NBK the most innovative globally

KUWAIT: National Bank of Kuwait (NBK) has received a bundle of awards from Global Finance magazine in its annual “Best Consumer Digital Bank Awards, 2023”, totaling 11 awards on Kuwait, the Middle East, and globally.

Salah Al-Fulaij, Mohammed Al-Othman, Mohammed Al-Kharafi and Mohammed Al-Dakhil receiving awards.

 NBK monopolized all the seven awards on Kuwait level, shared recognition with regional banks with three awards on Middle East level, and made a unique achievement by receiving one award as the best in the world.

The annual awarding ceremony held by Global Finance in London was attended by Salah Al-Fulaij, CEO of NBK-Kuwait, Mohammed Al-Othman, CEO of Consumer and Digital Banking Group at NBK, Mohammad Al-Kharafi, Chief Operating Officer - Head of Group Operations & Information Technology, as well as Fawzi Al-Dajani, General Manager of NBK London.

The list of awards received included the following:

• Best Consumer Digital Bank – Kuwait

• Best Mobile Banking App (Consumer - Middle East)

• Best Innovation and Transformation (World)

• Best Product Offerings (Consumer - Middle East)

• Best Bill Payment and Presentment (Consumer – Kuwait)

• Best User Experience (UX) Design (Consumer – Kuwait)

•Best in Social Media Marketing and Services (Consumer – Kuwait)

Commenting on these numerous recognitions, Mohammed Al-Othman, CEO of Consumer and Digital Banking Group at NBK said, “We are so delighted to receive these prestigious awards outperforming regional and international banks. This recognition undoubtedly reflects the amount of effort put by all NBK team, the innovation-friendly work environment, and the forward-looking strategy and vision of setting a digital roadmap, and implementing it by creative leaders in all business units.”Mohammed Al-Othman receiving awards.

Best positioned for the future.

“The way to the top in consumer digital banking was never easy, but as said “It is more difficult to stay on top than to get there”. Therefore, we worked to lay solid foundations to maintain NBK’s digital leadership, far ahead of closest competitors,” Al-Othman continued.

“We built a tremendous technological infrastructure, embedded the digital culture in all activities and at all levels, set a mechanism to attract talent, and created an innovation-friendly work environment to motivate and retain creative individuals,” he noted.

“We were not content with laying solid foundations to sustain success, but rather led modern banking trends and prepared for a future of rapid and massive development, as we are well aware. We succeeded in quick automation of our operations, and establishing one of the largest data centers in the region, which uses cutting-edge huge data analysis software,” he added.

Global excellence

Commenting on NBK’s winning the award of “Best Innovation and Transformation” in the World, outperforming a large number of banks worldwide, Al-Othman said: “When excellence reaches global heights, the achievement is far beyond just an award. NBK has gone a long way in innovation, beginning with local excellence, and a firm belief for all our innovative team that our innovation ambitions are limitless.”

“NBK’s rich record of excellence and innovation over long decades made it imperative to maintain the course of endless innovation in consumer digital banking,” he added. Concluding his speech, Al-Othman mentioned: “The award of Best Innovation and Transformation in the World should be an inspiration to the people of Kuwait, not just NBK or the banking sector, as it proves that our national cadres and governmental and private institutions are capable of competing and excelling on the global level.”

The real champions

“If it were not for the protocol, I would have invited all the members of Consumer and Digital Banking Group to stand on the podium, as they are the real champions of this success, and I always feel lucky to be part of this unique group of high-caliber, innovative, and achievement-driven professionals,” Al-Othman mentioned. “NBK’s excellence in consumer digital banking is attributable to the work team, who represent our key strength, being highly skilled, experienced, responsible, initiative-taking, and determined to excellence,” he elaborated.

Well-deserved leadership

Al-Othman underscored that NBK’s excellence and leadership in consumer digital banking is constantly increasing and advancing, as reflected in facts and figures. Speaking on digital channels, Al-Othman highlighted the high demand for NBK’s digital channels, which represent more than 97 percent of total transactions, mainly the NBK Mobile Banking App, which accounts for over two-thirds of transactions, and sees a significant increase in the number of users, with year-on-year growth exceeding 72 percent last year.

Regarding payment solutions, Al-Othman said: “NBK is always the trailblazer of cutting-edge payment solutions in the Kuwaiti market, as we got ahead of everyone in focusing on providing contactless payment solutions prior to the pandemic, and continued to offer our customers the latest and most advanced world-class solutions.”

Commenting on delivering the best banking experience, Al-Othman said: “As we offer all new top-notch services, the keyword in perfectly meeting our customers’ needs lies in being closer to them, and carefully aware of their needs, and always quick to keep pace with their changing expectations.” Al-Othman indicated that the integration between NBK’s top-notch products and services, exceptional offers, and cutting-edge payment solutions largely contributes to delivering our customers with the best banking experience in Kuwait and among the best in the region, and now among the best globally.

Prestigious awards

Global Finance, founded in 1987, is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 187 countries, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions. The magazine conducts various surveys annually about innovation and profitability for banks and financial institutions all over the world, based on which it selects top performers on the regional and international levels.

Mohammed Al-Othman

•This recognition reflects our forward-looking vision of setting a digital roadmap and implementing it by an innovative team

•“Best Innovation and Transformation” in the World is an inspiring award and proof of Kuwait’s ability to compete globally.