Al -Ghanem:
- "The Bank has become one of the unique economic and financial initiatives in the region and the world"
- "Warba Bank is a pioneer in the Islamic banking sector in Kuwait"
El-Shareef:
- "Warba Bank is just around the corner from leading the digital banking sector”
- “Al -Wateen” is the fruit of the second phase of an ambitious strategy that injects inspiration and digital creativity “
Warba Bank is steadily moving into a new era of development and innovation in enhancing its digital structure. This is the result of a number of achievements that the Bank has accomplished over the past years, by injecting investments to keep abreast of the technological era in order to cater to the growing customers’ demand towards the digital banking services in a time where smart phones have become virtual banks for customers’ banking transactions.
Today, Warba Bank's tops its efforts by the launch of the digital factory Al- Wateen, through which the Bank's team will develop and innovate exclusive digital products and services that will pave the way for a revolutionary new era in the digital banking sector. Al-Wateen is the output of the Bank’s strategy which aims, amongst other targets, to position the bank as a pioneer in digital banking services and increase its market share in this framework.
Speaking at the Al-Wateen launch press conference, Shaheen Hamad Al- Ghanem, Chief Executive Officer of Warba Bank, said that Al -Wateen is the result of a journey of efforts and perseverance that has been accompanied by many challenges and difficulties, as well as achievements and successes. He elaborated:” In 2009, the Kuwaiti government granted shares to the general public of Kuwait by establishing the Islamic Bank of Warba and distributing 76% of its shares to the citizens; it was the first bank in which all the Kuwaiti people participate without exception as a grant to all, hence the bank became one of the unique economic initiatives and finance at the regional and global levels. "
Under the slogan “One of You," Warba Bank emerged from Kuwait to serve every Kuwaiti on the homeland, and embarked on its journey despite all the challenges and economic difficulties that plagued the region at that time. It went on with determination and perseverance driven by its responsibility towards shareholders and clients whom confidence has consisted the solid platform and motivation for the bank to excel in its services, products and solutions, which are now an example in the Islamic banking industry in Kuwait and define the leading position the Bank enjoys nowadays in the Islamic Banking sector despite the fierce competition.
Al-Ghanem pointed out that the ten years of hard work enabled Warba Bank to become the leading bank in Kuwait” “It is the fastest growing bank in the Kuwaiti banking sector, which has been able to make its way through fierce competition and prove its fingerprint in the development and promotion of this sector according to an innovative strategy; The Bank today has a strong customer base and continues its ascendancy with great strength to achieve its first and foremost ambition to join the ranks of the leaders, introducing a new era in the Islamic banking industry; “ Our capital increase enables us to inject needed investment to support our growth and build a creative future along with our shareholders”.
Al-Ghanem stressed that the future will be bright for Warba Bank in line with its strategy of 2017 to reach a series of objectives, including increasing profitability, offering pioneering services to clients while continuing to build its corporate franchise, provide best customer service, and develop exclusive digital banking capabilities while securing further growth.
Al- Ghanem explained that the bank has been able to complete the first phase of the strategic change which resulted in the development of sales and structure of profitability; in 2018, the bank started the second phase of its strategy, which focuses on strengthening its digital capabilities and making every possible effort to be able to compete in an unconventional manner to meet the global trend in the banking industry. He stressed that this deliberate trend will reduce the costs in terms of expanding its network of branches, and enables the bank to overcome competition in the retail banking market by providing distinctive digital services that achieve the goal effectively.
Al- Wateen is defined as the vital artery in the human body responsible for pumping blood to all its organs. Thus, Warba’s Al -Wateen, will be responsible for infusing digital services and products innovated by a creative team of professional innovators in the digital banking.
Under the slogan "One of You," Warba Bank is at the forefront of its concerns that Al -Wateen should be the source of inspiration to the entire Kuwaiti community from which it has emerged. Each Kuwaiti is a shareholder at Warba, which increases the Bank's responsibility to care of each member of this community, connect with him, while meeting all requirements of digital banking services that draw the future of this vital sector.
Speaking about Al -Wateen, Mr. Mohammed Atef Al -Shareef, Head of Strategic Planning Group at Warba Bank, said: "Al -Wateen is the product of Warba Bank's strategy set in 2017, through which it aims at championing the Islamic digital banking market and pioneering the corporate and investment’s sector in Kuwait. “The last three years have witnessed a number of achievements in this regard in all operations of the bank, and Al -Wateen has emerged after a series of research and studies that has concluded the imminent need to change the mechanism by which the Bank works, to introduce digital products unprecedented in the history of the banking industry, through which it provides digital products and services that meet customer expectations.
Al-Shareef elaborated: “Al -Wateen is a digital center based on the cross-function between the different departments of the Bank for digital innovation. At the digital factory, the work will be done, by taking into consideration that the customer is the first focus of attention and he’s to receive top-notch services according to criteria of speed, confidence and predictability of customers’ needs”.
Al-Shareef stressed that Al- Wateen is the reliable engine towards the future through which the Bank's team will refute everything that is traditional in the banking industry and broadcast digital life into it, to benefit the customers and create communication tools between them and their surroundings in which the Bank will take part; it’s set to be an important source of inspiration for every trader of Warba Bank whether he is a client, employee or shareholder who will be proud to belong to this leading banking institution”. He explained that many of Al -Wateen products will see the light gradually until December.
Al- Wateen’s first output, is the introduction of a fully integrated smart phones application which was unveiled during the press conference as the first application of its kind to offer solutions that bring us together! And carries fundamental changes either from the look or smooth interaction in addition to the vibrant colors added to it. The new application is designed to give customers an enjoyable journey through its features. It provides easy and versatile access to many services. It also allows users to add a personal touch to every account they have with Warba Bank, by selecting pictures and names to these accounts and their friends from the beneficiaries.
The application also provides a quick access feature that allows the customer to complete transactions quickly and easily, such as money transfers, recharge the card and request payment without the need to fill any application. Another distinguished feature of Warba’s new application is to enable the customer to create l his "social circle" by controlling family accounts, adding beneficiaries and creating a savings community with parents or friends; Among the advantages of the application is also the "smart platform" feature that shows the customer how to control all expenses and follow up the details of these expenses which enables him to make smart decisions of expenses’ limit and control, and this is just the beginning...
Warba Bank also unveiled the digital “Jam3eya” feature, which enables customers to create their own Jam3eya online through the application, and invite up to 11 people from friends or family to participate in. Under this unique digital service, the application of Warba Bank eliminates the traditional concept and all burdens resulting from it; while replacing it with a modern, easy and flexible digital concept. The customer creates the Jam3yea through the application, accordingly a text message will be sent to participants for acceptance or rejection; through the Jam3eya, customer can follow up settlements and timing of payment as well as specify the month that he would like to benefit from Jam3eya.
Al-Ghanem concluded that Warba Bank's journey has witnessed many successes in all operations and today it is determined firmly to inject modern life into the banking sector in accordance with the highest international standards, paving the way for the pioneering position in this sector; he said: “It’s only the beginning and more to come”
