Kuwait Times, Thu, Mar 07, 2024 | Shaban 26, 1445
KIB launches Kuwait’s first bank-led digital marketplace KIBPayTally App
Kuwait:
Kuwait International Bank
(KIB) held a special press conference to announce the launch of Kuwait’s first
bank-led digital marketplace, the KIBPayTally App. A leader in Islamic banking
solutions, KIB’s pioneering initiative marks the first time a bank in Kuwait has
created a platform to serve as a specialized digital marketplace, catering to
the diverse needs of its customers’ modern lifestyles by allowing them to access
everything they need in one place across various categories, in addition to the
exclusive KIB store.
Commenting on the launch, Othman Tawfeqe, General Manager of the Retail Banking
Department at KIB, said: “This initiative represents a significant breakthrough
in the field of digital Islamic banking solutions and serves as a testament to
our dedication to offering exceptional products and services. These offerings
are designed to meet our customers’ needs comprehensively and align with their
lifestyles. Furthermore, the KIBPayTally application will enhance the customer
experience, especially during the holy month of Ramadan, by providing seamless
and beneficial features.”
Speaking at the press conference, Tawfeqe added: “The launch of the new
application, which adheres to Islamic banking principles, in conjunction with
our Ramadan campaign embodies the holy month’s spirit of generosity, and KIB
stands proud as a community partner, offering financial solutions that are both
accessible and advantageous. Our focus this Ramadan is not just on facilitating
easy and convenient transactions, but also on fostering generosity and making
wishes come true, be it through purchasing a new car or building a dream home.”
On his part, Mohamed Atef El-Shareef, General Manager of the Digital Innovation
and Data Intelligence Department at KIB, stated: “The new app stands out as the
first digital marketplace introduced by a bank in Kuwait, allowing users to
shop, finance and track their applications in real-time with complete ease. It
is crafted to bring about a significant improvement in how customers access
financing services and enjoy a comprehensive browsing experience, without the
hassle of visiting multiple websites or locations.
The KIBPayTally application is user-friendly and equipped with distinctive
features specifically designed to enhance the digital marketplace concept
through exclusive deals not found at any other marketplace destination.
Moreover, it enables customers to compare products across various categories,
ensuring accuracy and trustworthiness in their choices before making a
purchase.”
Meanwhile, Abdulrahman Al-Bahar, Assistant Manager of Central Sales in the
Retail Banking Department at KIB, remarked: “We are confident that KIB’s
innovative app will ensure convenience and security by facilitating transactions
through simple steps, anytime and anywhere. This eliminates the necessity of
visiting branches, making the experience more efficient and effective.
Notably, applying for financing via the KIBPayTally app does not require
customers to transfer their salaries to the bank.” He pointed out that KIB
provides a range of flexible financing options through the application with
payment plans from 3 months and up to 60 months, ranging between KD 300 and KD
25,000, to meet the needs of the widest possible customer base, including both
customers and non-customers, as well as citizens and residents alike.
Further discussing what KIBPayTally offers, Musab Al-Shalan, Deputy General
Manager of the Retail Banking Department at KIB, said “Through this new app, KIB
will manage to bring together a wide array of its partners in the KIBPayTally
program under a single umbrella, creating a comprehensive market place
destination.
This will enable the bank to offer its customers innovative and flexible
financing solutions across various sectors, such as automobile financing,
medical financing, financing for overseas treatment, educational financing, as
well as financing for furniture, electronics and gaming, among other financing
services. These offerings further solidify the bank’s leadership in pioneering
digital banking innovation strategies.”
Al-Shalan invited everyone to download the KIBPayTally application and explore
the opportunities offered this Ramadan. With its user-friendly interface,
comprehensive range of services, and exclusive deals, the new application is set
to change the landscape of digital banking and financing in Kuwait. He also
encouraged following the bank on its social media platforms and visiting its
website to find out more information about KIBPayTally.
It is worth noting that KIB is committed to providing the best banking and
financing solutions to the largest number of people in the community, affirming
its position as a leader in the Islamic banking sector, and stemming from its
main slogan ‘Bank for Life’.