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National Bank of Kuwait (NBK) team concluded its fifth season of the Innovation Challenge Program organized by Kuwait Foundation for the Advancement of Sciences (KFAS) in collaboration with the prestigious University of California Los Angeles (UCLA) Anderson School of Management.
The four-months program, launched by KFAS for the first time in 2015, aims to develop innovative human capabilities in the private sector and foster a culture of creativity and knowledge growth to transform Kuwait's economy into a knowledge-based economy.
NBK team presented its project revolving around innovative banking services after discussing it with NBK top management headed by Mr. Salah Al Fulaij, CEO of NBK Kuwait, Mr. Emad Ahmed Al-Ablani, General Manager, Group Human Resources at NBK, and Mr. Mohamed Al-Othman, General Manager, Consumer Banking Group, as well as a number of NBK executives.
The Innovation Challenge program provides an opportunity to develop participants’ innovation capabilities through developing innovative solutions to challenges faced by banks over the course of their business.
The program focuses on a number of topics including; building a culture of innovation, generating new business models, design thinking and innovation and value proposition design.
The program is centered around real business challenges that each team identifies the areas where they need to innovate. That challenge is explored throughout the program phases and teams apply their learnings on their innovation projects.
Teams work on their innovation challenge with specific deliverables and are required to complete all deliverables in order to participate in the final module which includes a mixture of lectures and site visits to innovative companies.
NBK's strategy is based on continuous innovation and development, which has been reflected in achieving its unique position as a top innovative bank, both locally and regionally. The Bank always strives to maintain its leadership in this field by introducing innovative approaches and further developing its human capital skills through providing creative training programs designed in accordance to the highest standards of excellence, covering both training and skill development to produce highly trained professional staff. NBK attains the best banking experts to share their expertise with NBK employees.
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