Kuwait Finance House (KFH) has launched its annual, group-wide 2025 Innovation Challenge, inviting employees to submit innovative ideas that add significant value for both the bank and its customers. This initiative encourages employees to share creative concepts for developing unique financial services and solutions, enhancing business processes, creating innovative systems and procedures, improving the work environment, elevating customer experience, and fostering cost optimization and growth through increased sales, an expanded customer base, greater flexibility, and improved efficiency.

Group-wide participation

KFH Group Chief Technology and Digital Transformation Officer, Eng. Meshaal AlMunaikh, said that the Innovation Challenge, now in its 9th consecutive year, is part of KFH’s strategy to promote innovation culture and encourage creative thinking in addition to uncovering new talents. The competition is organized at the Group level covering Kuwait, Bahrain, Turkey, UK, Egypt and the UAE.

He explained that the initiative isn't just about new ideas; it's about building stronger collaboration across the KFH Group. It opens doors for employees to grow professionally by working together across departments and sharing diverse perspectives. This joint effort in planning and problem-solving helps cultivate an organizational culture that values engagement and the exchange of ideas, ultimately driving sustained growth and excellence throughout the bank.

Career development and innovation

AlMunaikh pointed out that KFH is committed to organizing this initiative each year to enhance and develop employees’ skills and intellectual capabilities, enabling them to contribute innovative ideas that have a positive impact on the KFH’s continued success. “The challenge aims to develop a positive perspective among employees, strengthen their engagement with the work environment, increase their sense of accountability, and motivate them to drive change,” he noted, “Innovation plays a critical role in ensuring institutional success and leadership.”

Innovation Challenge stages

He explained that following the challenge launch, the submitted ideas will undergo multiple rounds of evaluation. In the advanced stages, shortlisted ideas will be presented to a specialized Executive Management committee, which will select the winning ideas. These efforts empower KFH Group to adopt a flexible business model, actively driving the consistent flow of innovative ideas across the Group. This model adapts to the unique characteristics of each market the Group operates in, considering customer segments, guidelines, and relevant criteria.

Awards and criteria

AlMunaikh highlighted that the top winners will receive a total prize of USD 45,000. The winning ideas will be selected following a thorough evaluation by a specialized committee, based on high standards and alignment with the Group’s overall policy. The ideas must be practical, executable with clear steps and defined implementation phases, while also meeting competition, profitability, quality, and professional standards both locally and internationally.

It is worth noting that the 2025 Innovation Challenge is open to all employees across KFH Group. Participation can be either individual or in teams of up to four employees, with submissions accepted until 15 July 2025.