NBK named “Best Financial Innovation Lab in Kuwait for 2022” by Global Finance

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NBK wins this prestigious award for the second year in a row, being the first bank in Kuwait pioneering the innovation field in the country and the region…reports Asian Lite News

National Bank of Kuwait’s (NBK) Group Digital Office was awarded the “Best Financial Innovation Lab in Kuwait for 2022” by Global Finance, as part of The Innovators 2022, based on the input from a large panel of experts, analysts, consultants and corporate executives around the world.

NBK wins this prestigious award for the second year in a row, being the first bank in Kuwait pioneering the innovation field in the country and the region.

This year’s awards highlight the leading players and emerging trends in FinTech innovation and have become one of the premier awards in the field.

NBK’s Group Digital Office acts as an Innovation Lab for National Bank of Kuwait, comprising Digital Office and Digital Factory under one umbrella, acting as an accelerator.

Using agile methodologies, design thinking and global research processes, NBK drives creativity and the development of innovations in line with its digital transformation strategy.

This achievement is shared by all entities under the NBK umbrella, including all international subsidiaries at the group level.

Recently, NBK established a Design Center within Group Digital Office to accelerate and harmonise UX design-related work required for the digital product/service development and augment the bank’s in-house design capabilities. By partnering with an internationally renowned design agency, NBK is expertly equipped to enhance all critical areas of the bank’s digital product portfolio.

As the largest financial technology accelerator, NBK is currently working with dozens of startups and FinTechs across the globe. Being a core aspect of the digital roadmap, engaging with global FinTechs allows NBK to bring new ideas and networking opportunities to expand its products and services successfully to customers. Group Digital Office currently engages with over 20 startups, exploring possible ventures to bring to the bank. Additionally, it often distributes content and analysis on global trends, ensuring the bank is aware of emerging innovations and enabling the transfer of knowledge.

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Commitment to Digital is a key strategic pillar for NBK, as the bank boasts maintaining the proactiveness of group-wide transformation strategy and expanding its digital ecosystem. This mindset is not limited to a single unit, domain or segment – but a holistic approach for the bank.

Global Finance, founded in 1987, is one of the most reputable magazines specialized in finance and economics. It has a circulation of 50,000 readers in 193 countries, including senior corporate and financial officers responsible for making investment and strategic decisions at multinational companies and financial institutions.

The magazine conducts various surveys annually about innovation and profitability for banks and financial institutions all over the world, based on which it selects top performers on the regional and international levels.

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