NBK officially launches Swift payment controls

The latest smart solution that helps in mitigating fraudulent attacks, stopping high-risk payments in addition to enhancing security level

  
NBK officially launches Swift payment controls
  • Al-Kharafi: NBK always leads the way in adopting the latest payment technologies and services
  • The bank has injected large investments over the past years to upgrade its payment systems infrastructure
  • We keep pace with the latest financial technologies to provide high quality services to our customers
  • We constantly explore new trends to improve the quality of our banking services

National Bank of Kuwait (NBK) has officially launched SWIFT Payment Controls, which is the latest smart solution that helps in mitigating fraudulent attacks, stopping high-risk payments in addition to enhancing security level, thanks to its unique alert and reporting capabilities.

SWIFT Payment Controls which was implemented in NBK-Kuwait and overseas branches will provide controls including real-time alerting and blocking of sent payments to detect and prevent high-risk payments, as well as providing protection by blocking suspicious payments and daily reporting of transaction status and recovery.

On this occasion, Mr. Mohammad Al-Kharafi, General Manager, Head of Group Operations at National Bank of Kuwait said: “NBK always leads the way in adopting the latest innovations in financial technology with the aim of providing high quality service to its customers.”

“SWIFT Payment Controls is one of the most advanced solutions that will help enhance NBK’s competitive edge in the payment systems domain, thanks to its capabilities in providing real-time monitoring of payments and taking instant action to stop fraudulent transactions,” he noted.

Al-Kharafi highlighted that, in line with its digital transformation strategy, NBK has made large investments over the past years to upgrade its payment and transfer systems. It is also the first bank to introduce the latest technologies in the area of instant payments and transfers in Kuwait, including tracking transfers on its digital channels: NBK Mobile Banking, NBK Online Banking and NBK Online Corporate Banking, enabling customers to check the status of their transfers online in quick and secure way.

“As part of the consistent strides to align with the key pivots of the bank’s digital transformation strategy, we constantly explore new trends in the area of banking technology to improve the quality of our banking services. Now, we are reaping the fruits of these efforts as the bank has succeeded in changing landscape of the digital payment solutions in Kuwait by providing a wide range of advanced payment solutions,” he elaborated.

Al-Kharafi concluded by praising the efforts of the bank’s team who worked to ensure the successful implementation of this service in a smooth and highly efficient way, despite the challenging circumstances posed by the pandemic.

It is worth mentioning that in 2021, National Bank of Kuwait received a number of Global Finance Magazine’s annual awards for Kuwait in recognition of its excellence as a provider of innovative, advanced payment solutions.

-Ends-

Send us your press releases to pressrelease.zawya@refinitiv.com

© Press Release 2021

Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.

The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.

To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.


More From Press Releases