Bank of Bahrain and Kuwait plans to go ahead with a digital transaction banking platform, media reports said. The platform is offered by Intellect Design Arena, a leading financial technology for banks, insurance and other financial services. The platform is anticipated to promote the Bank of Bahrain and Kuwait’s growth in the future.
Abdulrahman Ali Saif, Group Chief Executive, BBK told the media, “BBK is leading the digital revolution in Bahrain with digital transformation projects. The Bank is known for its leadership in deploying technology enabled services and in retaining that position, understanding how imperative it is to have a digital environment that supports innovative, customizable and rapidly deployed products. Our new integrated transaction banking platform “BBK BanKey” allows clients—both SMEs as well as multinational corporations—to consistently view, monitor and control their consolidated financial data.”
It is reported that more than 40 banks across Asia, the Middle East, India and Africa use Digital Transaction Banking Platform. According to Intellect Design Arena, its platform would benefit the Bank of Bahrain and Kuwait in terms of cost to provide innovative services for corporate clients.
“This cash management platform has been equipped with sophisticated payment, reconciliation and liquidity management solutions that go well beyond what it is currently available in the Bahrain market and is accessible through electronic channels including mobile application—a first in Bahrain that enables our corporate clients to access their accounts anywhere, at any time, irrespective of the jurisdiction they operate in—ensuring BBK is their trusted banking partner,” Ali Saif said.