KUWAIT: Kuwait Finance House “KFH” inaugurated in Ishbiliya Co-op its first fully-automated 24/7 e-branch with an advanced and wide range of technical devices and self-service instruments. The branch is regarded as a fundamental shift in the image of bank branches towards more convenience, simplicity and speed for Customers. It is also a first step towards the expansion of similar branches as part of an ambitious futuristic plan set up by the bank under the mantra ” KFH-GO: Digital Self-Banking Station”.
The automated branch boasts a variety of devices to provide the whole portfolio of 24/7 e-banking services. At the opening of the state-of-the-art e-branch, in the presence of KFH-Group CEO, Mazin Saad Al-Nahedh and the executive management, Group Chief Retail and Private Banking Officer at KFH, Waleed Khaled Mandani said that the new automated branch is an advanced step that represents clearly the achievements of KFH in diversifying retail banking services and is a new self-banking channel to deliver better and more effective Customer experience via an innovative automated branch. This reiterates KFH drive to lead the market in the field of FinTech and enhance its leadership in the Islamic financial services. He pointed out that the smart e-branch “KFH-Go” offers the customers round the clock services covering the vast majority of the services and transactions provided by traditional branches, hence making it the preferred choice for many customer sections particularly the youth.
Mandani added that the new e-branch is not permanently staffed and contains state-of-the-art XTMs and ATMs as well as two cash deposit machines (Bulk Deposit) each capable of accepting 300 notes in a single transaction with the capability of communicating directly with the telephone service personnel in audio and video calls via XTM machines. Customers can access more than 30 services, including cash withdrawals without a card through the mobile phone using the “QR code”, IDs or phone number, as well as conducting “Murabaha” business transactions, requesting credit cards and prepaid cards, updating data and phone numbers, activating bank cards, opening deposits and accounts and a host of banking and financing services, therefore dispensing with the need to visit the branch or deal directly with the staff. This means more fluidity in accessing our services quickly, safely and accurately.
Mandani stressed that launching the branch would help achieve a seamless quality of service and a broader scope for gaining customer satisfaction and enriching the concept of advanced banking experience that meets the increasing needs of KFH customers. He pointed out that the bank plans to expand similar e-branches by mid-2019. In view of the anticipated great demand on the branch services, KFH will continue to improve the efficiency of the implemented technologies, raise the e-systems to international standards and expand interactive services such as instant printing of ATM cards and cheques, receiving gold biscuits, given that KFH caters for the largest customer base in the market through various channels such as the branches, ATM withdrawal and deposit machines, retail outlets and Internet and mobile banking services which make the new branch a vital link in a chain of the best and latest technical tools and instruments.
Mandani added,” This branch is a qualitative leap in the era of digital self-banking, which is based on direct interaction between the customer and advanced machines and platforms. We are working to cover new areas through digital branches. Starting with Ishbiliya branch, we carefully chose the area due to its location in the center of many areas, as well as the distinctive nature of its inhabitants, where the advantage of accessibility of the branch is a factor in the choice of place”.
“With activating the role of digital banking, KFH aims to expand its customer base, meet the expectations of current customers, improve their experience as well as provide integrated and new banking services. E-services also reduce costs, increase efficiency and quality, providing KFH with an advantage that enhances its competitive position and qualifies”, Mandani said.
Through the self-banking branch, the first of its kind in Kuwait, with the design, performance and density of the devices and services levels, customers can process dozens of transactions with no need to visit the branch. The self-banking unit services include opening a second account, setting up a business or deposit, request a debit/credit card, update phone/mobile number, update data and cash withdrawal without a card (cardless withdrawal) or through a mobile number as well as dozens of other banking transactions. Also, the new branch includes XTM device and Shamel ATM machine and four ATM machines, two for cash withdrawals and two for bulk cash deposits.