Commercial Bank of Kuwait enters strategic partnership with Network International to transform digital banking

Commercial Bank of Kuwait enters strategic partnership with Network International to transform digital banking

Collaboration to enhance payment innovation and digital transformation initiatives

Kuwait, 05 February 2024: Commercial Bank of Kuwait (Al-Tijari), one of Kuwait’s renowned financial institutions, and Network International (Network), the leading enabler of digital commerce across the Middle East and Africa (MEA) region, today announced an intent to strategically collaborate to significantly enhance Al-Tijari’s ongoing digital transformation and payment innovation initiatives.

The partnership marks a significant milestone in the digital transformation journey of Al-Tijari, the second oldest and one of the leading financial institutions in Kuwait. Al-Tijari will leverage Network’s cutting-edge technology and expertise in end-to-end issuer processing capabilities, including fraud detection and prevention, tokenisation, cardholder self-serve application, advanced authentication, and instant issuance, among other services, to offer its customers progressive and innovative digital experiences.

Commenting on the partnership, Sheikh Ahmad Duaij Al-Sabah, Chairman of Commercial Bank of Kuwait, said: “Commercial Bank of Kuwait has a rich history of innovation and excellence in banking services that positions us among international banking standards. The partnership with Network International strengthens our leadership in the industry and signifies our ongoing commitment to our valued customers.”

Abdulaziz Al Zaabi, General Manager, Retail Banking Division, at Commercial Bank of Kuwait, added: “With this partnership, Commercial Bank of Kuwait aims to leverage Network’s vast knowledge and global experience in creating cutting-edge Card Payment solutions. Together, with our banking expertise, we aim to provide our customers with agile, secure, innovative services that are seamlessly executed and exceed their expectations.”

Nandan Mer, Group Chief Executive Officer of Network International, commented, “We are honoured to partner with Al-Tijari, a respected leader in Kuwait’s banking sector. Our collaboration is aimed at delivering innovative digital payment solutions to Al-Tijari’s growing customer base. As a preferred partner for several diverse financial institutions in the MEA region, we are excited to contribute our proven expertise in digital payment solutions to this dynamic partnership.”

“The Kuwaiti market is undergoing significant transformation, driven by unprecedented digital payment adoption,” Mer added. “We are committed to supporting this growth and eagerly anticipate our role in Al-Tijari’s journey towards digital excellence.”

Network International’s local and regional expertise in digital payments and financial inclusion aligns perfectly with Al-Tijari’s vision. This partnership represents a substantial advancement in Kuwait’s digital banking sector and affirms the shared dedication of both institutions to providing innovative financial services in the region.

ENDS

About Network International

Network International is the Middle East and Africa’s largest and leading digital payments company. Our purpose is to help businesses and economies grow by simplifying payments and commerce. We operate in 50+ countries serving governments, banks, fintechs, merchants and public sector companies. We have over 2,000 digital payments experts based in our markets serving over 200 financial institutions and over 150,000+ merchants.