Warba Bank first in Kuwait for e-signatures and online account opening
Kuwait © Wikipedia
It’s a digital double as Warba Bank has launched the “first” e-signature function and online account opening in Kuwait.
Called “Express Finance”, the e-signature is the result of an agreement between Warba and Kuwait’s Public Authority for Civil Information. It allows users to authorise the bank to view their information on the credit network (Ci-net) without having to report personally to the bank’s branch.
The “Express Account” allows its clients to open an account online without the need to visit a branch at the first stage. Once the application is ready, the customer visits the branch to collect the card and sign the papers.
Last year was pretty good for the bank. In its 2016 financial results, it reported an increase in net profit of 158%, totalling KWD 2.57 million ($8.4 million) compared to KWD 1 million ($3.2 million) in the same period last year. It says these profits were a product of growth in total revenues, resulting from the “solid performance of all business units”.
Warba is an Islamic bank that provides retail, commercial and investment banking services. It has ten branches and over 400 employees.
In terms of technology, Warba uses the Flexcube core banking system from Oracle FSS.
