Mubasher: Kuwait Finance House (KFH) has uncovered the launch of the first banking robot in Kuwait, a move it said would bolster its customer experience as well as reduce the time taken to carry out a variety of transactions.
The robot comes as part of KFH’s efforts to provide its customers with the best and highest services and experiences by adopting the latest advancements and technologies, particularly artificial intelligence (AI) and robots.
KFH’s new robot will complete transactions in consumer and installment financing, the bank said in a statement, noting that the robot’s performance would reduce processing time and save customers time and effort by trimming down the turnaround time to 10 minutes from 60 minutes.
“This is an unprecedented milestone to the banking sector in Kuwait and we are proud to be the first bank to introduce it. The step to employ robots to complete banking transactions comes as a continuation to our investments in digital transformation and global standards of banking in the digital era,” commented KFH Group CEO Mazin Saad Al-Nahedh.
KFH previously introduced the XTM machines and “KFH-Go,” which is the first digital self-banking branch in Kuwait, added to mobile payment and e-payment services, all of which support and enhance customer experience.
With the newly-launched banking robot, KFH customers can determine their credit position within four minutes, the top official went on, noting that customers could also set their credit limit and check their historical transactions in services such as K-net.
KFH previously “launched innovative solutions that make transferring funds easier thanks to the Blockchain secure and trusted technology [which reduce] banking fees and paper transactions, increases safety, accuracy and speed of remittances without the need for intermediaries. The service reduces operating expenses and enables customers to make financial transfers quickly, safely and at a lower cost,” Al Nahedh added.
These new services and options will increase the quality of KFH’s provided services to achieve customer satisfaction and help attract new customers to KFH, which seeks to expand its market share, KFH’s CEO concluded.
