SAP and Kuwait Credit Bank were honored at the Asian Banker Middle East and Africa International Banking Convention held recently in Dubai, UAE.
With SAP software, the Bank now makes it significantly more convenient and comfortable for citizens to apply for a loan, and they can obtain approval with minimum effort. In addition, the bank has increased employee productivity by 95 percent and eliminated human error and manual input processing.
“We are always striving to provide a satisfactory experience for our customers, and we have greatly improved the efficiency and productivity of our offerings with analytics solutions from SAP,” said Tariq Al-Usaimi, CIO, Kuwait Credit Bank. “With SAP, we have shortened the loan approval process from two days to less than five minutes. We are very pleased to be honored by The Asian Banker, and we will continue to use the latest technology to make it easy for Kuwaiti citizens to bank.”
The best lending platform implementation award honors successful projects that provide banks and financial institutions with the ability to differentiate lending products and services, manage risk and credit exposure, and pursue new market opportunities within new segments.
“We congratulate Kuwait Credit Bank on winning the Asian Banker Technology Implementation Award. With their innovative simplification of their IT to support five-minute loans, they have demonstrated best practices in the banking and finance sector. Kuwait Credit Bank shows how analyzing Big Data can make a major impact on Kuwaitis’ lives.” said Gergi Abboud, managing director Gulf and Pakistan, SAP Middle East & North Africa LLC.
