Kuwait Finance House (KFH) successfully concluded its participation in the "Innovation Challenge 2024" program, organized by the Kuwait Foundation for the Advancement of Sciences (KFAS) in collaboration with IE Business School in Madrid. This three-month initiative, overseen by a group of university professors and innovation development experts, aimed to stimulate and enhance the innovative capabilities of private sector institutions.

A team from KFH, comprising Faisal Al Mulla, Faisal Al Mutairat, Mona Baidas, and Yousef Yousef, delivered a comprehensive presentation on their innovative project to KFH Group Chief Executive Officer Khaled Yousif Alshamlan and the executive management. The presentation highlighted the project’s significance, customer value, process streamlining, and implementation challenges.

The project, which utilizes artificial intelligence to improve customer experience across banking sectors, has received recognition and praise from the CEO and executive management, who commended the KFH team`s creativity and innovative ideas.

Group Chief Executive Officer, Khaled Yousif Alshamlan

On this occasion, Group CEO Khaled Yousif Alshamlan congratulated the KFH team participating in the "Innovation Challenge 2024". He commended their innovative ideas, which consistently demonstrate the remarkable capabilities of young Kuwaiti talent within KFH. Their ability to propose novel concepts significantly contributes to enhancing development, improving performance, and elevating the quality of customer service.

Alshamlan added that enabling KFH employees to convert their creative and innovative ideas into tangible results significantly contributes to the bank's success. This initiative boosts morale, strengthens workplace engagement, increases accountability, and empowers them to drive change and address challenges. This will enhance the qualifications of future leaders, enabling them to guide KFH on its continued path to success.

Alshamlan emphasized that KFH is particularly committed to fostering a culture of innovation and development within the bank, making it a core component of the work ecosystem.

Acting Group Chief Human Resources and Transformation Officer - Ahmad Alhammad

Acting Group Chief Human Resources and Transformation Officer at KFH, Ahmad Alhammad said, "Our team's creative capabilities and commitment to unconventional problem-solving, as demonstrated in the "Innovation Challenge 2024", affirm the success of our efforts to attract and retain top talent. We are dedicated to enhancing their skills, refining their potential, and fostering a culture of development within our workforce."

He added, "There is no doubt that KFH`s commitment to participating in such ambitious initiatives, which enhance the ongoing professional development of its employees, positively strengthens the workforce`s skills, thereby supporting KFH`s leading position both locally and globally."

Alhammad emphasized that KFH has successfully established a model for a work environment that prioritizes investment in talent. This has been achieved through various comprehensive initiatives and programs in collaboration with prestigious universities and academic institutions, such as Harvard Business School, INSEAD, IMD, and IE Business School, aimed at developing talent and preparing leaders capable of driving positive change.

The Innovation Culture

KFH annually holds a group-wide innovation competition. All entries undergo a thorough evaluation by a specialized committee, and the top three winners share a $45,000 prize pool. The bank's goal for this competition is to motivate employees and utilize their expertise to develop innovative services and solutions that improve systems and enhance customer experience.