ABK leverages digital assets during Covid crisis

Banking & Finance
| The European | 15 October 2020

Throughout the pandemic, ABK has streamlined a range of cutting-edge digital services to help customers efficiently manage their finances

In line with its “Simpler Banking” strategy and in response to the impact of Covid-19, Al Ahli Bank of Kuwait (ABK) has prioritised contactless, digital banking services to provide its customers with a convenient way to conduct remote transactions. 

The bank’s technological innovations have enhanced its payment systems, credit facilities and a wide range of other services, which makes banking more secure and accessible to customers across its entire network. 

The global health crisis has accelerated customer demand for e-services and remains a significant driver of digital transformation. In response, ABK has leveraged its digital assets to operate with speed and agility, meeting customers at their point of need, and the bank has curated a portfolio of products and services that limit face-to-face interactions. These services include ABKPay and ABK SecurePay, Verified by VISA and Mastercard SecureCode, which were introduced to reshape Kuwait’s banking industry and fast-track ABK’s journey towards being a bank that encourages digital-first, especially during the pandemic. 

Better online 

According to a recent study by VISA and the Kuwait Banking Association, 65% of consumers in Kuwait prefer (and heavily rely on) digital payments, showing high confidence in these e-services. Conducted to gauge the impact of Covid-19 on payment habits among consumers, the study highlighted a shift caused by the pandemic, with innovations such as digital payments gaining the confidence of an increasing number of users. 

While the bank continues to work towards providing smart, seamless, personalised user experiences via the most up-to-date technology, it also recently launched its Push Notification, Voice Biometric and Fraud Detection features. 

To ensure customer convenience and reduce branch traffic, ABK’s mobile application and online banking allows for new accounts to be opened and new loan applications to be made. Customers can also carry out a number of actions, such as transfers between accounts, card payments and printing statements through digital channels, in addition to making account enquiries.

ABK has numerous other digital services, including Global View whereby you can access all of your accounts (and their entire history) on one platform. The bank will also be launching a  chatbot, pending regulatory approvals, in the very near future.

ABK recognises the positive impact that digital transformation can have and sees a growing appetite towards contactless banking services. It continues to expand the range of digital services available to customers, showcasing the bank’s capacity to deliver the very best digital banking anytime, anywhere.

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