Saturday, July 27, 2024
19.2 C
New York

Commercial Bank of Kuwait to upgrade its payment systems with new Network International partnership

  • Commercial Bank of Kuwait (CBK) has partnered with payment solutions provider Network International for its digital transformation efforts.
  • Network International, headquartered in Dubai and established in 1994, is a regional financial transaction vendor with a track record of serving companies like Codebase, JP Morgan Payments, and WeChat Pay.
  • CBK aims to enhance its payment operations and transition to digital through this collaboration.
  • The partnership will leverage Network International’s technology and expertise in end-to-end issuer processing capabilities, including advanced authentication, fraud detection, prevention, instant issuance, and tokenization.
  • Nandan Mer, CEO of Network International, notes that the Kuwaiti market is experiencing significant digital payment adoption, and the fintech is prepared to support this transformation.
  • Abdulaziz Al Zaabi, General Manager of the Retail Banking Division at CBK, emphasizes the combination of Network International’s card payment processes with CBK’s banking expertise to deliver agile, secure, and innovative services to customers.
  • Sheikh Ahmad Duaij Al-Sabah, Chairman of CBK, sees the partnership as strengthening their leadership in the industry and demonstrating a commitment to valued customers.

Hot this week

Banking as a Service: Meaning, Examples, Benefits and Future

The push for open banking has led to a...

What is Fintech?

Fintech: A term used to refer to innovations in...

Best fintech blogs and websites

Fintech (financial technology) has been an interesting part of...

How to buy shares online

Buying shares online in India has come a long...

Is it worth investing in life insurance over 60?

Is it worth investing in life insurance over 60? As...

Morgan Stanley buys stake in UK business payments start-up Sokin

Key Points:Acquisition Details:Morgan Stanley has acquired a...

New wealthtech start-up Waltz launches US real estate investment platform

Key Points:Launch Objective:Enable foreign investors to invest...

HSBC India partners with Open Financial Technologies to launch FinConnect for business clients

Key Points:Partnership Objective:Simplify payment processes for HSBC's...

FCA issues new guidelines to ensure cash access for consumers and small enterprises

Key Points:Objective:Ensure "reasonable access" to cash deposit...

Social trading app Shares set to exit UK market

Key Points:Market Exit:Shares is set to exit...

UniCredit set to acquire Aion Bank and BaaS provider Vodeno for €370 million

Key Points:Acquisition Agreement:UniCredit has signed a binding...

Kenya’s Diamond Trust Bank taps Network International for digital payment solutions

Summary of Diamond Trust Bank (DTB) and Network International...

Rabobank taps Zafin to upgrade pricing, billing and invoicing capabilities

Key Points:Partnership Announcement:Rabobank has partnered with Zafin,...

Related Articles

Popular Categories

spot_imgspot_img