Kuwait, 25 March 2025: Kuwait International Bank (KIB) achieved significant advancements in enhancing its banking services and digital products in 2024. The Bank also introduced innovative financial solutions designed to continually improve the customer experience, meet evolving needs, and ensure secure financial management and transactions at all times. These efforts align with KIB’s comprehensive strategy to develop its digital infrastructure, staying at the forefront of banking sector advancements and embodying its main slogan, ‘Bank for Life’.

As part of its ongoing commitment to delivering top-tier digital banking services and products, KIB’s Retail Banking Services Department in 2024 introduced several enhancements and exclusive features to the KIB Mobile app. Additionally, it launched the Interactive Teller Machine (ITM), and introduced the innovative KIB Multi-Currency Prepaid Card, offering 12 different currencies. These efforts earned KIB prestigious recognition, including the 'Best Retail Banking Products for 2024' award from World Finance magazine for the revamped KIB Mobile app, as well as the 'Excellence in Financial Innovation, Technological Advancement, and Digital Leadership in Kuwait for 2024' award.

Commenting on the occasion, Othman Tawfeqe, General Manager of Retail Banking at KIB said: “In 2024, we made remarkable strides in enhancing our digital banking services and investing in the development of our core infrastructure. We introduced innovative solutions designed to meet our customers' evolving needs, delivering a safer and more seamless banking experience. We take pride in the outstanding results achieved through the KIB Mobile app, the growth in the number of customers benefiting from our digital services, and the positive impact on transaction volumes across our electronic channels. As we enter 2025, we remain dedicated to innovation and development, staying at the forefront of digital banking advancements. Our commitment is to save customers time, ensure their satisfaction, and strengthen our position as one of Kuwait’s leading banking institutions.”

These enhancements and updates drove significant positive outcomes in 2024, including a 71% increase in transactions conducted through the Bank’s app and electronic channels, a 31.25% growth in customer registrations on the app, and a 72% rise in users of the KIB Rewards Program during the year.

Moreover, in 2024, deposits saw remarkable growth, with a 474% increase in the number of deposits compared to 2023. Wakala deposits done through the Bank’s app grew by 97%. Additionally, transactions made via the KIBPay rapid payment service rose by 29%. The number of customers utilizing the electronic 'Know Your Customer' (KYC) service also surged by an impressive 600%. This service enables customers to update their personal information and details anytime, from anywhere, whether inside or outside Kuwait, offering 24/7 convenience.

New Features on the KIB Mobile App

KIB has expanded the features of its digital platform for individual customers, KIB Mobile, as part of its commitment to a comprehensive digital strategy. These enhancements aim to elevate the customer experience by delivering innovative features that prioritize convenience, security, and ease of use. The updates also ensure more efficient access to products and services tailored to meet customers’ needs, aspirations, and modern lifestyles.

The new features KIB introduced to its digital platform in 2024 included the WAMD service, designed to provide customers with a more efficient, seamless, and secure experience for instant payments and money transfers via the KIB Mobile app. Additionally, the Bank joined the Gulf Payments System, AFAQ, enabling fast, secure, and convenient local currency transfers between GCC countries through the app.

The updated features include a data update service that allows customers to update their personal information anytime, anywhere, whether in Kuwait or abroad, 24/7. This service is part of the comprehensive offerings on the KIB Mobile app. The app also introduced a more flexible registration process through secure authentication via the Kuwait Mobile ID app, simplifying registration steps, enhancing app adoption, and improving the overall customer experience. Additionally, the redesigned KIB Rewards Program makes it easier for customers to browse their favorite products, explore participating brands, and seamlessly redeem points.

Another notable feature is the ability to withdraw previously submitted official complaints, enabling the Bank to respond more flexibly to customer concerns and improving the performance of its customer service and complaints management teams to ensure complete customer satisfaction.

The app also now features an enhanced payment and order list, allowing customers to conveniently view all standing orders, such as bill payments and recurring obligations. This feature offers greater ease of use compared to traditional online banking platforms.

Noteworthy here is that in 2023, the Bank fully revamped the 'KIB Mobile' app to deliver an exceptional and advanced banking experience. The updated app provides customers with comprehensive access to financing details, payment schedules, and the ability to manage their accounts, cards, and investments in one place. It also offers specialized solutions, including portfolio management, and enables quick services such as bank transfers, payments, and beneficiary management.

Launch of the ‘Interactive Teller’

In 2024, KIB launched the Interactive Teller Machine (ITM), an innovative solution designed to deliver a seamless and exceptional banking experience for all customer segments. This initiative is part of the Bank's comprehensive strategy to continuously develop its digital banking solutions and services.

The ITM combines the convenience of ATM services with the personalized touch of in-person banking. It enables customers to perform a wide range of transactions, including cash withdrawals, cash deposits, check deposits, check cashing, and printing KIB cards instantly. Additionally, it offers support for general inquiries through high-definition video calls with dedicated service representatives.

In addition to the advanced features of the ITM, KIB customers can continue to benefit from the extensive network of ATMs across Kuwait for essential banking transactions. These include cash withdrawals and deposits, account-to-account money transfers, PIN management, and cardless cash withdrawals using a civil ID and mobile number. Additional services include paying KIB credit card bills, activating new cards, subscribing to SMS banking services, redeeming KIB Rewards points for cash back, and reloading KIB prepaid cards.

Visa Multi-Currency Card

As part of its comprehensive strategy to deliver innovative banking solutions and products that prioritize customer convenience, KIB has launched the Visa Multi-Currency Prepaid Card. This digital payment solution is tailored to the needs of travelers, providing a seamless banking experience for managing international financial transactions, such as online shopping, expenses for students studying abroad, and other essential requirements aligned with a modern lifestyle.

Customers can request the card digitally through the Bank’s app and begin using it within minutes. The card supports 12 different global currencies, with the Kuwaiti Dinar (KD) as the primary currency. Customers can select up to five currencies to add to their wallet, customized to their travel and purchasing needs. Supported currencies include the US Dollar (USD), Euro (EUR), British Pound (GBP), Turkish Lira (TRY), Saudi Riyal (SAR), UAE Dirham (AED), Bahraini Dinar (BD), Qatari Riyal (QAR), Omani Rial (OMR), Egyptian Pound (EGP), and Jordanian Dinar (JOD).

The card also offers competitive exchange rates when converting from Kuwaiti Dinar to any of the supported currencies.

Contact Center and Social Media

Throughout 2024, KIB’s Contact Center handled over 390 thousand calls, averaging 33 thousand calls per month. This reflects the service's efficiency, speed, and convenience in meeting customer needs anytime, seven days a week. Interaction rates across KIB’s social media platforms, @KIBPage, also increased by 7% compared to 2023.

In addition to its interactive WhatsApp service, KIB has addressed inquiries and requests from Black segment customers in record times, providing 24/7 support throughout the week.