As part of its endeavors to lead the digital transformation sphere in the banking sector, Kuwait Finance House (KFH) continues to launch high-quality digital financial services and solutions, enhancing its technological infrastructure, and improving the means of providing technical assistance to KFH customers through different platforms, smart branches and self-service machines.

KFH is striving to capitalize on the swift advancements in Artificial Intelligence, Data Engineering, Fintech, E-marketing, and Digital Product Design and stringent cybersecurity protocols. Ultimately, KFH succeeded in converting many processes and functions from the manual system to the automated system using the Robotic Process Automation (RPA) application. The use of this technology increases better utilization of resources, enhances production efficiency, reduces service time for customers, achieves their satisfaction, deepens their confidence, and enhances their banking experience.

Additionally, KFHonline (available through both a mobile app and website) offers over 200 services, whereas XTM devices and KFH Go smart branches offer around 50 different services. Accordingly, the customer has the option to choose between around 250 e-services offered through apps and other various means.

 KFH services also include e-payment solutions, online account opening, instant card printing, selling and buying gold in addition to the many branchless banking transactions.

KFH also launched a new digital service called (WAMD). This service allows customers to send and receive money instantly and for free using their mobile numbers, 24/7.

KFH has succeeded in opening accounts for new customers through digital vending machines. This was made possible by the first mobile device in the market called D-POS, which allows new customers to open accounts on KFH systems instantly and from any location.

KFH also facilitated the exchange of credit and prepaid cards for KFH customers within 3 minutes using instant card issuance machines. Furthermore, it launched the first corporate mobile banking which provides five essential services to support their business. The Bank has also successfully implemented facial recognition technology based on biometric identity in its branches.

KFH customers can open a foreign currency account via KFH Online, which was previously only possible in branches. Also, KFH collaborated with Western Union to offer co-branded international money transfer services through the KFHOnline app. KFH also offers instant transfer service to the GCC countries through AFAQ network.

Customers are now able to open foreign currency savings accounts through KFH Online.

Moreover, KFH offers its customers several banking card services, allowing its customers to temporarily suspend and deactivate their cards and view their Baitak Rewards Program points through KFHonline app. The Bank has also made progress in updating customer’s Civil ID and authentication without the use of a physical card. Customers can transfer their funds from their prepaid card to their personal bank account. In addition, KFH customers who have an additional family card can now control the additional card’s limits.

The launch of Zaheb, a digital payment platform for businesses, has enhanced KFH’s relationship with companies, and allowed corporate customers to easily pay by generating payment links and QR codes, eliminating the need for POS devices.

KFH also introduced three new debit card products with various features specifically designed for corporate customers for government use. One of these cards is issued with limited acceptance only on government KNET POS/PG terminals. This card has received positive feedback and attracted the interest of merchants.