Group Chief Retail and Private Banking Officer at Kuwait Finance House (KFH), Waleed Khaled Mandani, said that KFH uniquely offers innovative financial solutions available on the KFHonline mobile application, which is designed to meet the customers' requirements to complete financial and banking transactions for free at any time and place in a streamlined, easy and secure manner.
Mandani added, in a press release, that the mobile App is available in Arabic and English for iPhone devices through the App Store and for Android devices via Google Play Store, indicating users can easily login the application and complete banking transactions through "Face ID", or with one touch via fingerprint technology.
Mandani showcased some of the innovative financial solutions provided by KFHonline mobile application, which are:
The free of charge "SWIFT GPI" service to track local and international banking transfers electronically for individuals and corporate via KFHonline, Kuwait Clearing Company KCC dividend subscription, transfer to KFH Trade, opening fixed deposits, opening new bank account, viewing the PINs for credit and debit cards, transfer to credit and prepaid card, cheque book request, deposit of cheques via mobile, Cardless cash withdrawal by (QR Code, Civil ID& Mobile Number), and a complete update of KYC request "Know your customer".
Mandani noted that the mobile App also provides a service for viewing financing obligations and investment plans, obtaining a summary of account balances and deposits, perform money transfers to other KFH customers and customers in local and international banks for free, in addition to many other highly efficient digital services.
Mandani added: “The application also provides the Skiplino service to book appointments electronically in the banking branches, KFHPay electronic payment service through which the customer can pay through the KFHonline mobile application or via the K-Net page. Moreover, KFH offers the KFH-Wallet service, which is an innovative in the world of electronic payments which is supported by the MDES digital enablement service for smart phone payments.
He pointed out the possibility of opening a gold account with options of selling, buying and trading of gold through the mobile application, indicating that the application also provides “request financing online” service. The Mobile App offers Push Notification service that is important in the case of traveling and the text messaging service is not available. It offers the services of activating new bank cards, reporting a lost card whether credit or ATM cards, bank account linking service, and standing order management service (add, amend, cancel).
Mandani continued: "To speed up electronic payment processes and enhance security, 3D Secure service has been developed so that the verification process is done through the verification code (OTP) technology that reaches the customer even if he is outside Kuwait via SMS or through the Push Notification service in the KFH mobile application.”
Mandani said that KFH provides, through the KFHonline mobile application, a service that enables customers to postpone the payment of one of the due installments annually throughout the financing period under the title of KFH-Pass. The customer who recently contracted with the bank can change the date of the installments he postponed upon contracting.
Leading digital development
Mandani confirmed that KFH continues to develop its technological infrastructure and digital applications, while strengthening partnerships with the world leading FinTech companies for utilizing their high capabilities and innovative strategies to provide the best digital financial solutions that serve the requirements of millennial customers as well as all segments of customers at the Group level within highest standards of professionalism.
Mandani stated that the innovation mentality has become an integral part of KFH’s strategy. the Bank takes this approach to constantly enhance the customer’s banking experience as per highest levels of sustainability and excellence. This comes in line with the Bank’s strategy for digital transformation and embodies its vision of leading the global development of the banking industry.