Kuwait Finance House Rolls Out The First Sharia-Compliant Digital Bank
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Kuwait Finance House (KFH) has rolled out the first Sharia-compliant digital bank known as Tam Digital Bank in Kuwait. The launch is a significant milestone for KFH and part of the bank’s digital transformation journey.
The bank believes that this platform’s modern design, user-friendliness and efficient usage would boost confidence that Tam will meet its customer desires and exceed their expectations. The launch will allow the bank to account for speed, safety, innovation, and quality for an easy banking experience.
Kuwait Finance House’s Digital Transformation Journey
The launch of Tam Digital Bank is part of the digital transformation strategy by the institution. The bank has always taken a leadership position regarding financial performance, cutting-edge infrastructure, innovative banking solutions, financial inclusion, and geographical reach, among other areas.
Those planning to create a Tam account must be at least 15 years old, hold a civil ID, and have a smartphone to download a Tam application. Users will not be required to submit documents or visit a physical branch. A Tam account will give customers access to a wide range of banking services and reward points.
Boosting Customer Experiences
This Sharia-compliant digital bank also adds to KFH’s commitment to enhancing customer experiences, especially for young customers.
The CEO of KFH Kuwait, Khaled Yousef AlShamlan, opined that the launch of Tam Digital Bank added value to customers. This bank would deliver high-quality banking services through innovative and unique digital banking experiences aligning with the modern lifestyle of the youth.
AlShamlan also said that the Tam Digital Bank combined user-friendliness and creativity to bolster social media engagement for customers to engage with rewards with offers.
“Through Tam, youth will receive many benefits, including (opening an account, transferring student allowance, tracking expenses, transferring funds), in addition to rewards program, point, offers and exceptional discounts that meet all their needs, as well as 24/7 customer service,” AlShamlan said.
AlShamlan also noted that KFH was leading in digital banking and succeeded in releasing many digital banking experiences and solutions. The bank digitized its offerings for better customer experiences and fast and secure banking services.
The CEO has also thanked those that contributed to the development of this digital bank saying that its success would be measures through the positive experience of customers using a revolutionary platform.
