KFH the First Bank in Kuwait to Launch D-POS

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Kuwait City, Nov 25: Kuwait Finance House (KFH) remains committed to delivering innovative digital banking services, surpassing customer expectations, and meeting their aspirations. As part of this commitment, KFH has rolled out a cutting-edge paperless service that enables new customers to instantly open bank accounts.

This exclusive service is available for customers through the D-POS mobile device, which is tailored to facilitate immediate bank account opening. This transformative initiative is the result of a fruitful collaboration between KFH and K.A.S Fintech company, specializing in digital transformation solutions.

To get started, customers can insert their civil ID into the D-POS device, electronically sign on its screen, and follow simple and easy steps. From there, they will have a fully verified and ready-to-use bank account. Upon completion, customers will receive a notification including the IBAN number along with a printable receipt for record-keeping purposes.

KFH Manager of E-Channels and Cash Management Services, Meshal Mandani, said that the new service affirms KFH’s commitment to adopting the latest trends in financial technology services to offer the best banking experience for customers within the highest efficiency and quality standards.

“KFH had already launched the instant card issuance service, using Hybrid Solution as the first bank in Kuwait. Hence, customers can instantly issue their cards following the successful bank opening using a D-POS device. Customers can also enjoy KFH’s full banking services by registering in KFHonline,” Mandani said.

“In line with KFH’s slogan, ‘New Generation of Easy Banking Services,’ the new service complements the paperless banking efforts (instant card issuance, immediate bank account opening, KFHonline services). It is also in line with the sustainability and environment preservation principles by shifting to an all-digital banking operation,” he added.

He explained that D-POS devices will be available in all customers’ touchpoints, direct sales locations, KFH Zone in Winter Wonderland, in addition to KFH branches, making the day-to-day banking procedures easier and faster for customers and employees.

“With these groundbreaking services, KFH affirms its leadership in digital transformation and promotes a new banking culture relying on new technologies and self-service devices, which in turn raises the customer service level and provides an easy and innovative banking experience,” Mandani said.

He pointed out that KFH customers can instantly have banking cards issued, including credit and prepaid cards, through various ways; either via self-service using the civil ID or by using their smartphones and the QR code.

It is worth noting that KFH provides a comprehensive range of digital banking services that affirm its leadership in the field. It has recently launched a money transfer service through Western Union without any transfer fees for a limited period. Additionally, KFH has kept pace with the latest smart device trends by allowing customers to use their smartwatches to complete all their transactions through ATMs.

KFH also offers a personal finance application online through KFHOnline. Customers can make local and international transfers, create investment deposits, open a gold account, sell and buy gold, request a cheque book, instantly issue a debit card via QR code, and deposit cheques. Additionally, customers can view financial transactions, pay instalments, view investment plans, and follow up on their deposits and account balances.

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