Kuwait Finance House (KFH) has announced the launch of ‘Baitek’, its digital account opening solution designed and developed by their key technology partner, Aion Digital.
Aion’s E-KYC and digital onboarding solution has now been approved by three regulators in the GCC region, the latest one being the Central Bank of Kuwait (CBK).
As KFH is preparing to launch its digital account opening solution at the end of November, it becomes the first bank in Kuwait to receive formal regulatory approval for digital onboarding and account opening services.
This service will allow new to bank customers to open a bank account in less than five minutes and with few clicks without ever having to visit a branch.
The KFH App is available in Arabic and English for iPhone and Android devices. Customers can enter the application and complete banking transactions with ease through "Face ID", or with one touch via fingerprint technology.
KFH selected Aion as a key technology partner because of the shared vision, agile and fintech mindset, and to deliver innovation on the go.
Aion’s digital banking platform offers unique features to enable exceptional customer experience and to reduce operational cost, it includes core capabilities like MRZ auto scan, full forensic analysis, OCR capabilities, selfie recognition, facial recognition, selfie cross-validation, data cross-validation, video conferencing, integration with the government for electronic signature, intelligent workflow engine, and an innovative KYC engine.
The success of Aion’s platform is due to the state-of-the-art technology that comes with microservices architecture, full dockers and containers framework, and a complete mobile first digital journeys including back-office digitisation.
Financial Institutions choose Aion’s Digital Banking Platform because it brings strong Open Banking APIs and integration capabilities, enhanced orchestration of key services at multiple layers, comes pre-integrated with mobile-first digital journeys and delivers modular architecture to enable speed to market at low cost while delivering a high return on investment (ROI).
Aion’s platform is built on a “plug-and-play” architecture making it flexible, extremely secure, and highly configurable. This allows banks to respond to ever-changing market conditions and customer behaviors and to stay ahead of the technology curve, assuring their customers consistently receive an exceptional digital engagement and experience.
Aion Digital build intelligent digital banks, headquartered in Bahrain and offices in UAE, KSA and Pakistan, Aion offers innovative digital banking platform and solutions to enable banks to go digital with low risk, low cost and high return on investment.
Aion digital is the winner of multiple prestigious awards like “2020s Leading Digital Banking Solutions Provider – Middle East” by Global Excellence Awards and “One of the most exciting innovative fintech startups across the globe” by Fintech Abu Dhabi & ADGM.
Aion has also recently won “Most Innovative Digital Banking Solution – Bahrain 2020” award by Global Business Outlook. -- Tradearabia News Service
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