National Bank of Kuwait and Arab Bank are both clients of FINANTEQ. They also share the fact that their applications set new trends among the Middle East banks.
NBK entered into cooperation with FINANTEQ in 2011 and Arab Bank joined 5 years later. The objective of the Finanteq team in both cases was similar: to provide a mobile application that would incorporate the bank’s wide range of products and meet the needs of all groups of the bank’s customers.
Recently, two of our clients from the Middle East have won the main awards in the prestigious “World’s Best Consumer Digital Bank Awards” competition held by Global Finance Magazine. National Bank of Kuwait was ranked the best in Kuwait in the categories:
— Best in Mobile Banking and Best Consumer Digital Bank.
In turn, Arab Bank received as many as 4 honors:
— Best Consumer Digital Bank in Egypt;
— Best Consumer Digital Bank, Best Mobile Banking App and Best in Social Media Marketing and Services in Jordan. Among the criteria used in the selection, the following were taken into consideration: success in getting clients to use digital offerings, growth in numbers of digital customers and breadth of product offerings.
So let’s take a closer look at the applications we have developed for both banks.
National Bank of Kuwait
The National Bank of Kuwait (NBK) was established in 1952. From the start NBK has been building its leading position by focusing on the high quality of its banking services and gaining the trust of new customers. Today, it focuses on the development of innovative digital services and the introduction of digital transformation standards in traditional bank branches. The Bank also places a strong emphasis on the quality and versatility of mobile banking, which we, as FINANTEQ, are pleased to co-create.
The application that we have created allows easy and safe management of one’s finances from any place and at any time. The customers can easily open a new account, view transactions made on accounts and payment cards, check points collected in the loyalty programs NBK Miles and NBK Rewards, pay bills online or find the nearest branch or ATM. Surely the greatest advantage of the application is its very extensive functionality.
One of the more interesting featuresis the bank deposit calculator. The user can check the amount of interest at the end of the savings period (by entering, among other things, the sum they want to be paid in and the deposit period). What is more, from the application level it is possible to set up a selected deposit without the need to visit a physical branch of the bank.
Another noteworthy solution is the preview of points collected in loyalty programs such as NBK Miles Points Miles & More. This is a program for frequent travellers where you can earn miles for your flights, travel and daily shopping. The balance of points can be checked by means of the NBK mobile application.
Arab Bank can easily be called one of the largest financial institutions in the Middle East. The company has been in operation since 1930 and currently has more than 600 branches on five continents.
The new “Arabi Mobile” application by FINANTEQ was launched in July 2018. The app is already available in Jordan and is going to be rolled out in Egypt, Palestine, UAE, Qatar, Bahrain, Yemen and Lebanon soon.
As in the case of the application for NBK, one can find here a multitude of functionalities that help the user manage their finances. Without doubt, the application’s modern design also deserves attention (the application has as many as 4 color themes for different customer segments).
One of the useful features is logging in to the application using biometrics – it is enough to scan a fingerprint or one’s own face. After logging in, the user is presented with an intuitive dashboard containing a summary of all the most important information.
Another interesting functionality available in the application is the popular in Jordan the so-called “JoMoPay” payment, which allows immediate transfer of funds to beneficiaries without knowing their bank account numbers, based only on the phone number.
For active customers, Arab Bank has launched a loyalty system in which users collect Arabi Points for using the mobile application or the online service. The accumulated points can later be exchanged directly in the banking application for coupons to affiliated chain stores or for a cash withdrawal.
Arab bank application was recognized by EFMA.
The greatest advantage of this mobile application? Its constant development! — We are continuously adding new and innovative services to both Arab Bank and NBK solutions and improving those that already exist — says Andrzej Sierpiński, Managing Director of FINANTEQ. — All of this is to provide our clients with exceptionally strong support in the times of Mobile First, in order to strengthen their position as leaders in offering the best mobile banking applications on the market, the high quality of which enables our clients to more effectively compete with others and gain users’ loyalty and confidence for years to come. And awards such as the one from Global Finance clearly prove that we do it well.
Finally, we congratulate National Bank of Kuweit and Arab Bank once again on the distinction in such a prestigious competition and we would like to thank them for the opportunity for fruitful cooperation and a broad vision of electronic channels.
Global Finance is an independent financial magazine published since 1987. Every year it awards the best internet banking systems in the world. The winners of World’s Best Consumer Digital Bank are selected by regions: Europe, Central and Eastern Europe, North America, Latin America, Asia, Africa and, since last year, the Middle East. These awards have become a recognized mark/sign/symbol of the highest quality of banking services.