Kuwait Finance House (KFH) organized a seminar titled (Digital Transformation and Innovation) for College of Business Administration Students in Kuwait University. The seminar was presented by KFH Executive Manager Digital Transformation, Eng. Tareq Al-Ajeel.

During the seminar, Al-Ajeel showcased the prominent fundamentals of digital transformation strategy in KFH, features of the major services and products the Bank offers, in addition to digital field of studies and jobs required in the labor market. The seminar aimed to educate and keep young students updated on the latest development in the e-banking sector and digital transformation in the banking sector generally, and in KFH specifically.

“The strategy that was adopted by KFH’s Board of Directors about 9 years ago, has succeeded in yielding positive results and contributed to saving KFH from the risks of closing down operations during COVID-19 pandemic, thanks to the advanced technological infrastructure and KFH’s qualified and trained human talents.” said Al-Ajeel.

He went on to say that in addition to KFH’s range of services and products that are designed according to considerations of ease, accuracy, and safety, have strengthened customers’ views towards digital banking services.

He added that digital transformation at KFH has strengthened banking service productivity and performance, for both the customer and the employee, in addition to accelerating the time to complete the services, reduce costs, mitigate risks, increase profits, meet customers’ aspirations, enhance the Bank’s position, and make optimal use of capabilities, while achieving financial inclusion.

He said that KFH is persistently working on developing its tools and processes of providing a service compliant with the latest world-class technical developments, in addition to developing digital platforms with an advanced level of professionalism. This has made KFH offer the best customer experience through its new software platform.

“For example, KFH provides a fast and high-tech card printing service within 3 minutes. KFH is one of the first banks in the world to provide this service through ATMs around the clock and through 100 machines spread across most areas.” added Al-Ajeel.

He pointed out that a range of new technical services have been offered, most outstanding of which are online finance request through KFHonline, KFH Wallet service through mobile phones and smart watches according to the highest standards of security in cooperation with Fitbit Pay, Garmin Pay, Samsung Pay and Apple Pay. Further, KFH Pay service assists small business owners and customers in general in exchanging money safely with other parties from KFH customers and other banks.

He added “KFHonline offers over 150 diversified and comprehensive services such as requesting a personal finance, opening deposits, adding beneficiaries, requesting cheque books, opening Gold Account, selling, buying, trading and delivering gold, as well as starting investment plans.”

Al-Ajeel pointed out that the massive and non-stop technological development that is entwined with all aspects of our daily life, has resulted in a huge demand which is expected to increase in the next 10 years, for 6 types of jobs including: Management Information System (MIS), Artificial Intelligence (AI), Blockchain, Data Management and Information Security, Programming, Robotics, and Computer Engineering.

It is worth noting that KFH’s Digital Transformation and Innovation Department organized this seminar to bridge the knowledge gap between youngsters and the banking sector. The seminar was arranged and prepared by the Fintech and Partnerships Team in the Digital Transformation and Innovation Department in cooperation with the Youth Communication and Public Relations Team and the ISOM Club in Kuwait University.