Kuwait Finance House (KFH) and MoneyMatch have announced a strategic collaboration to provide cross-border payments for KFH’s customers.
This partnership marks MoneyMatch’s maiden entry to provide enterprise solutions via its newest product BankFX.
In a statement Kuwait Finance House says customers will be able to enjoy low-cost and simple cross-border transfers with 38 available currencies across 58 countries.
Transactions through BankFX will utilise Blockchain technology
Kuwait Finance House (KFH), a member of RippleNet, recently started operating an instant cross-border remittance service, Instant International Transfer, using Ripple’s Blockchain technology.
KFH announced this significant milestone after completing technical preparations and conducting a number of pilot tests and then obtaining Central Bank of Kuwait approval.
KFH has lately implemented chatbots on the bank’s banking platform be it online or mobile which is available to customers 24/7, this improves service especially to our millennial customers.
KFH implemented a Robotic Process Automation (RPA) program to streamline internal processes for customer financing transactions increasing efficiency and reducing processing time.