KFHOnline total transactions exceed 100 million in one year
Digitization vital pillar of KFH strategy: Mandani
KUWAIT CITY, Dec 21: The total transactions completed by Kuwait Finance House’s (KFH) customers through KFHOnline on the website or the mobile app exceeded 100 million in the last 12 months until November 2019, with a growth rate of over 25% compared to same period last year.
The e-banking transactions included: logins, local and telex financial transfers, opening deposits, adding beneficiaries, balance inquiry, cheque book request, opening KFH gold account, conducting gold transactions (purchase, sell and trade), requesting financing, opening an account, applying for Al Khair card, and checking the PINs for credit and debit cards. Among the other services, for example but not limited to; activating new bank cards, reporting a lost credit/debit cards as well as checking the financing obligations and the number of installments.
Group Chief Retail and Private Banking Officer at KFH, Waleed Khaled Mandani said that these figures reflect the efficiency of KFHOnline services, confirming the bank’s leadership position in providing mobile banking services that enable customers to complete their banking transactions anywhere in Kuwait or abroad, around the clock.
Mandani confirmed that KFH had made significant strides with its digital transformation journey, drawing attention to its advanced and innovative financial services and products.
He confirmed KFH’s keenness on constantly improving its digital banking solutions, especially that the bank has uniquely rolled out innovative services that can be competed online and via mobile using robotics and AI.
Mandani also mentioned that the XTMs and the smart branches; KFH Go contributed in adding value to customer experience, reiterating that the easy banking services encourage customers to use KFHOnline in their transactions.
He listed some of the financial solutions that KFH launched such as KFH Xpress, instant financial transfers service using RippleNet network, Mobile Deposit of Cheques that enables quick deposit of cheques in a fast and efficient way to customers’ accounts, the queuing system Skiplino for booking appointments electronically in bank branches, opening several KFH-Go selfbanking stations, cash withdrawals via mobile using QR code, Civil ID or mobile number, KFH Pay service for electronic payments, instant cheques printing, receiving gold biscuits (10 grams), opening Al Rabeh and savings accounts, Robotics Process Automation, Artificial-Intelligence-driven Chatbot, KFH Pass that allows customers to postpone the one of their installment payments online, and many other digital services.
Mandani said that KFH has received “Best Product Launch in the Middle East for KFH Go Digital Self-Banking Station” award from EMEA Finance Magazine, indicating the award comes in recognition of the high-quality services offered by this smart branch and met customers’expectation.