|08 September, 2019

KFH, Xpress Money Celebrate Successful Launch of "KFH Xpress" for instant cross-border money transfer

This innovative service was launched in line with KFH's commitment to continually enhance its customers' banking experience by introducing new financial solutions while keeping up with the rising bar of quality

KFH, Xpress Money Celebrate Successful Launch of KFH Xpress for instant cross-border money transfer

Kuwait Finance House (KFH) and global money transfer organization, Xpress Money, a Finablr company, are celebrating the successful launch and execution of KFH Xpress service for instant cross-border money transfer. This partnership is facilitated by Xpress Money’s business solution – FLEX. This innovative service was launched in line with KFH’s commitment to continually enhance its customers’ banking experience by introducing new financial solutions while keeping up with the rising bar of quality.

Present at the ceremony from KFH were Group General Manager Retail Banking- Fadi Chalouhi, General Manager Private Banking- Abdullah AlMejhem, Group Deputy General Manager Products- Mohamed Ghandour, Executive Manager Liabilities and Investments Products- Nehal Almosalem, along with Xpress Money senior officials headed by Sudhesh Giriyan – CEO, Prasad Katta - Vice President – Digital (Flex) Business, Vivek Menon – Marketing Director (MENASA) and Gautam Kanjilal – Head- Banking & Key Partnerships. 

KFH and Xpress Money discussed the successful partnership and strategized on ways to strengthen the collaboration with the aim of delivering unique banking and payment solutions that meet customer expectations.

On the sidelines of the ceremony, Chalouhi said KFH Xpress service confirms KFH is on track of its digital transformation strategy, emphasizing the keenness of strengthening the leadership position as the best digital financial services provider. 

Chalouhi added: “KFH Xpress for money transfer, is convenient, affordable, accessible and secure. It is offered by KFH to its customers in collaboration with Xpress Money, one of the most dependable international money transfer organizations. Customers can transfer money anywhere, anytime by using KFHonline on the website or via mobile application.” 

He mentioned that KFH ensured the availability of a variety of options for customers to receive money; cash pick up, transfer to a bank account, or even get it door delivered “for selected countries”. 

Meanwhile, Group Deputy General Manager Products- Mohamed Ghandour confirmed KFH Xpress service has witnessed high demand from Kuwaiti and expat customers, since it has a competitive transfer rate if compared to the other money transfer companies in Kuwait. The service is designed and structured as per regulatory considerations and regulations and in accordance with highest standards of service quality.

Ghandour added that the service is available for customers to transfer money to beneficiaries in more than 80 countries around the world. 

Meanwhile, Sudhesh Giriyan- CEO, Xpress Money said, “Remittances from Kuwait increased by 23% in the first half of 2019 as compared to the previous year reinforcing the demand for seamless money transfer services in the country. Our partnership with KFH, one of the pioneers in the world of Islamic banking is a step in the right direction within the ambit of remittances. With customer centricity being at the core of both the organizations involved, I am certain that customers will enjoy the convenience of the services that this partnership offers. This collaboration holds immense growth potential for all stakeholders involved and we look forward to a fruitful alliance.”

KHF Xpress is facilitated by Xpress Money FLEX platform, a flexible and compatible solution available to businesses seeking to venture into the remittance industry. Xpress Money has consistently focused on developing partnerships that bring new money transfer channels to customers. 

Chalouhi said that KFH had made significant strides with its digital transformation journey, drawing attention to its advanced and innovative financial services and products. This includes in addition to KFH Xpress, instant financial transfers service using RippleNet network, Mobile Deposit of Cheques that enables quick deposit of cheques in a fast and efficient way to customers’ accounts, the queuing system Skiplino for booking appointments electronically in bank branches, opening several KFH-Go self-banking stations, cash withdrawals via mobile using QR code, Civil ID or mobile number, KFH Pay service for electronic payments, Robotics Process Automation, Artificial-Intelligence-driven Chatbot, KFH Pass that allows customers to postpone the one of their installment payments online, and many other digital services.

-Ends-

Kuwait Finance House (KFH
KFH was established in Kuwait in 1977 and is enlisted in the Kuwait Stock Exchange. KFH Group is a global pioneer in the field of Islamic banking services, where it offers a wide array of Islamic financial products and services, not to mention a high standard of innovation and customer service.
KFH manages its operations in the GCC, Asia, and Europe through over 504 branches, including KFH-Turkey, to offer services for the bank's customers in Turkey, Malaysia, Saudi Arabia, Bahrain, Germany, and the UAE.
KFH's mission is to achieve highest levels of excellence and innovation in the field of customer service, while developing common interest for all those concerned with the financial institution. KFH's vision is to spearhead the global development in Islamic financial services, and to upgrade the bank into the level of becoming the most sustainable profitable Islamic bank in the world.
KFH's values include cementing leadership through all its businesses, including leadership in the Islamic banking services worldwide, through innovation, superior customer service and the development of its employees. In addition, KFH is committed to all its procedures, and to setting up long-life partnerships with the concerned authorities.
For more information, please visit: www.kfh.com 

About ‘Xpress Money’:
Incorporated in 1999, ‘Xpress Money’ is a global money transfer brand with a thriving presence in more than 170 countries across the globe through partnerships that have a network of over 200,000 locations. It is one of the most dependable and renowned international money transfer brands across the globe. ‘Xpress Money’ provides customers convenient, simple and secure ways to transfer money across geographies. Its widespread network is strengthened by collaborations with renowned organizations that include international money transfer operators (IMTOs), banking as well as non-banking institutions, retail chains, online remittance players and fintech companies. Xpress Money’s state of the art compliance and security policies ensure customers a secure and hassle-free money transfer process.
Xpress Money is part of Finablr, a global platform for Payments and Foreign Exchange solutions. With deep regulatory know-how, technology expertise and industry leading partnerships, Finablr companies provide a broad array of tailored and trusted financial solutions for consumers and businesses. With a global reach spanning 170+ countries, Finablr companies processed over 150 million transactions in 2018, managing nearly USD 115 billion for customers.

© Press Release 2019

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