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    KFH   KW0EQ0100085

KUWAIT FINANCE HOUSE K.S.C.P.

(KFH)
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Kuwait Finance House K S C P : KFH launches SWIFT Payment Controls service

07/27/2021 | 02:00am EDT

Kuwait Finance House (KFH) has launched SWIFT Payment Controls service that focuses on outgoing payments by helping in mitigating fraudulent attacks by detecting and preventing high-risk payments and supporting recovery. The new service is in line with KFH`s digital transformation strategy and its goal to achieve leadership in e-banking services and maintain its excellence in enhancing customer experience.

Tahani Al-Khamees, Deputy General Manager Transaction Banking Operations at KFH, said that the new service, implemented successfully according to the highest quality and safety standards by KFH, enables customers to real-time monitor, alert and block sent payments with independent daily reporting.

She explained that this service has many benefits and features, including stopping high-risk payments in real-time, 'in-flight' monitoring of outgoing payments, intelligent technology that learns behavioral patterns over time and supports continuous and secure improvement as well as being a SWIFT-hosted service with zero footprint and instant switch-on.

Al-Khamees added that SWIFT Payment Controls service, easily tailored by users, offers powerful but simple to use pre-built reports covering both sent and received payments, allowing managing blocked payments, mitigating fraud risk and building a safer, more secure future and improving payment speed, transparency and reliability with alert coverage of key payment messages MT103, MT202 and MT202COV.

In light of the changing nature and impact of fraud in the financial services industry, Al-Khamees pointed out the importance of protecting main payment systems and Swift Payment Controls service, stressing the banking system's continuous endeavor and efforts to prevent fraud attacks by real-time monitoring of payments, focusing on data security and enhancing cybersecurity strategy.

Along with offering integrated package of digital banking services, KFH has recently launched digital signature service in personal financing products through KFH mobile app or desktop from anywhere without having to visit the branch, Live FX Pricing, instant cross-border payments service at KFH-Turkey using Ripple's technology and digital Wallet service through smart mobiles and watches which provides advanced and smart digital payment methods according to highly developed security standards in cooperation with Samsung, Fitbit and Garmin.

In addition, KFHGo branches offer a variety of interactive banking services, including those at Kuwait International Airport, such as establishing 'Murabaha' financing transactions, requesting credit and prepaid cards, updating data and phone numbers, activating bank cards, opening deposits and accounts, instant cheque printing, receiving gold biscuits (10 grams), opening (gold, savings, Al-Rabeh, electron) accounts, online gold purchase and sell, cardless withdrawals using QR code through mobile, or by using Civil ID or phone number, in addition to many other financing and banking services.

As part of enhancing collaboration with FinTech companies, KFH has recently signed an agreement with Aion Digital, a digital-first banking platform, to transform all functions of Retail and Corporate Banking services at the bank, and an agreement with ProgressSoft, a leading payment solutions provider, to launch an electronic forms solution which fully transforms traditional banking forms into electronic, secured and automatically validated forms.

Moreover, KFH offers 'SWIFT GPI' service to track banking transfers electronically through KFHOnline service on the website and the mobile App (IOS and Android), and through ecorp.kfhonline.com.

Disclaimer

Kuwait Finance House KSC published this content on 27 July 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 27 July 2021 05:59:03 UTC.


ę Publicnow 2021
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Financials
Sales 2021 827 M 2 749 M 2 749 M
Net income 2021 240 M 796 M 796 M
Net Debt 2021 - - -
P/E ratio 2021 30,3x
Yield 2021 2,02%
Capitalization 6 897 M 22 861 M 22 937 M
Capi. / Sales 2021 8,34x
Capi. / Sales 2022 7,73x
Nbr of Employees 15 000
Free-Float 51,6%
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Technical analysis trends KUWAIT FINANCE HOUSE K.S.C.P.
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TrendsBullishBullishBullish
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Mean consensus UNDERPERFORM
Number of Analysts 5
Last Close Price 0,82 KWD
Average target price 0,55 KWD
Spread / Average Target -33,7%
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Managers and Directors
Abdulwahab Essa Abdulwahab Al-Rushoud Group Chief Executive & Treasury Officer
Shadi Ahmed Yacoub Zahran Group Chief Financial Officer
Hamad Abdulmohsen Hamad Al-Marzouq Chairman
Srood Amed Sherif Group Chief Information Officer
Abdullah Mohammed Abdullah Al-Haous Group Chief Operations Officer
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