Service at all Boubyan ATMs and POS machines - For first time in GCC

KUWAIT: Khalid Al-Shammiri, Abdulla Al-Najran Al-Tuwaijri, and Hossam Zahda.

KUWAIT: Once again, Boubyan Bank emphasizes its leadership in the digital banking market by launching the UTap technology across all service levels, whether through ATMs or P.O.S. machines at stores and showrooms, for the first time across the GCC banks. The technology is known internationally as (Near Field Communication "NFC") where a customer waves his banking card near the P.O.S. machine or the ATM, which will identify all the information and process the payment/withdrawal transaction within seconds by tapping the card on the ATM/P.O.S. machine and entering the PIN.

Abdulla Al-Najran Al-Tuwaijri, Deputy Chief Executive Officer, stated: "Currently, all the bank's cards are equipped with this technology, making it easier to use them. It is sufficient to wave the card near the P.O.S. machine or the ATM in order to identify the card's data and information in a secure and encrypted manner after entering the PIN and then the debit or withdrawal transaction is completed. This way is easier compared with the current method where the card is inserted into the P.O.S./ATM in order to read the data through the smart chip."

Speaking of the most significant advantages of the service, Al-Tuwaijri added: "It is easier in terms of use and you may access your information and complete your debit transactions swiftly. Furthermore, the service maintains the highest security standards, and one can imagine the speed and flexibility this payment method will add to our daily life in addition to the various ways where we can benefit from such a significant development."

Khalid Al-Shammiri, Boubyan Bank's Executive Manager - Direct Banking Channels, said that in addition to the ease of use those new cards enjoyed, the new cards enjoyed the highest approved security standards in addition to maintaining the confidentiality of information.

Al-Shammiri added: "This type of technology is now commonly used in a number of countries around the globe. However, in Boubyan Bank we take pride that our customer are not only the first to benefit from such a technology in Kuwait but also the first to do so across the GCC region. Our cards are the only GCC cards to use such a technology for both ATMs & P.O.S. machines."

Boubyan Bank customers may now replace their existing cards, banking or credit cards, with the new ones from any branch without any additional fees. Meanwhile, all new cards will be equipped with such a technology.

K-net, NCR & Boubyan Bank -  Continuous Cooperation

Al-Tuwaijri extended his thanks to the Shared Electronic Banking Services Company (K-net) stating that such a step made by Boubyan Bank in cooperation with K-net represented a qualitative leap in the state of Kuwait in terms of using both the ATMs & P.O.S. machines due to the speed of use provided by the service as well as saving time and effort in addition to enjoying the highest security standards.

"K-net is saving no effort in cooperating with local banks to provide the local market with advanced services and products which put Kuwaiti banks in the leadership position on the GCC level.", he added.

Al-Tuwaijri also thanked NCR, the international company, for the services it provided to the Kuwaiti market. In this context, Hossam Zahda, General Manager of NCR's Kuwait Office, stated: "By cooperating with NCR, Boubyan's involvement in digital banking services will have a positive effect on the bank's customers who will feel the difference with time, especially that such services save a lot of time and effort."

Zahda went on to praise the cooperation with Boubyan Bank during the past years, adding: "Such a cooperation resulted in a number of remarkable banking products and services distinguished by their high technology. The bank's customers always benefitted greatly from such services, especially the new one launched by Boubyan Bank in cooperation with NCR for the first time across the GCC region."

The World's Best Islamic Digital Bank

On the other hand, Al-Tuwaijri dwelt on Boubyan Bank's receipt of the World's Best Islamic Digital Bank Award for the second year in a row from the Global Finance Magazine in addition to being named the Best Islamic Digital Bank in Kuwait.

The Global Finance Magazine named the international winning banks where CitiBank received the World's Best Corporate/Institutional Digital Bank Award and Standard Chartered received the World's Best Consumer Digital Bank Award while Boubyan Bank was crowned as the World's Best Islamic Digital Bank.