KFH Pioneer in adopting technology & launching innovative solutions
Kuwait: Kuwait Finance House (KFH) has launched, as the first bank in Kuwait, Live FX service, which provides live dynamic foreign exchange prices with favorable margins 24 hours a day, every weekday.
The Live FX service is an innovative solution based on technology in the electronic foreign exchange markets, where customers are able to purchase and sell TRY and G7 currencies at favorable margins, day and night, through KFHonline on the website or the mobile app.
“While the banking sector widens the foreign exchange rate margins which it applies in its internet and mobile application during non-working hours, KFH provided the high-end Live FX service to create a solution to the problem of high foreign exchange margins outside of working hours due to lack of live pricing and smart hedging systems,” said KFH Treasury General Manager Ahmad Alsumait, indicating this unique solution is a reflection of the bank's experience, know-how and expertise on managing currency exposure and fintech solutions in the foreign exchange markets.
Alsumait pointed out “Our innovative, dynamic and powerful Treasury and information technologies team with global infrastructure solution partners play an important role in realizing all these sophisticated fin-tech products and solutions. We are constantly working to provide better service to our customers, reiterating the bank’s innovations will continue”.
He underlined the importance of this service as a qualitative leap in the method of moving forward in the digital transformation strategy of KFH, illustrating that the Live FX is a pioneering technological service that carries multiple advantages, flexibility and permanent possibilities for development, in a way that serves the interest of customers and enhances their banking experience.
© Press Release 2021