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.