Kuwait Finance House K S C P : KFH Enables Non-KFH Customers to Open New Accounts through XTM

Kuwait Finance House (KFH) has announced a new banking service that enables non-KFH customers to open a bank account in an automated, safe and fast process through XTMs that are distributed in 10 locations. Non-KFH customers wishing to open a bank account are able to communicate with a customer service agent through an XTM device using an audio-visual connection, enter the required information and then open an account at instant.

Manager ATM and KFHGO at KFH, Meshal Mandani said that the new service affirms KFH's commitment towards digitalization, maximizing the role of technology to achieve financial inclusion, expanding its customers' portfolio and market share in addition to enhancing the quality and accessibility of KFH services. The new service will allow the Bank to be closer to its current customers and attract potential customers in different areas.

He explained that individuals, of 15 years of age and above who wish to open a bank account at KFH can visit the nearest KFHGo branch and communicate with a KFH staff through XTM to open an account, noting that the new service is free of charge and available for residents and citizens alike without a requirement of an opening balance. The available accounts through XTM are saving, electronic and AlRabeh accounts.

Mandani added that the new service is available in KFHGo branches that are in 10 different areas across Kuwait as follows: KFH Auto-Shuwaikh showroom, the Avenues, Abdullah Al-Salem, Jabriya, AlSalam, Ishbiliya, Kuwait Airport, Abu Fatira, Mangaf and Sabah Al-Ahmad.

He went on to say that the customer who opened his account successfully, can also print the ATM card within 3 minutes through the self-service printing machines located in the same branch. He also pointed out that the customer can easily attach any certain documents required for the transaction directly through the XTM mini branch, and with the help of a customer service agent connected online during the process.

He pointed out that the new service is a step forward that provides an opportunity to attract new customers through a variety of banking services, which will diversify the Bank's customers segments, particularly those who prefer modern technological banking solutions. This step also reflects KFH's understanding of the market and the needs of customers, and its keenness to provide the best services with the latest products and at the highest levels of security, accuracy, and speed.

It is worth noting that KFH offers an easy banking experience through a unique self-service device "XTM" which offers several banking services available 24/7 allowing customers to benefit from different services and complete many transactions. Among the main services available through XTMs are: buying 10g gold biscuit and receiving it instantly by self-service (Opening Gold Account is not required), cardless cash withdrawal up to K.D 5,000 through a video call with KFH agent using the civil ID, cardless cash deposit up to K.D 3,000 per day (150 Notes/ Each transaction) through a video call with KFH agent using the civil ID, cheque deposit by self-service or through a video call with KFH agent, money transfer between own accounts up to K.D 10,000 per day by self-service or through a video call with KFH agent, and money transfers to KFH or other banks' beneficiaries.

The XTM device also provides other services such as requesting and printing a cheque book, updating information using the civil ID through a video call with KFH agent, opening investment deposits, creating a Murabaha transaction, as well as requesting credit and prepaid cards.