Boubyan Bank Inks a Cooperation Agreement with FinFirst to Offer Its Digital Products and Services
Al-Fouzan: The Agreement Aligns with the Bank's Strategy to Support and Cooperate with Startups
Al-Hubail: Happy to Cooperate with Boubyan Bank, the Leader in Digital Banking Services
As a part of its strategy to cooperate with digital startups to provide the best services, Boubyan Bank has announced the conclusion of a partnership agreement with FinFirst Capital that specializes in providing digital financial services, having recently launched its FinFirst financial services App.
Speaking on the occasion, Hamad Al-Fouzan, AGM & Head of Innovation & Partnerships at Boubyan Bank, stated: “The partnership agreement with FinFirst App aligns with the bank's strategy of investing in digital banking services' development and services that support the growth of the banking industry. This partnership will help Boubyan Bank cope with the latest FinTech developments to enhance business environments and support projects and startups seeking digital banking services."
Al-Fouzan went on to add: “Ever since the beginning, Boubyan Bank has noticed the leap in the FinTech sector, which necessitated taking leading steps towards investing in this field in order to accommodate new developments in the digital services’ markets, especially with many institutions going for a comprehensive digital transformation in their services in view of the developments the world is going through amidst the spread of COVID-19.”
What is the FinFirst App?
Al-Fouzan explained: “The FinFirst App is an open market for banks through which banks can display and offer their financial services and products, while customers interested in such services will only have to sign up to review all displayed bank services and then compare the options. This makes it easier to acquire full knowledge of the privileges each bank separately provides.”
“This partnership will help increase Boubyan Bank's digital sales' channels, as it is an easy and high-quality experience enabling individuals to learn about the unique services Boubyan Bank provides, which are characterized by speed in providing and executing transactions digitally around the clock”, Al-Fouzan added.
On her part, Ms. Afrah Al-Hubail, Chief Operating Officer of FinFirst Capital, stated: “We are happy to cooperate with Boubyan Bank, being the leading bank in providing digital banking services in Kuwait. The FinFirst App is a qualitative leap in financial services, as it gives customers access to banks’ financial services in an easy and a quick verified manner.”
“The App provides customers with several features and services without charging them any fees, such as displaying the services banks provide, comparing products, filing out applications and fully completing the requests for banking services. A customer can sign up to the App then create a financing request, in which the App will offer the financing services that match the customer’s need, allowing him or her to compare the services and apply to any. Then the App will refer the request to the selected bank and if the request is approved, the bank will contact the customer to pay a visit to complete the request.”, Al-Hubail added.
Al-Hubail concluded: “The FinFirst App allows financial service providers to be a part of the digital experience currently witnessed in the Kuwaiti market, provides a solution and a comprehensive integrated interface for financial services that swiftly meet all customers’ needs. Our strategy will provide banks, insurance companies and automobile agents with higher rates of communication with customers and reduce the cost of customer attraction."