Warba Bank activates e-signature services & unveils ‘Express Finance’ Warba Bank activates e-signature services & unveils ‘Express Finance’

KUWAIT: Warba Bank announced, during a press conference, the signing of a cooperation agreement with the Public Authority for Civil Information to activate the e-signature service for the bank's staff and the banking services it provides. The bank also announced the release of a unique and exclusive service called "Express Finance" which came as a result of this agreement. It allows clients to authorize the bank through the e-signature to view their information in the credit network (Ci-net) without having to be present personally in the branch. As a result, Warba Bank has taken the extra mile to be the first bank in Kuwait that releases services based on this technology, thus adding to its list of leading achievements.

The e-signature is considered a person's electronic identity. It represents a digital certificate that allows for him to confirm his identity through online transactions. Based on that, Warba Bank released this leading agreement in the field of information technology, which is provided by the Public Authority for Civil Information, and helps save time and effort in performing banking transactions and procedures.

The e-signature can be used in confirming the person's identity online when accessing personal data, in addition to finishing online transactions with security for personal data without having to go to the bank. The e-signature is also used to sign most online documents such as contracts, agreements and transactions, with the option to encrypt them. It also can be used to sign e-mails in order to confirm the sender's identity.

Commenting on the agreement, Shaheen Hamad Al-Ghanem, Warba Bank's CEO said: "We are glad to cooperate with the Public Authority for Civil Information to activate the e-signature for staff and banking transactions by using smart IDs and digital certificates. Based on this agreement, we are proud to be the first in Kuwait's banking sector to have the initiative to present an innovative service, which is the "Express Finance" that is based on the e-signature service."

Faster than before

"This service allows the client to authorize the bank through the e-signature to view his information on Ci-net without having to be personally present to sign the application. With this service, financing transactions can be done faster than before, and require less number of visits to the bank's branches to complete the transaction," he noted.

Al-Ghanim further explained that those who desire to obtain financing from Warba Bank can visit the bank's website, click on the "Express Finance" page and fill in the required information. The client will then be transferred to a gateway to the Public Authority for Civil Information's website in which his personal information are confirmed, and where he can perform his e-signature on the application.

Meanwhile, Musa'ed Mahmoud Al-Asousi, General Director of the Public Authority for Civil Information said: "This cooperation with Warba Bank comes as part of efforts to improve electronic connection between the public and private sectors, and the transformation towards electronic transactions." Al-Asousi also noted to the efforts exerted by the Public Authority for Civil Information and Warba Bank to remove all obstacles in order to finish this step. He emphasized that his cooperation can help provide extra benefit to a larger number of clients, and save them the need of visiting the branch to finish their transactions. This also helps reduce pressure on branches and improve service quality there.

Al- Asousi elaborated that PACI welcomes all cooperation meant to facilitate the transactions in both public and private sectors according to law number 20 for 2014 with relevance to electronic transactions which states in its 23rd clause that PACI is to handle the surveillance on the e signature infrastructure design and management for the nation of Kuwait. All authorized entities are committed to coordinate with PACI according to its terms and conditions which have been elaborated in collaboration with specialized entities in this regards. Clients can obtain the e-signature by visiting the e-signature registration office at the head office of the Public Authority for Civil Information, where they can sign the e-signature use agreement before the e-signature certificate is uploaded to their civil ID with a password.

Warba Bank strives to improve its electronic services, as it recently upgraded its interactive and easy to use website. It also revealed the Express Account service, the first of its kind of Kuwait, which allows clients to open an account online within five minutes without having to visit the branch. The bank also plans to activate the e-signature service in this service in order to save time and effort in finishing banking transactions. The bank continues its approach in development by being a pioneer in presenting innovative and unique service and products that establish a new era for the Islamic banking sector characterized by modernity, flexibility and innovating while complying with the Islamic Sharia.