Commercial Bank of Kuwait to upgrade its payment systems with new Network International partnership
Commercial Bank of Kuwait (CBK), Kuwait’s second oldest bank, has tapped payment solutions provider Network International to power its digital transformation efforts.
CBK partners Network International for digital revamp
Dubai-headquartered Network International, launched in 1994, is a regional financial transaction vendor, and has previously extended its solutions to the likes of Codebase, JP Morgan Payments and WeChat Pay.
CBK, which provides commercial and retail financing services, projects that the collaboration will “significantly enhance” its payment operations and continued shift to digital.
The bank claims it will achieve this by utilising the fintech’s “technology and expertise in end-to-end issuer processing capabilities”, which include solutions for advanced authentication, fraud detection and prevention, instant issuance and tokenisation, among other offerings.
Nandan Mer, group chief executive officer of Network International, explains that “the Kuwaiti market is undergoing significant transformation, driven by unprecedented digital payment adoption”, and the fintech is ready to support this technological evolution.
Abdulaziz Al Zaabi, general manager, retail banking division, at CBK, says that by combining Network International’s card payment processes with CBK’s “banking expertise”, the pair will seek to provide customers with “agile, secure, innovative services”.
Adding to this, Sheikh Ahmad Duaij Al-Sabah, chairman of CBK, claims the partnership “strengthens our leadership in the industry and signifies our ongoing commitment to our valued customers”.
