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NBK launches Kuwait’s 1st digital bank Weyay

NBK launches Kuwait’s 1st digital bank Weyay
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Mubasher: The National Bank of Kuwait (NBK) has launched Weyay to be the first fully digital bank in Kuwait to serve the youth in the state.

Weyay aims to enhance NBK’s position in digitising banking services, according to a press release on Wednesday.

CEO of NBK – Kuwait, Salah Al Fulaij, commented on launching the digital bank by saying: “Weyay” provides an array of innovative digital banking services and solutions designed by NBK youth cadres for their peers of Kuwaiti youth.”

Al Fulaij added that it is necessary to initiate a new generation of digital services, since two thirds of Kuwaiti nationals are younger than 34 years old and the country has one of the highest smartphone and internet penetration rates worldwide.

NBK Group Deputy CEO, Shaikha Al Bahar, said: “Now, we are starting a new chapter in which we continue to invest in developing our digital platforms and increase reliance on Artificial Intelligence (AI); out of our belief that digital advancement is the main driver of future growth across all the markets in which we operate.”

Al Fulaij noted that upgrading Weyay services will be “an ongoing process starting from the launch in order to meet customers’ needs.”

A research by NBK showed that 80% of youth customers seek tools that help them set personal saving goals and track their money. The bank will therefore use Weyay to offer an integrated package of advanced products and services.

 It is worth noting that the Kuwaiti lender is also trading on the Egyptian Exchange (EGX).