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Banking & Finance

Commercial Bank of Kuwait launches virtual banking system powered by TrueConf

The Commercial Bank of Kuwait has deployed TrueConf’s video banking system to connect 68 remote bank branches with its headquarters and enable communication between customers and call centre agents. The traditional bank branch as we know it, with managers and tellers huddled in cubicles working on desktop computers, is due for change. The rise of […]

Mimecast protects Al Abbar Group from malicious emails and targeted threats

With the Al Abbar Group struggling to cope with malicious emails and targeted threats, it turned to Mimecast and implemented its advanced email security services. “Our business communicates almost 100% through email,” says IT Director Manoj Gopalakrishnan. “We have to store email records for a long period to protect our business from claims and litigation. […]

Central Bank of Kuwait’s CDO on transforming the country’s financial sector

With the rapid expansion of the FinTech sector in Kuwait, the country’s central bank is embarking on a landmark digitalisation programme. Tariq Al Usaimi, who as its head of digital strategy is leading the evolution process, tells us analytics and Big Data have become the foundation for transforming the financial sector. Tariq Al Usaimi, the […]

Kuwait announces launch of $200mn technological funding

Kuwait has announced the launch of an initiative to form a $200 million fund for investments in technology. Kuwaiti Deputy Prime Minister and Foreign Minister, Sheikh Sabah Al-Khaled Al-Hamad Al-Sabah, made the announcement at an Arab Economic Summit held in Beirut. The minister said the ‘economic co-operation’ of Arab countries should be the region’s primary […]

Alawwal Bank offers Artificial Intelligence training for all staff

Alawwal Bank, which is based in the Kingdom of Saudi Arabia, has partnered with leading global tech firm, Reaktor, to train its entire workforce on the potential uses of Artificial Intelligence (AI) in banking. Through the AI training, Alawwal Bank hopes to lead the Kingdom’s financial services industry in adopting a technology estimated to contribute […]

Industry experts comment on Collection #1 data breach

Industry experts have been providing comments on the Collection #1 data breach – the largest ever database of breached login details leaked on the Dark Web. Details of the breach were outlined by cybersecurity expert Troy Hunt, a Microsoft Regional Director, in his blog. Collection #1 is a set of email addresses and passwordsmade up of a […]

NBK launches NBK Direct Remit for immediate cross-border transactions

The National Bank of Kuwait (NBK) has launched NBK Direct Remit for cross-border live payments. The system uses RippleNet’s enterprise Blockchain technology solution to provide customers with a frictionless remittance experience and fast cross-border money transfer solutions. NBK Direct Remit is a fast remittance service available online 24/7 for all customers. The bank, which offers […]

Ooredoo to manage disaster recovery datacentre for Boursa Kuwait

As part of its ongoing commitment to provide a secure, robust and cost-effective market place infrastructure, which ensures the continuity of the operations key services in the case of disasters, Boursa Kuwait has signed an agreement with Ooredoo Kuwait, to host the stock exchange’s disaster recovery (DR) datacentre. The signing ceremony was held at the […]

Riverbed to present vision for the future of banking at Dubai event

In a bid to empower Middle East Banking and Financial institutions to deliver the digital experiences that tech-savvy customers now demand, Riverbed, The Digital Performance Company, is set to present its vision for the ‘Future of Banking’ at the IDC Banking & Finance Congress, taking place on December 11 in Dubai. The company has also […]

Banks that harness the power of AI can better serve their customers

Martin Häring, Chief Marketing Officer, Finastra, says banks that harness the power of AI and Big Data will be able to transform for future growth and better serve their customers. As the Fourth Industrial Revolution continues to transform businesses and the way they operate, Artificial Intelligence (AI) is increasingly being viewed as fundamental in improving […]