NBK sets strategic blueprint for a digital future

The National Bank of Kuwait (NBK) aims to stand at the forefront of digital innovation and set new benchmarks in Kuwait’s banking sector. 

NBK’s Deema Shaath, head of consumer banking digital strategy, discussed the transformative journey the bank has embarked on. Shaath highlighted the significant role of digital transformation in enhancing customer experiences and operational efficiency. She shared that NBK’s digital initiatives are not just about adopting new technologies but are deeply integrated with the bank’s mission to provide superior banking services that meet the evolving needs of its customers, especially the younger, digitally savvy demographic.  

The banking landscape in Kuwait is seeing a shift towards digitalisation, influenced by global trends and local demands for more accessible and efficient banking solutions. The regulatory environment, spearheaded by the Central Bank of Kuwait, has been supportive, fostering innovation while ensuring stability and security in the banking sector. The launch of its digital-only bank, Weyay—before the start of a more stringent digital banking licensing regime—underscored NBK’s proactive stance in seizing the opportunity to lead in digital banking. 

Shaath emphasised the continuing evolution of payment and banking infrastructure in Kuwait to facilitate and accelerate the integration of digital services into everyday banking operations. NBK’s strategic initiatives, including the establishment of a Group Digital Office and Weyay, highlights the bank’s commitment to leveraging technology to cater to the needs of its customers. Weyay is tailored to resonate with the younger demographic, offering a suite of services designed to enhance their banking experience in a language they understand. 

Shaath added that the bank’s initiatives, particularly in customer experience, product innovation, and regulatory compliance, are aimed at creating the industry benchmark for digital banking in Kuwait and the region. She believes NBK’s approach not only reflects the current trends in digital banking but also anticipates future developments, ensuring that it remains at the forefront of the digital banking revolution.