Walid Mandani, Head of Personal Banking and Private Financial Services for the group in the Kuwait Finance House, said that KFH has completed the procedures and technical tests necessary to launch the service of instant external money transfers using the RippleNet network to a beneficiary account in “KFH-Turkey”. He explained that by joining the global network «RippleNet», financial institutions can implement immediate, reliable and cost-effective transfers. Mandani added in a press statement that KFH will announce very soon the actual operation of the service, confirming the bank’s commitment to apply the latest findings in digital financial services technology, to achieve the best service for customers and give them a modern and distinguished banking experience.
And Mandani pointed out that the instant external transfer service via “Ripplenet” makes it easier for the customer to make cross-border financial transfers through a reliable and widespread global network, using digital blockchain technology, noting that “KFH” was one of the first Kuwaiti banks to join The RippleNet Ripple Network to facilitate instant international money transfers.
He stressed that this step strengthens KFH’s leadership in implementing the strategy of digital transformation, pointing out that the bank was a pioneer in promoting investment in financial technology «FinTech» and digital banking services, while ensuring that it is provided to customers within the highest standards of efficiency and quality.
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