Kuwait Finance House K S C P : PACI applauds KFH E-Services and their continuous development

The Director General - Public Authority for Civil Information, Musaed Al-Asousi praised the major technology development in KFH services, the continued efforts to achieve digitalization and benefit from the latest technological developments and their use in the field of banking business, thus achieving distinction in customer service. KFH was able, during the Covid19 pandemic, to exhibit a remarkable level of performance and service through latest modern technologies, multiple applications, and its website kfh.com.

Al-Asousi said, during KFH Acting Group CEO- Abdulwahab Essa AlRoshood, and executives visit to PACI head office - South Surra, to view PACI services and work mechanism, discuss the means of cooperation between the two entities, and provide more services and advantages to KFH customers, that PACI welcomes all efforts made by national companies and institutions to provide modern technologies. PACI is always ready to provide all support to achieve an electronic government and digitalization of the state official services. He emphasized that this goal would not be achieved without establishing a comprehensive system to comprise all main services including government and banking services under the umbrella of an advanced technology system that would provide users with the elements of safety, speed, and accuracy.

On his part, Al-Roshood valued the fruitful cooperation between KFH and PACI and praised the efforts exerted in the technical and technological arrangements which have resulted into the successful establishment of the electronic link with the PACI at a high level of coordination and cooperation. This has given KFH the privilege to provide unique and distinguished services at the market level, namely those related to electronic signature applications.

Al-Roshood praised PACI efforts during the Covid19 pandemic including the cooperation to establish electronic platforms for several government and private bodies including the issuance of permits during full and partial lockdown and making appointments with hospitals and cooperative societies and other entities. He expressed his thanks and gratitude to the authority for the significant role it played and its outstanding efforts in this field.

Al-Roshood reiterated that KFH has always endeavored to enhance its digitalization strategy to achieve customers satisfaction, enhance its market share, achieve targets, mitigate costs, enhance marketing services, attract new customers, and innovate new banking and investment products. He added that KFH aims to increase PACI machines to expand the E-Signature service at all KFH branches through KFH GO, which have reached 10 branches so far. Action is still in progress to increase the number of these machines and services.

The first bank in Kuwait to launch E-Signature and digital finance application service.

Al-Roshood indicated that KFH is the first bank in Kuwait to launch the E-Signature service for personal finance transactions including electronic processing of all paper transactions. The service enables customers to sign any required document electronically through any device at any place i.e., the finance application could be completed in a fully automatic manner according to terms and conditions.

KFH has introduced the online bank account opening service to the new customers without the need to visit the branch. This service is the first of its kind at the market level. KFH has earlier applied the E-Signature project to its employees in cooperation with the PACI to save time and effort for the employees and cope with the transitional plans to the electronic ID era.

To enhance infrastructure and provide more e-services, Al-Roshood said that KFH has signed an agreement with Aion Digital, a specialized platform for digital banking. The agreement aims to digitalize all banking services provided by the bank to retail and corporate customers.

Several digital banking services were made available to KFH customers recently including bank transfers through SWIFT GPI, merging the account with the trading No. at the Kuwait Clearing Company, Smart cheque deposit service and card free withdrawal service through QR Code technique. Customers have also benefited from the electronic gold account opening service which enables customers to buy and sell gold online in addition to other services.