banking station.
This is in addition to the KFH-Wallet, a
Mobile Wallet Payment Service which
allows customers to store specific banking Managing Director, South Asia and MENA
at Ripple, Navin Gupta, said: “Kuwait and
KSA are large economies in the GCC and
Ripple is excited to get customers of KFH to
send instant payments into Al Rajhi Bank
in KSA. In 2019, we will work with KFH to
deliver quicker, cheaper payments to many
more countries.” n
NBK launches NBK Direct Remit
for immediate cross-border
transactions using the RippleNet
international network service is a significant achievement as it
enables our customers to make money
transfers within seconds, easily and at their
convenience anytime of the day. the region, and we’re excited that
they have begun moving live payments
across our Blockchain network on behalf
of their customers.
The National Bank of Kuwait (NBK) has
launched NBK Direct Remit for cross-border
live payments. “The launch comes as part of our
commitment to responding to the needs of
our customers wherever they are around the
world, providing them with safe solutions
and a global presence in 15 countries. “We will continue to work with NBK to
connect them to more RippleNet partners so
their customers can make quicker, cheaper
payments to anywhere in the world.”
He said that Blockchain technology
gives KFH the opportunity to apply novel
N
The system uses RippleNet’s enterprise
Blockchain technology solution to provide
customers with a frictionless remittance
experience and fast cross-border money
transfer solutions.
The bank, which offers the latest
technological solutions in the money
transfer sector, aims to continue launching
innovative solutions for the growing needs
of customers by adopting RippleNet’s
network globally. “Focused on Digital Transformation, NBK
has previously launched successful and
innovative products that serve different
segments, including the NBK Tap & Pay,
QuickPay, NBK SelfiePay, cardless cash
withdrawal and biometric cards, in addition
to the continuous enhancements to the NBK
Mobile Banking App and other services that
make our customers’ banking experience
an enjoyable one.” He added that the new
service will be available for customers to
make live payments to Jordan, and soon to
other countries.
Dimitrios Kokosioulis, Deputy CEO – Group
operations and Technology, said: “This Marcus Treacher, SVP of Customer Success,
Ripple, said: “NBK is an important partner in
NBK Direct Remit is a fast remittance service
available online 24/7 for all customers.
46
INTELLIGENTCIO
NBK is the largest financial institution in
Kuwait and enjoys a significant market share
in the local commercial banking sector.
NBK also maintains the highest credit
ratings among banks in the region and from
the world’s leading credit rating agencies:
Moody’s, Standard & Poor’s and Fitch.
NBK has a wide presence locally and
internationally through its branches,
subsidiaries and representative offices
internationally in China, Geneva, London,
Paris, New York and Singapore, as well
as regionally in Lebanon, Jordan, Egypt,
Bahrain, Saudi Arabia, Iraq, Turkey and
the UAE. n
www.intelligentcio.com