Kuwait International Bank K S C P : KIB launches three new digital banking platforms with unique and comprehensive benefits

In adherence to its strategy for the adopting the latest technological advancements in the banking sector

Kuwait, __ 2023:

Kuwait International Bank (KIB) revealed three new, advanced digital platforms in a press conference attended by a select group of the Bank's top managers and employees from across departments. This comes as part of KIB's dedicated strategy for elevating its customers' experience regardless of their market segment, whether the served customers are retail, corporate, or real estate. For corporate customers, the Bank presents its all-new and revamped Corporate Online Banking platform. Meanwhile, real estate customers can enjoy customized services that address their needs using the newly introduced, first-of-its-kind KIB Aqari platform. As for retail customers, they can now enjoy an on-the-go, easy-to-manage banking experience with the upgraded and improved KIB Mobile application. With the unveiling of these three new and improved platforms, KIB confirms its commitment to offering its customers a technologically advanced experience by constantly keeping abreast of the latest in digital banking technologies and adopting innovative solutions that address customers' varied and constantly evolving needs.

Through its three platforms, KIB offers a comprehensive suite of innovative banking solutions that allow customers to digitally manage their transactions and control their financial operations in an easy and safe manner. Such efforts add to KIB's comprehensive, forward-looking digital transformation strides that combine the best in the worlds of banking and business alike, guaranteeing an up-to-date and intuitive experience for all customers.

Reflecting on the new and upgraded platforms, Mohamed Atef El-Shareef, General Manager of the Digital Transformation and Innovation Department at KIB, expressed a genuine sense of pride in the achievements that grew from the KIB Digital Factory. Since its inception, the Digital Factory has been dedicated to the innovation of new, pioneering digital banking services that are designed in accordance with the latest technologies and leading systems with the sole purpose of meeting the needs of all KIB customers, whether retail or corporate.

On this note, El-Shareef commented: "What we are witnessing today is a strategic turning point and a huge leap forward in the realm of digital banking services. It is an honor to see many years of shared dedication and effort culminate in such remarkable success, driving us to continue dedicating our efforts and best talents to advancing our digital offerings that serve KIB's overarching digital transformation strategy."

In addition, El-Shareef attributed this achievement to the joint efforts between KIB's departments in support of the Bank's strategic digital plan that aims to provide the best digital solutions for all customers across all segments. He also thanked the Bank's Board of Directors and the executive staff for supporting this initiative and placing great confidence in the work team, which, in turn, contributed to this notable achievement.

Commenting on the launch of the upgraded KIB Mobile application for retail customers, Othman Tawfeqe, Retail Banking Department General Manager at KIB, said: "We are proud of this unique banking initiative that reflects KIB's essence as a 'Bank for Life' and its commitment to adopting the latest advancements and innovations in the world of retail banking products and services. This, of course, comes as an extension to the Bank's dedicated digital transformation strategy and overall comprehensive strategy for providing customers with an outstanding, integrated banking experience."

Tawfeqe further noted that the revamped KIB Mobile application brings KIB retail customers an elevated portable online banking experience that allows them to remain updated with their financing details and installments schedule, as well as manage their accounts, cards, and investments - all in one place. Tawfeqe also mentioned a number of services and benefits that avail the KIB Mobile application users, including direct access to their wallet, tools that enable them to make quick yet smart decisions, in addition to banking transfers, payment fulfillment, and beneficiary list management.

More benefits are available on KIB Mobile, such as KIBPay, which allows customers to request payments, top up their accounts, and split bills with unparalleled ease. As soon as customers sign up for their KIB Mobile account, they can instantly benefit from Kuwait's top digital rewards program, which turns users' transactions and shopping purchases into redeemable points that can be exchanged for a wide range of gifts, including electronics, coupons, travel tickets, and so much more.

On his part, Hesham Al-Mubaraki, Wholesale Banking General Manager at KIB, commented on KIB's revamped Corporate Online Banking platform, saying: "We have all been eagerly waiting for the upgrade of this platform, which marks a quantum leap in the field of corporate banking services. Among its multiple benefits, the KIB Corporate Online Banking platform contributes to saving customers' precious time and effort through its comprehensive suite of innovative, simplified, and easy-to-use services. Similar to many previous KIB innovations, this platform is proof of the Bank's unwavering commitment to its corporate customers whom we continuously strive to provide with the most efficient, most trusted, and best-tailored banking experience. With the launch of every novel, state-of-the-art platform, KIB takes yet another step closer to innovations that raise the bar for the entire sector and that answer to the corporate customers' needs and aspirations in a brand-new way."

Al-Mubaraki clarified that KIB's Corporate Online Banking platform is designed to enable the Bank's corporate customers to manage all of their employees' banking operations as well as control the finest financial details with ease and precision. This is made possible thanks to the platform's various features, including platform personalization, which allows users to customize the platform based on their roles and responsibilities within their organization, giving them access only to the tools and features that assist them in their day-to-day operations for focused efforts and higher productivity. The platform also allows customers to place and redirect requests to designated team members, which ensures a more streamlined process with minimal to no delays.

Other remarkable features include the platform's tracking dashboard, which allows users to track all of their bank interactions in one place, in addition to the POS dashboard, through which customers can get a holistic, birds-eye view of their business's financial operations as carried out using point-of-sale (POS), MasterCard, Visa, or KNet. The platform also allows customers to enjoy ultimate privacy and security while reviewing confidential data, thanks to the "Hide Amount" feature. Last but not least, the platform offers customers an advanced salary portal that enables them to streamline their business's payroll system for an all-around smooth experience.

Meanwhile, Jassem Al-Abdulhadi, General Manager of the Real Estate Department at KIB, commented on the newly-launched digital platform, KIB Aqari, saying: "Time and time again, KIB proves its ability to surpass all expectations. And here we are today, celebrating a first-of-its-kind achievement in the world of digital banking products and services, confirming KIB's market leadership and forward-looking culture that continues to grow toward sustainable development. It serves to note that KIB's driving values and strategic vision also play a huge role in its ability to remain abreast of the market's fast-paced technological advancements and to adapt new trends to the local market's unique needs."

Al-Abdulhadi described KIB Aqari as a one-stop-shop for real estate-related needs, whereby customers can enjoy a wide range of real estate services and innovative solutions. Among the multiple outstanding features available on KIB Aqari are the appraisal request and follow-up features, now available digitally for the first time in Kuwait. The platform also enables customers to verify KIB appraisal reports by simply scanning a QR code. Other real estate-specific features include automated rent collection and late payments tracking, in addition to other services that add a unique layer of convenience to customers' real estate management experiences.

It serves to note that KIB strives to continue offering its customers an unparalleled digital banking experience that responds to their unique needs, empowering them to succeed and aspire for bigger dreams. As a 'Bank for Life', KIB proceeds with confidence toward a future of innovations and technological advancements, as guided by the Bank's encompassing strategy that puts the customer at the heart of all considerations and decisions, big or small, guaranteeing noteworthy achievements for the Bank and its clients alike.