NBK Capital showcases digital revolution in the banking industry

Rasbeih: “Through SmartWealth technology we are able to provide investment solutions to every segment of the Kuwaiti community.”

Al-Bader: “SmartWealth enables end users to invest worldwide in multi-asset accounts.”

Attended by financial institutions and international banking industry experts from around the world, NBK Capital took part in Global Finance’s 2018 Digital Bank and Innovators Conference held for the first time in the Middle East and North Africa region.

Hosted in Dubai on September, the Conference highlighted key trends such as the future of digital banking in the Middle East, the digital revolution in customer service, the culture of innovation in the region, technology and innovation in the banking sector, and the bank of the Future.

NBK Capital’s Head of Structured Investments and Advisory, Hazem Rasbeih, and Financial Technology Sector Vice President, Fahad Al-Bader, both participated in the discussions during the Conference, speaking of technology and digital solutions and the role of companies and banks in embracing these trends and changes to deliver better services to customers online.

Both participants showcased recent examples of interest in digital transformation, the revolution it brings to customer experience and the reasons for the success of such excellent solutions. Among the topics discussed in the Conference were the development of real-time payment methods, open banking services and the impact of technology in banking advisory services, “omni” channel platforms, big data and social media.

During the 2018 Digital Bank and Innovators Conference, Hazem Rasbeih, , highlighted the SmartWealth service launched by the Company to enable every segment of society to efficiently invest in diversified accounts across the globe. The service provides a fast and easy registration process with a timeline of up to two days to open an account. It is also entirely digitized with remarkably low fees. These features, in addition to other advantages, have made the platform an ideal choice for customers who want to save to achieve their long-term goals such as buying a home or save for college tuition for their children, mainly attracting young professionals.

"We spent a considerable amount of time designing the SmartWealth platform to ensure ease of use with the least number of clicks required from accessing the site to opening an account," said Rasbeih.

Rasbeih said, "SmartWealth is indeed a digital service, but its core strength lies in the quality of the investment advice and execution it provides.” He added that NBK Capital has developed a relationship management portal to allow customers who prefer human interaction to open an account through NBK’s branches. These customers can still benefit from our investment solutions while maintaining human interaction through an assigned relationship manager who will guide them through the steps of investing with SmartWealth.

In terms of the broader wealth management industry, Rasbeih ruled out that human interaction would completely disappear. However, he pointed out that digital transformation and automation will spread from the back office, through the middle office to front line operations, adding that it will be difficult to determine with a high level of certainty which areas and sub-sectors will see the most significant changes within the next five to ten years. However, Rasbeih highlighted that mega trends such as increasing transparency, efficiency, and control and reducing costs will prevail and. technology will be the enabler.

In his part, Fahd Al-Rasheed Al-Bader, , said, “NBK Capital believes that the investment tools and strong investment practices in the industry require new ways to enhance the relationship between the bank and the investment company on one side and their customers on the other. This is achieved by providing better solutions employing modern infrastructures, best practices and the expertise of specialists, and providing these features at the lowest cost possible for every segments."

"NBK Capital achieves this combination by designing and developing infrastructures and technologically-driven services. Following this step, we work closely with our colleagues to ensure that these features are properly maintained and continuously improved for the benefit of end users."

Al-Bader said that SmartWealth provides end users with the ability to invest worldwide in multi-asset accounts. The service also gives customers the flexibility to invest periodically and withdraw when they want without having to pay any penalties whether partially or fully.

The service also enables customization of products according to needs, requirements, and financial objectives. Finally, this service and others were designed to provide best in class

knowledge and experiences in the investment industry to ultimately benefit end users. He further added that these features are all combined in one easy-to-use platform by using technological applications on websites or smartphones.

Speaking of the financial services industry amidst technological development, Al-Bader said: "As it revolutionized the hospitality, transport and even banking industries, technology will revolutionize how people behave with savings and planning, allowing them to develop and manage their own plans, efficiently and effortlessly. As for ultra-high net worth investors (UHNW) who want to plan their wealth for the benefit of their family and children, or professional investors who have very specific goals such as buying a home, or the segment of investors who are not financially sensitive and are looking for peace of mind, the technology simply has the ability to show the best that both service providers and consumers can achieve."

NBK Capital’s SmartWealth service allows all segments of customers to invest in foreign markets, meet various investment and savings needs in a way that was not previously available. Through the service, investors can have an account that is diversified geographically across multiple asset classes and designed according to the recommendations of international investment experts, providing them with solutions that enable them to manage their own investments with the most advanced and safe technology, while keeping an eye on risks.

For customers and investors who want to learn more about the features and investment risks presented by SmartWealth, please visit www.nbkcapitalsmartwealth.com.

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For more info, please contact Media Relations Manager Ms. Safa’a Al Matari on:

Telephone: 2259-2789

Mobile: 9766-0001

Email: SafaELMatari@nbk.com;

Email 2: NBKMediaRelations@nbk.com

© Press Release 2018