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Al-Othman: The success of our digital transformation strategy strengthens our leadership and excellence as a provider of payment solutions and digital services
We are keen to communicate with our customers to identify their needs using the latest data analytics
We are investing heavily in enhancing NBK Mobile Banking App, regarding it as our largest branch
The huge technological infrastructure is the key pillar of our digital excellence
National Bank of Kuwait (NBK) maintains a leading position and obvious superiority as a provider of the most advanced digital services in the region. In this context, the bank has won the “Innovation in Digital Banking” Award in the Middle East in The Banker international magazine’s annual survey.
The “Innovation in Digital Banking” Award recognizes the outstanding efforts made by institutions in the area of innovation and digital technology, with a focus on digital initiatives demonstrating banks’ progress achieved in innovation and digital transformation.
The initiatives and efforts of all participating institutions are evaluated in seven categories: innovative mobile banking, advanced digital payment solutions, data analytics, artificial intelligence (AI) and robotics, cybersecurity, financial inclusion initiatives, and open banking.
NBK outperformed its peers in 4 categories namely mobile banking, data analytics, AI and robotics, and digital payment solutions.
The initiatives of the participating banks are evaluated by an independent panel of judges comprising a group of experts and specialists in banking and technology ranging from analysts, executives and academics.
On this occasion, Mr. Mohamed Al-Othman, GM- Consumer Banking Group at National Bank of Kuwait said: “The current crisis has brought about radical changes in the banking industry. At NBK, we were fully prepared for these transformations, thanks to our digital transformation strategy, which contributed to strengthen our leadership and excellence as a provider of advanced digital services and payment solutions.”
“Our digital channels are seeing a massive demand from our customers, who have become highly dependent on them for their transactions, in view of the services we provide and continuous enhancements made to meet their needs, as well as our keenness to communicate with them to identify these needs using the latest data analytics methods.”
Al-Othman indicated that NBK was proactive and ahead of peers in providing cutting-edge payment solutions in the market, mentioning: “A few weeks before the crisis, we had successfully launched Garmin Pay and Fitbit Pay early last year, and before the end of the year, we launched Samsung Pay¾ all first introduced in Kuwait by NBK.”
On the excellence in mobile banking, Al-Othman said: “We regard NBK Mobile Banking App as our largest branch, and we are investing heavily in making continuous enhancements to it.”
Al-Othman accentuated that NBK succeeded in intensive robotic automation of its operations over the past period, thus boosting its capabilities and huge technological infrastructure, which is the key pillar for its digital banking excellence.
NBK Mobile Banking App provides a secure platform to manage money easily, at any time, allowing customers to make various banking transactions, pay for their purchases, view offers and discounts while shopping, in addition to other enhancements and new services that are regularly introduced in the app.
The Banker is a UK-based Financial Times publication founded in 1926. It is one of the most reputable financial intelligence magazines that conducts surveys to select and recognize top performing and leading banks and financial institutions in 120 countries around the world.
Key indicators of NBK Digital Channels:
• MOB Transaction Growth – YoY – 57% (YTD June ‘21)
• Quick pay Transaction growth – 90% (SPLY Jun ‘21)
• MOB active user Growth – 27% (SPLY Jun ‘21)
• Penetration of mobile in overall Transactions – 41% (June ’21)
• Penetration of Self service channels – 97% (June ’21)
For more information about The Banker’s “Innovation in Digital Banking” Award in the Middle East 2021, please visit:
https://www.thebanker.com/Awards/Innovation-in-Digital-Banking-Awards
© Press Release 2021
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