Kuwait, 5 August 2024: Kuwait International Bank (KIB) has announced a list of key achievements during the first half (H1) of 2024, reflecting the Retail Banking Department’s ongoing efforts towards providing the best quality of digital banking services and products that are constantly being updated and developed in adherence to the highest banking standards and the latest technologies adopted worldwide. These efforts culminate in guaranteeing customers are satisfied and their ever-evolving needs are met while ensuring the safety and security of their data. The set of results also testify to KIB’s position among the leading banking institutions in Kuwait.

Commenting on the Bank’s achievements in H1 2024, Othman Tawfeqe, General Manager of the Retail Banking Department at KIB, said: “At KIB, we are driven by a commitment to continuously offer our customers an exceptional banking experience that meets their aspirations, as we always seek to live up to our slogan, ‘Bank for Life’. From this standpoint, we remain abreast of the latest trends and developments in the world of financial technology to continue elevating our digital infrastructure and developing our digital channels to improve the efficiency of our services that are tailored to suit the lifestyle of our customers.”

Comprehensive digital solutions yield positive results

Tawfeqe highlighted that, during the first half of 2024, KIB continued developing effective channels that save customers the time and hassle of visiting physical branches. As a result, the Bank succeeded in allowing its customers to utilize the KIB Mobile application to update their customer civil ID data and complete the “Know Your Customer” form. The Bank also launched a new in-app service that allows customers to apply for a Wakala deposit remotely.  

Furthermore, Tawfeqe revealed that the Bank observed a 10% increase in the total number of KIB Mobile users, followed by a 65% increase in account opening operations and a 326% increase in deposit account opening operations through the application, compared to the first half of 2023.

During the same period, KIBPay transactions via the KIB Mobile application witnessed a 19% increase in H1 2024, which signifies a high level of interest in using the Bank’s digital channels and online services. Meanwhile, push notification subscribers increased significantly by 38% compared to the first half of 2023, indicating the effectiveness of this app feature in enabling customers to view their account information and track their banking operations with great precision and ease.

In terms of new additions, the Bank introduced five services to its retail digital platform during the first six months of 2024, including a service that allows customers to apply for a multi-currency prepaid card remotely. These services are part of the Bank’s ongoing efforts to enrich the application with more features and solutions that enable customers to enjoy financial tools tailored to their needs, ultimately enhancing their overall digital banking experience.

Widespread ATM network

As part of its commitment to providing customers with a high level of comfort and ease, KIB has launched 123 automated withdrawal machines (ATMs) spread across Kuwait. The Bank’s widespread ATM network allows it to reach the biggest number of customers from all segments to facilitate their banking transactions.

Introducing the Interactive Teller Machine

In line with the Bank's digital transformation strategy to continuously develop its products and services, KIB launched the Interactive Teller Machine (ITM), an innovative solution designed to provide a distinguished and smooth banking experience for all customer segments.

Combining the convenience of traditional ATM services with the personalized touch of in-person banking, this machine allows customers to carry out a wide range of banking transactions, including cash withdrawals, cash deposits, cheque withdrawals and cheque deposits, in addition to addressing general inquiries – all with the assistance of a live, remote teller through high-definition video and audio communication.

It serves to note that the ITMs are currently available in five KIB branches, including Al-Zahraa, West Jahra, Fintas, 89 Mall and eMall. This comes within the framework of the Bank's firm commitment to providing innovative services that ensure customer satisfaction. The Bank’s investment in the latest technology further reinforces its dedication to providing its customers with the best possible banking experience that suits their evolving modern lifestyles, in line with its main slogan, ‘Bank for Life’.

Contact Center and social media

As part of the Bank’s commitment to maintaining open channels of communication with its customers and allowing them to receive support around the clock, Tawfeqe revealed that the KIB Contact Center received a significant number of calls, chat inquiries, and inquiries via the new voicemail service, attesting to the ease, speed, and efficiency of KIB’s service in meeting customer requirements, at any time and throughout the entire week. To ensure all customers are easily served and supported, KIB offers its customer service via multiple channels, including KIB Mobile, Live Chat, KIB Online, the official website (www.KIB.com.kw), the video call service, and the WhatsApp service.

Additional digital features

Since the outset of the year, KIB’s focus has been enhancing its digital features and services through the KIB Mobile application, telephone customer service, and traditional and interactive ATMs. As such, the Bank has enabled customers to apply for a multi-currency prepaid card, open a Wakala Deposit account, create standing orders, pause and un-pause cards, change card PINs, and view branch locations through the mobile app, in addition to accessing the voice mail service via the Interactive Voice Response (IVR) system.

It is worth noting that KIB continuously seeks to elevate its digital infrastructure, in line with its robust approach and long-term goals to ensure customer satisfaction by providing a distinguished banking experience. The Bank also plays an important role in contributing to the efforts directed toward achieving the goals of Kuwait Vision 2035. To this end, KIB’s ongoing contributions and accomplishments are conclusive evidence of its commitment to achieving sustainable development as part of its comprehensive strategy.