Kuwait’s famous banking network, Kuwait Finance House (KFH) launched its 3rd digital self-banking platform KFH-Go in Al-Mangaf. KFH is already in collaboration with Ripple and uses its remittance services for cross-border payments.
Ripple is showcasing its worth as it keeps on improving with its technology and provides in-depth services to the financial firms. RippleNet has proved its reliability day in and day out, and that’s the reason, world top firms have shown trust in Ripple.
KFH is one of Kuwait’s first financial networks that joined Ripple. This new automated branch is set to work 24 hours with advanced technology that will add an extra benefit to the banking system. The new self-banking channel is set to bring diversity with more effective customer service.
The new branch ‘KFH-GO’ will offer customers with services which would cover 80% of the transactions given by conventional branches. This will attract young customers and help the branch to widespread its roots.
KFH opens digital
in Mangaf Co-op
bank introduced a fast cross-border transfer service
(KFH Xpress) and operated an instant remittance serv-
ice using RippleNet
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) July 29, 2019
Using Ripple’s services (RippleNet), KFH has made some serious advancements and has transformed its system which provides users with a rapid and reliable service. The support of the digital payment system has added variety to KFH banking network that provides users with new e-services across the country.
KFH has made a new inclusion to its customer service by launching ‘Xpress,’ which is a fast cross-border payment service that uses RippleNet. When customers choose KFH Xpress for money transfer, it would be convenient, affordable, accessible, and secure. Users can transfer money anywhere, anytime by using KFHonline or KFHonline mobile application.
Through Xpress, KFH users would be able to transfer money 24/7 including weekends and official holidays. They will have a variety of options to receive payment; cash pick up, transfer to an account, or even get it door delivered. It also provides the opportunity to cancel the transaction with no fees, if the money is not collected from the desired destination.
Ripple has been a potential partner to Kuwait and Saudi Arabia’s top financial firms. Managing Director for South Asia at Ripple, Navin Gupta said earlier this year:
“Kuwait and KSA are large economies in the Gulf Cooperation Council and Ripple is excited to get customers of KFH to send instant payments into Al Rajhi Bank in Saudi Arabia. In 2019, we will work with KFH to deliver quicker, cheaper payments to many more countries.”
Ripple is expanding rapidly, and its adoption by top financial firms of the world has increased its worth among the crypto world. It glorifies what Ripple has added to the world’s financial ecosystem and what more is to come.
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