The Banking Executive Magazine - March 2024 Issue

ISSUE 183 MARCH 2024 the BANKING EXECUTIVE 39 FinTech and AI Chornicle actions, but also on fostering gen- erosity and making wishes come true, be it through purchasing a new car or building a dream home.” On his part, Mohamed Atef El-Sha- reef, 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, fi- nance and track their applications in real-time with complete ease. It is crafted to bring about a significant improvement in how customers ac- cess financing services and enjoy a comprehensive browsing experi- ence, without the hassle of visiting multiple websites or locations. The KIB PayTally application is user- friendly and equipped with distinc- tive features specifically designed to enhance the digital marketplace con- cept through exclusive deals not found at any other marketplace des- tination. Moreover, it enables cus- tomers to compare products across various categories, ensuring accu- racy 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 con- venience and security by facilitating transactions through simple steps, anytime and anywhere. This elimi- nates the necessity of visiting branches, making the experience more efficient and effective. Notably, applying for financing via the KIB PayTally app does not require cus- tomers to transfer their salaries to the Bank.” He pointed out that KIB pro- vides 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 cus- tomer base, including both cus- tomers and non-customers, as well as citizens and residents alike. Further discussing what KIB PayTally offers, Musab Al-Shalan, Deputy General Manager of the Retail Bank- ing Department at KIB, said “Through this new app, KIB will manage to bring together a wide array of its partners in the KIB Pay- Tally program under a single um- brella, creating a comprehensive marketplace destination. This will enable the Bank to offer its customers innovative and flexible financing so- lutions across various sectors, such as automobile financing, medical fi- nancing, financing for overseas treat- ment, educational financing, as well as financing for furniture,electronics and gaming, among other financing services. These offerings further so- lidify the Bank's leadership in pio- neering digital banking innovation strategies.” Al-Shalan invited everyone to down- load the KIB PayTally 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 fi- nancing in Kuwait. He also encour- aged following the Bank on its social media platforms and visiting its web- site to find out more information about KIB PayTally. It is worth noting that KIB is commit- ted 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 stem- ming from its main slogan ‘Bank for Life’.