Kuwait International Bank (KIB) has been celebrated for its pioneering real estate digital platform, 'KIB Aqari,' as it received prestigious recognition in the inaugural Qorus Reinvention Awards – Middle East and Africa (MEA). KIB's innovative approach to digital transformation earned them a coveted award in the "Distribution" category, acknowledging their dedication to providing cutting-edge digital solutions in Kuwait's financial sector.
Middle Eastern and African innovation excellence in the spotlight at the first-ever Qorus Reinvention Awards
The Qorus Reinvention Awards - MEA, launched in 2023, are designed to honor institutions leading the charge in innovation within the financial services sector in the Middle East and Africa. These awards are an extension of the longstanding Banking Innovation Awards and Innovation in Insurance Awards by Qorus and Accenture. KIB Aqari stood out by meeting stringent evaluation criteria that focused on innovation uniqueness, potential to revolutionize the industry, and the capacity to deliver a long-term competitive edge with a significant return on investment.
The recognition came during a prestigious live ceremony held in Dubai, attended by leaders in innovation from across the region. KIB's success in the "Distribution" category highlights the bank's commitment to staying at the forefront of technological advancements and continuously enhancing the digital banking experience for its customers.
Omar Khalifouh, the Executive Manager of Digital Transformation and Innovation at KIB, expressed his delight, saying, “We are delighted to have been recognized in the first Qorus Reinvention Awards in the MEA region. The prize is a testament to KIB’s unwavering dedication to staying at the forefront of technological advancements, and its continuous efforts to enhance the digital banking experience for its customers.”
Khalifouh also noted that KIB has consistently invested in cutting-edge technology and strategic partnerships to streamline its digital services. KIB provides various digital platforms to cater to its customers' diverse needs. For corporate customers, the Corporate Online Banking platform offers state-of-the-art services and products, while retail customers can enjoy an on-the-go, user-friendly banking experience with the advanced 'KIB Mobile' application.
“KIB has successfully been facilitating digital channels to provide convenient and secure banking solutions to its customers, allowing them to manage their finances securely and effectively from anywhere, at any time,” Khalifouh added.
Fahad Al Saleh, Manager of the Real Estate Advisory Division and the Product Development and Support Division (PDSD) at KIB's Real Estate Department, also expressed his excitement about this achievement. He emphasized that KIB's digital initiatives not only simplify daily banking tasks but also enable personalized financial advice and tailored product offerings.
KIB Aqari, in particular, is a comprehensive platform that caters to all real estate-related needs. One of its standout features is the property appraisal service, which was introduced digitally for the first time in the country. This service allows users to track property appraisal requests and validate appraisals using a QR code. KIB Aqari also offers an automated rent collection service, the ability to track the status of late and overdue rent payments, and many other features designed to enhance the convenience of customers.
Al Saleh summarized by saying, “Such efforts contribute to KIB's all-encompassing and forward-thinking digital transformation initiatives, blending the finest elements from both the banking and business realms, ensuring a modern and user-friendly experience for all customers.”
KIB's recognition in the Qorus Reinvention Awards - MEA underscores its commitment to innovation and delivering exceptional digital solutions to its customers, solidifying its position as a leader in the region's financial services industry. With KIB Aqari as a prime example of their digital prowess, KIB continues to set new standards in the world of banking, benefitting both individual and corporate customers in Kuwait.
Qorus members can access a complete feature including a detailed presentation of all the winners here