Boubyan Bank Uses NCR Technology to Launch Kuwait’s First Mini Bank Concept
NCR Interactive Teller at bank’s branch in Kuwait International Airport uses remote assisted service to deliver personal touch to customers
SAFAT, Kuwait – December 15, 2014 – Boubyan Bank, the fastest growing bank in Kuwait, continues to change the concepts of traditional banking services with the launch of its “Mini Bank” concept for the first time in Kuwait. The Mini Bank, launched in cooperation with NCR Corporation, the global leader in consumer transaction technologies, is powered by NCR Interactive Teller, which enables Boubyan’s centrally located video tellers to remotely deliver 95 percent of the teller services typically available at a traditional branch, across expanded hours and location.
The Mini Bank concept is opening at the Kuwait International Airport in November, giving Boubyan customers access to their banking needs on the go. The small branch footprint concept opens up new opportunities for the bank, giving it an innovative approach to expanding its presence to customers in new locations where it could not previously have justified a full-size branch.
The new branch, through NCR Interactive Teller, will offer teller services nearly around the clock – from 8 a.m. to 2 a.m., seven days a week.
NCR Interactive Teller is ATM-based technology that not only lets people talk to live remote teller, but also gives the teller remote control over the machine to conduct transactions, such as cash deposit and dispense with specific denominations, transfer between accounts, as well as cash or cheque acceptance without a card.
The NCR Interactive Teller Machine is equipped with a UV-enabled civil ID scanner and signature pad in order to identify the consumers, authenticate them, and request their approval to conduct transactions, in addition to the traditional card and pin authentication method.
“The first Mini Bank will initially be available at Boubyan’s branch at Kuwait Intl Airport, but the bank is planning to roll out more NCR Interactive Teller Machines throughout other prime locations in the country based on our customers’ feedback with whom we are continually in touch through social media” said Mr. Fahd Al-Fawzan, General Manager of Sales and Distribution Channels, Boubyan Bank.
Dr. Waleed Al-Hasawi, Boubyan Bank’s Head of IT, commented, “The Mini Bank is one of many technology innovations developed in partnership between Boubyan Bank team and NCR Corporation. Boubyan Bank is leading the way when it comes to implementing new technology innovations as part of our information technology strategy to offer Boubyan Bank customers’ a differentiated customer experience.”
“We are really excited to have been able to provide this technology experience to a pioneering bank such as Boubyan, and we are confident that this technology will transform the bank to leverage optimal productivity from staff while providing a personal touch with their customers,” said George Flouros, vice president for NCR Financial Services in the Middle East/Africa region. “As the first bank in Kuwait to deploy NCR Interactive Teller, Boubyan Bank will be able to use this remote assisted service technology to meet their customers’ needs and provide them with a differentiated and exceptional experience.”
About Boubyan Bank
Boubyan Islamic Bank was established under the name of Boubyan Bank in 2004 according to the Emiri decree number 88 to practice all banking, financial and commercial activities in accordance with the Islamic Shari’a. Boubyan Bank is the fastest growing bank in Kuwait with total assets compounded annual growth rate of 23% between 2009-2013. With the vision and aspiration to become one of the top 5 Islamic banks in the world, Boubyan bank is committed to fostering creativity and innovation in the products and services offered to its customers. Website: www.bankboubyan.com
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 485 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with approximately 29,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries. The company encourages investors to visit its web site which is updated regularly with financial and other important information about NCR.
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