Kuwait Bank Launches Cross-border Payment Platform on RippleNet

India fears Ripple (XRP) could place banking system under competitive pressure

Kuwait Finance House (KFH) has used Ripple’s technology, a blockchain global payments solution, to successfully launch an instant cross-border payment service in KFH Turkey. This confirms that KFH always strives to use the latest financial technology while at the same time offering an excellent customer banking experience.

KFH retail business general manager Khaled Yousif Alshamlan said the instant cross-border payment service will serve customers who wish to make instant transfers to Turkey through personal expenses or investments. This shows that customers making instant transfers to KFH Turkey The KFHOnline service on the website and in mobile applications (IOS and Android) offers a safe and fast service around the clock.

“Financial institutions can send payments anywhere instantly, reliably and cost-effectively by joining Ripple’s growing, global network RippleNet”, he added in a statement, indicating the service improves and facilitates customers’ cross-border payment methods through trusted global banks network, maximizing the role of blockchain instant payment in providing best service as per highest quality standards.”

 KFH joins RippleNet to improve customer service

Alshamlan praised KFH as one of the first Kuwaiti banks to join RippleNet, reiterating that this move can improve the customer experience and is in line with KFH’s digital transformation strategy.

He noted that KFH has made great strides in the process of digital transformation and has drawn people’s attention to its advanced and innovative financial services and products. This shows that the bank has successfully launched a new digital service for customers, citizens and residents. “Online bank account opening” digital service, no need to visit branches in minutes.

Alshamlan listed some innovative financial solutions provided by KFH. These solutions are free “SWIFT GPI” service via KFHonline, Kuwait clearing company KCC dividend subscription, transfer to KFH Trade, electronic tracking of local people and companies With international bank transfers, Baiti online, deposit checks via mobile phones, cash without card via (QR Code, ID card and mobile phone number) and perform KYC updates to request “Know your customers”.

He also mentioned the online digital service for opening a gold account. You can buy and sell online. Skiplino booking appointments are booked electronically in bank branches. Electronic KFHPay payment service, through which customers can use the mobile KFHonline app or the K-Web chat, robots, push notification services, instant check printing and immediate receipt of golden cookies via XTM, provided by intelligent branches, KFH Go and many other efficient ones digital services.

Alshamlan reaffirmed KFH’s enthusiasm for continuously innovating unique digital banking solutions and affirmed its ongoing efforts to leverage AI and partner with fintech to serve clients’ best interests while advancing its digital transformation strategy.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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