Kuwait Finance House – Bahrain (KFH-Bahrain), a leading Islamic bank in Bahrain and a main contributor in developing the financial sector in the Kingdom, has announced the latest updates of its mobile application “KFH Jazeel Banking”. It is the first Fintech banking platform that enables resident GCC nationals in GCC countries to open saving accounts in the Kingdom of Bahrain, remotely and conveniently, thus eliminating the need to travel.
The latest update allows GCC customers to conduct banking transactions and access financial services within the Kingdom of Bahrain, in addition to opening and managing savings accounts, opening Wakala Investment accounts, issuing Credit Cards, alongside various other banking services. A primary feature of the platform is the eKYC "Electronic Know Your Customer" capability, which verifies individual customer information through an embedded video conferencing system fully integrated with the Bank's call center, eliminating the need to visit any of the branches in person.
On this occasion Mr. Abdulhakeem AlKhayyat, the Managing Director and CEO, said, “We are delighted to be the first bank to enable GCC nationals to open accounts remotely through our digital banking platform without visiting a branch. We are thankful to Allah for enabling us to leverage on the latest Fintech technologies in order to provide excellent financial services to GCC citizens. We are committed to continuously develop the KFHJazeel Banking platform by offering unique services and following through on our new concept of sustainable community banking. I would like to take this opportunity to thank the Central Bank of Bahrain (CBB) and the Economic Development Board (EDB) for their continuous efforts to positing Bahrain as a leading FinTech hub in the region and for enabling us to open such accounts for our GCC customers. They spared no efforts and support to ensure that all necessary mechanisms are in place to maintain the integrity of the procedures, policies and implementations related to combating financial crimes while providing outstanding services”.
In addition, Mr. Khalid Rafea, the Executive Manager and Head of Retail Banking Group atKFH-Bahrain: “We are very proud of this latest addition to our KFH Jazeel banking application. Since launching the application in 2018, we have worked diligently to improve the platform’s features and services, staying true to our promise of providing our clients with a holistic digital banking experience.”
Speaking about the new features, Mr. Subah Abdullatif AlZayani, Deputy Head of Retail Banking Group at KFH said: “One of the main enhancement pillars is to elevate the customers’ satisfaction, therefore, we have updated the process of opening an account to create a more seamless and convenient experience. We have also added another instant feature, enabling users to open Wakala Investment Accounts with ease, for validity periods ranging from one month up to five years. As for our line of Credit Cards, customers can now directly issue cards through the app and determine a suitable limit in addition to managing their cards features. We will continue to offer the latest technologies and services to enhance the experience of KFH’s customers.