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Burgan Bank Closes Milestone 2022 with Four Global Finance Awards and Kuwait's Top-rated Banking App

Burgan Bank Closes Milestone 2022 with Four Global Finance Awards and Kuwait's Top-rated Banking App

Saturday, January 28, 2023/ Editor -  


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- Burgan Bank’s mobile app becomes the highest-rated banking app in Kuwait with an average rating of 4.65 
- A slew of awards in 2022 placed Burgan Bank as the Best Integrated Consumer Banking Site award from Global Finance magazine in 2022
- In-app surveys show customer satisfaction at 92.6%
Kuwait, 28 January 2023: Following a year of relentless digital innovation, Burgan Bank has closed 2022 with four awards from Global Finance magazine, after seeing its advanced digital banking app land the highest rating on the iOS App Store and Android Google Play Store in Kuwait, with an average rating of 4.65. 
The four awards include ‘Best Information Security and Fraud Management’ for developing one of the region’s best security and fraud management systems and policy frameworks. Burgan Bank also received the award for  ‘Best Open Banking APIs’ in recognition of its development of secure and efficient banking application programming interfaces (APIs). APIs are fundamental in allowing fintechs and other financial third parties to collaborate and work with Burgan Bank to enhance and provide feature-rich services. 
Burgan Bank was also named ‘Best Mobile Banking Adaptive Site,’ citing the application’s seamless and frictionless user experience across a large range of devices and resolutions for banking on the go. Global Finance also highlighted Burgan Bank’s support for small and medium-sized enterprises (SMEs) across the region in 2022 with the ‘Best SME Banking’ award.
Securing its place as the highest-rated financial and banking app on the iOS App Store and Android Google Play Store in Kuwait, customers saw the Burgan Bank app evolve throughout 2022 with the addition of multiple new features, services and capabilities. The year began with the launch of a new digitally-advanced ‘Fast International Transfer’ service in collaboration with MasterCard. Connecting customers to more than 25 countries and multiple currencies, the service gives access to competitively priced, seamless transfers in real time. 
As the year progressed, Burgan Bank launched its next digital service, the “Electronic Know Your Customer” (eKYC) form, which allows customers to seamlessly update their personal information through Burgan Bank’s digital platform at their comfort without the need to visit the branches physically.
Apply Now
Following the launch of eKYC, the Bank launched ‘Apply Now’ – a new feature that makes it possible for both Burgan and non-Burgan Bank customers to apply for financing, credit cards, and new accounts using the Apply Now feature on the Burgan Bank mobile application. Rolled out across all digital channels, customers no longer need to visit branches to submit applications – with processing and approval times faster than ever before. 
Commenting on a year of noteworthy milestones, Mr. Raed Abdullah Al-Haqhaq, Deputy Group Chief Executive Officer & CEO – Kuwait at Burgan Bank, said: “This year saw the Bank make multiple additions to its suite of digital services and products, each designed to address the changing needs of our customers with the highest and most advanced level of service.”
Financial literacy
Underpinning much of Burgan Bank’s digital transformation in 2022 has focused on accelerating financial literacy across the population as part of its contribution to financial inclusion and responsible financial management. Burgan Bank’s Personal Finance Manager tool (PFM) was an important milestone in the Burgan Bank’s financial literacy journey. Which is now named Spending. 
Created to advance financial literacy and made available on the Burgan App, Spending  promotes smarter financial habits by facilitating the management of users’ personal finances and the tracking, organization and analysis of their expenditures anytime and anywhere.
Reflecting on the impact that Burgan Bank’s digital innovations have made throughout the year, Mr. Deniz Devrim Cengiz, Group Chief Digital Banking Officer at Burgan Bank, said: “The impact of Burgan Bank’s digital transformation on communities, businesses and individuals is suitably reflected in the many awards that the Bank has received - and in the historic average rating of 4.65 on iOS App Store and Android Play Store in Kuwait. Thanks to Apply Now, eKYC and our international remittance partnership with Mastercard, Burgan Bank has continued to boost participation in the digital economy and advanced financial inclusion right across the region.”
Commenting on the widespread popularity of the Bank’s new digital banking experiences, Mr. Naser Mohammed Al Qaisi, Chief Retail Banking Officer at Burgan Bank, said: “2022 was truly a turning point for Burgan Bank in its digital evolution and its work in bringing the banking experience closer to the customer. The launch of so many exciting digital services in 2022 reflects the integration and dynamism of the Bank’s strategy across all channels and platforms.”
It serves to note that Burgan Bank’s strategy remains heavily centered around digitalization and service innovation, with a concentrated push to deliver an ever more seamless and convenient experience across every channel and touchpoint.

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