Recognizing the valuable contributions and diverse experiences of its employees, Kuwait Finance House (KFH) honored the winners of its annual Group-level Innovation Challenge. This competition aims to create innovative services and solutions, leading to the development of systems and better customer experience.

The honor ceremony was held in the presence of Acting Group CEO of KFH, Abdulwahab Iesa Al Rushood; Senior Deputy Group CEO-Finance, Shadi Zahran; Deputy Group CEO-Transformation, Technology and Operations, Haytham Abdulaziz Alterkait; and KFH Group Chief Human Resources and Transformation Officer, Zeyad Abdullah AlOmar, along with other KFH leaders.

The first three place winners were awarded a total prize of $45,000 after a great competition. Each project underwent a meticulous evaluation by a specialized committee, ensuring adherence to the highest standards. Key criteria included alignment with this year's AI theme, adherence to KFH`s general policy, successful implementation, and the presence of clear steps and specific implementation stages. Criteria also consider dimensions such as competition, profitability, quality, and adherence to local and global professional and regulatory standards.

A specialized committee within Executive Management evaluated nominated ideas in the final stages of the selection process and chose the winning entries. These efforts empower KFH Group to adopt a flexible business model, actively driving the consistent flow of innovative ideas across the organization. This model adapts to the unique characteristics of each market the Group operates in, considering customer segments, guidelines, and relevant criteria.

In his speech during the ceremony, Acting Group CEO of KFH, Abdulwahab Iesa Al Rushood, emphasized the importance of motivating distinguished staff to develop innovative ideas that contribute to business growth and enhance the customer experience.

He pointed out that KFH strives to maintain its leadership in the Islamic banking industry by raising the level of innovation, adopting artificial intelligence, supporting the use of its solutions, and encouraging the adoption of this new level to benefit both KFH and its customers.

Al Rushood noted that the competition stringently scrutinized ideas, assessing them against rigorous criteria and evaluating their intended use. All aspects of each idea underwent thorough discussion. Following the selection process, three winning ideas were chosen and will soon be implemented to achieve their planned objectives.

Deputy Group CEO Transformation, Technology and Operations, Haytham Abdulaziz Alterkait

Deputy Group CEO Transformation, Technology and Operations, Haytham Abdulaziz Alterkait expressed his pride in KFH employees who consistently submit outstanding ideas and advanced solutions in each edition of the Innovation Challenge. These submissions have a significant positive impact on KFH systems, improve overall performance, streamline procedures, and enhance the customer experience.

He highlighted that choosing Artificial Intelligence as this year's theme reflects the rapid global advancements in AI. The reliance on AI has become paramount in numerous systems, serving to facilitate and expedite business processes while concurrently delivering optimal solutions. This accelerates human progress with a focus on accuracy and quality.

Alterkait said that creativity and innovation play a pivotal role in continuously enhancing the customer experience. He highlighted KFH's dedication to empowering employees with the necessary technological resources to bring their innovative ideas to life, thereby achieving KFH's goals and enhancing service excellence.