May 2021, London, UK: Today, Mobiquity, a full-service digital transformation enabler, announced its partnership with Kuwait International Bank (KIB), a collaboration designed to support the Bank’s ambition of becoming a leading digital-centric Islamic bank.
Through this collaboration, KIB is harnessing Mobiquity’s team of A-list talent – which includes strategy, design, and engineering capabilities – to help build a new digital-focused bank for its retail and corporate customers.
As part of the long-term partnership, Mobiquity is building a digital experience from scratch - launching a range of digital products to attract new KIB customers to its platform. The project will involve designing and developing digital products to deliver a frictionless digital banking experience.
For the initial launch, Mobiquity is developing a selection of digital banking products, including a seamless digital onboarding experience, a current and savings account, payments services and Personal Finance Management (PFM).
The new digital banking experience is expected to be available for retail customers starting the summer of 2021, and the migration of KIB’s corporate clients to the new platform will follow shortly thereafter.
Commenting on the partnership, Philip Nordenfelt, Innovation and Digitization Advisor said: “KIB recognised that there were gaps in the digital financial market in Kuwait, with several opportunities available to develop this segment in its proposition and scalability. In fact, there is a clear opportunity for KIB to lead the market in digital banking. We chose Mobiquity as our development partner due to the quality of the team and their rich digital banking experience in strategy, UX design, and software development.”
Thierno Diallo, VP of Client Delivery, Mobiquity said: “We’re honoured to work with KIB to build and innovatively enhance whilst digitizing banking products and services to better serve their customer base with ease and convenience.
“Through a frictionless digital banking experience, customers will be able to set up a bank account in less than 5 minutes - a new and unique provision for Kuwait’s retail and corporate banking customers, to respond to the increased demand for digital banking.”
Mobiquity is a full-service digital transformation enabler that delivers compelling digital products and services that serve a purpose, by blending strategy, creative and engineering. We apply a sector agnostic approach to human centered innovation applied with in-depth industry expertise.
Founded in 2011 with a focus on mobile technology solutions, Mobiquity has adapted to client needs across 9 different geographical locations, providing end-to-end omnichannel digital services to leading B2B and B2C brands.
Mobiquity’s global team of 800+ employees serve over 100 million users every day. The company takes shared ownership and accountability throughout the entire clients’ project life cycle, enabling digital transformation success.
Kuwait International Bank (KIB) is a bank that operates according to the Islamic Shari’ah, based in the State of Kuwait. Incorporated in 1973, and originally known as Kuwait Real Estate Bank, KIB made the transition to its current Islamic operating model in 2007. In 2018, KIB embarked on a new phase of its journey full of innovation and development. As part of its new strategic direction, the Bank focuses on offering a next-level customer experience under the slogan: “Bank for Life”.
Through a network of branches spread across the State of Kuwait, KIB offers a broad range of banking products and services, as well as innovative digital banking solutions in line with international best standards. As part of its duty towards the community, the Bank also encompasses a leading social responsibility program that aims at positively impacting all members of the community through a wide range of impactful initiatives and activities.
Today, KIB has taken concrete steps in implementing its new strategic objectives. The Bank has cemented its role as a key player in the local banking industry and has continued to maintain its strong financial performance; enabling it to be globally recognized for its strong credit rating and financial position.
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