Chief Retail Banking Officer at Kuwait Finance House (KFH), Mohammad Nasser Al-Fouzan has announced the successful completion of an ICT project to upgrade its existing banking system, which allows it to offer an integrated state-of-the-art Shari’a compliant financial services to the Real Estate Industry.
Al-Fouzan added that The ETHIX Finance solution replaced an obsolete system, allows KFH to continue competing in the Middle East Real Estate market, creating an opportunity for growth within the Bank.
He went on to say that KFH has been able, through its flexible and reliable ETHIX Finance solution, to achieve a number of additional benefits such as reducing operational expenditure as it maintaining and supporting only one support system. This saves the operation department valuable time by eliminating manual data entry and management and integrates automatically with the financial institutions salary system, customer deposit programmes and central data management systems. All of these additional benefits allow for timely execution of customer banking services, refining the customer experience and increasing management efficiency across the bank’s processes.
He said that by investing in ETHIX, we can now offer our customers Islamic Real Estate financial products, allowing us to start competing in this market. All credit due to the teams involved that worked tirelessly in order to deploy these services and implement this successfully within the timeframe.”
Al-Fouzan explained that the Sharia’-compliant ETHIX solution is designed to support KFH to reach operational excellence, accommodate growth and achieve cost leadership in the terrain of financial services.
He continued “ETHIX provides multi-channeled corporate and retail products and services in Islamic finance and investment including core banking, trade finance, branch automation, online banking, dashboards and reports in addition to other products and services that represent an answer to the challenges encountered by the KFH and can serve to enhance its competitive edge”.