KFH to launch instant cross-border payments to beneficiaries at KFH-Turkey using RippleNet
Zero-fee service, available 24/7 through KFHOnline
KUWAIT: Group Chief Retail and Private Banking Officer at Kuwait Finance House (KFH), Waleed Khaled Mandani said that KFH has successfully completed all technical preparations and launched pilot testing for instant crossborder payments to beneficiaries at KFH-Turkey using Ripple’s technology, the enterprise blockchain solution for global payments. “Financial institutions can send payments anywhere instantly, reliably and cost-effectively by joining Ripple’s growing, global network RippleNet”, he added.
Mandani pointed out in a press release, that KFH will announce very soon the launching of the service to KFH customers, confirming KFH’s ongoing keenness to adopt the latest financial technology while delivering superior customer experience.
He indicated this service comes to serve our customers who want to perform instant transfers to Turkey for personal expenses or investments, in addition Instant Transfer to Kuwait Turk service is presented to KFH customers with zero-fees and the service is available 24/7 in a secure and fast manner through KFHOnline service and KFH mobile App (IOS and Android).
“This service improves and facilitates customers’ cross-border payment methods through trusted global banks network, maximizing the role of blockchain instant payment in providing best service as per highest quality standards,” Mandani added.
He boasted that KFH was among the first Kuwaiti banks to join RippleNet, reiterating this move enhances customer experience and comes in line with KFH digital transformation strategy. Mandani concluded by emphasizing that the bank has been always a pioneer in embracing FinTech and rolling out innovative digital services as per highest standards of quality.
KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic financial products and services, not to mention a high standard of innovation and customer service.
KFH manages its operations in the GCC, Asia, and Europe through over 510 branches, including KFH-Turkey, to offer services for the bank’s customers in Turkey, Malaysia, Saudi Arabia, Bahrain, Germany, and the UAE.
KFH’s mission is to achieve highest levels of excellence and innovation in the field of customer service, while developing common interest for all those concerned with the financial institution. KFH’s vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.
KFH’s values include cementing leadership through all its businesses, including leadership in the Islamic banking services worldwide, through innovation, superior customer service and the development of its employees. In addition, KFH is committed to all its procedures, and to setting up long-life partnerships with the concerned authorities.