ShareExclusively in Kuwaiti banking sector through its digital infrastructure
KUWAIT: At its press conference held yesterday, Warba Bank, the best corporate and investment bank in Kuwait, launched its latest digital financing solution, "Express Financing", through which both Warba Bank customers and non-customers, who wish to obtain personal finance, can apply using the bank's digital platforms without having to visit any of the branches through a fully automated process that saves time and efforts for the customers and the Bank alike.
The press conference was attended by a wide range of the Kuwaiti newspaper reporters and representatives of the Bank's Management headed by Shaheen Hamed Al-Ghanem, Chief Executive Officer, the Bank's spokesman gave an account of this new exclusive service and explained that it would enable those wishing to obtain personal finance to apply through an easy, time-saving, five-step process.
In the first step, the applicant answers personal questions, including the personal identification number and telephone number. The Bank sends a text message to the phone number of the concerned applicant with an activation code to be entered on the screen in order to validate and authenticate the information provided. Then, in step two, the applicant will determine the type of personal finance needed. In step three, the applicant is redirected to a page containing the amount applied for, the number of the monthly installments, as well as the repayment period of the due amounts. In the fourth step, the applicant will attach the necessary documents for completion of the application such as a copy of the ID, upload a personal video to ensure that it matches the identity of the applicant, a copy of bank account statement for the last six months, and a salary certificate. Finally, the applicant signs and agrees on the personal finance terms and conditions. Upon completion of these five steps, the Bank will send an electronic link to the applicant's smartphone so that the applicant can obtain copy of the draft contract copy, review the contract and details of the personal finance and follow up the application and see if it is under study, approved or rejected or if the applicant needs to visit one of the bank's branches to complete some paperwork in accordance with the conditions required to obtain personal finance. After getting the approval, the applicant will visit the branch to complete the process of obtaining personal finance.
In addition to speed and ease, this new service provides the highest level of protection for the customers' information provided online. The latest information security standards are applied to match the photo of the person on ID card with the selfie photo taken by the smartphone. Moreover, the applicant will be required to make electronic signature so as to verify and validate the information provided. Commenting on the new service, Alghanem said: "Warba Bank has recently focused its efforts on creating new banking services and solutions that are tailored to the needs of our customers and are in line with the spirit of times in which we rely heavily on modern technology in our every-day lives."
"At the beginning of the year, we launched a service for new customers allowing them to fully open an account without having to visit any of our branches. Now, we add our personal finance application through digital platforms so that we can meet all our customers' needs in a safe, efficient and rapid manner, thus expanding our exclusive digital banking services in the Kuwaiti banking sector. This simply reflects our commitment to achieving our vision of providing advanced digital services to individuals that focus on speed, easiness and flexibility in all banking transactions," he added.
Warba Bank has doubled its efforts by injecting necessary investments to enhance its digital infrastructure at international levels, by which the Bank ensures that its digital services are designed to meet customers' expectations and aspirations, saving both time and efforts. Today, Warba Bank's customers can directly complete their banking transactions through the Warba online App. The Bank's interactive website that undergone major enhancements to become a flexible electronic branch that easily responds to customers' requests. In addition, the Bank's application for smartphones (Warba App.) has proven to be a great success; it is heavily used by customers. It enables them to quickly carry out a series of unique banking services without having to visit a branch, turning these deals into a quick and enjoyable banking experience, away from the monotonous paperwork.
The Bank's approach in developing its digital services infrastructure is exemplary, given the high technology and sophistication it applies to provide customers with a distinctive banking experience. A good example of this is the Bank's latest service launched in late 2017, the "Express Bank", an interactive electronic branch that enables customers to easily manage their banking operations. In addition, the Bank has launched a series of digital services recently under the name "Express", including: Express Bill, and Express Call, Express Eidiyah, Express Finance, Express Share, Express Transfer, Express Salary and Skip Services and many more. The Apple Watch allows customers to view and follow up their accounts and operations performed via banking cards through the Android and Apple Watch.
