Kuwait Finance House (KFH) AGM for Banking Sector Mohammed Al-Fozan stated that KFH’s banking cards achieved noticeable success during the past three months after overcoming the market’s challenging conditions. He noted that such success is evident by the significant increase in the sales of various banking cards, which eventually led to an increase in KFH’s share of the local banking cards market during that period, compared to the same period last year, which is a result of the professional marketing strategy that included numerous benefits and advantages for card holders, not to mention the high quality of service offered and the innovation of new products. He added that the success of the campaign is also highlighted by the increase in number of operations made by KFH cards, which led to a hike in the bank’s share of total of the local operations to more than 25%, in addition to increasing the number of issued cards, such as Al-Tayseer, credit cards, and prepaid cards, which led to the increase of KFH’s share of that market to more than 35%.
Moreover, Al-Fozan announced that the final touches are being done to prepare for the launching of a major cards’ marketing campaign that will cover all means of media, and said that KFH’s channels for electronic payments have increase to exceed 200%, due to the advanced technology and security measures that KFH implements while performing online operations. He also mentioned that since people travel and deal with advanced banking systems, they are capable of comparing and selecting the best bank that meets their requirements. He went on to say that this success includes merchants who deal with KFH, where the gains made by those merchants through points of sale machines increased by 22% compared to the same period last year. Al-Fozan underscored the importance of reinforcing partnerships with merchants via offers to increase the usage of cards and to offer clients the highest number of machines possible, not to mention boosting business in the local market and economy.
Furthermore, he highlighted the success of Al-Khair cards campaign specifically, which allowed KFH to sponsor 40 people to perform Umrah and 10 people to go to Haj; thus revealing KFH’s clients’ high sense of social responsibility. He remarked that Al-Khair cards will be the focus of many future marketing campaigns, in order to continue doing charity that is a top priority to KFH.
Concerning Al-Osra card, which is considered to be the first of its kind in Kuwait, it allows the client to receive up to 7 prepaid Al-Osra cards for an annual fee of KD 20, where all the cards are linked to the client’s main account. The card allows the preparation of monthly transfers for those cards that are suitable for married people, children, fathers, servants, and drivers. Al-Fozan revealed that KFH will issue Diamond Credit Card that meets the demands of a certain segment of clients, and stated that Al-Tayseer Diamond card can be used in Kuwait and around the world. He explained that the client will pay back the money through 12 monthly installments without any additional fees.
Al-Fozan mentioned that many factors led to such success, such as the continuous hard work during summer, which is the season for travelling in Kuwait, in addition to the incentives granted to branch employees who directly deal with clients, and the Call Center staff that responds to local and overseas calls to overcome any problems that might face the clients.
It is worth noting that KFH has recently organized a meeting for KFH’s female clients to demonstrate the services and products offered to them, since they are prioritized by KFH’s various sectors.