The largest financial institution in Kuwait, the National Bank of Kuwait (NBK) became the first bank in the country to win the prestigious award of Best Financial Innovation Lab in Kuwait for 2021 for its Group Digital Office.
The accolade was given as part of the annual survey conducted by the international Global Finance magazine based on the input from a large panel of experts, analysts, consultants and corporate executives around the world. The award recognizes the successful initiatives launched by NBK for its digital transformation roadmap with a view to uplift the services provided to its customers.
This year’s Global Finance awards honor the leading players and emerging trends in fostering fintech innovation including labs run by banks, governments, venture capitalists, universities and NGOs.
The winners were announced from innovative institutions, exceptional labs, banks and fintech, as well as the innovations in original new products and services from seven global regions (Africa, Asia Pacific, Central & Eastern Europe, Latin America, the Middle East, North America and Western Europe).
NBK’s Group Digital Office with the Digital Factory organization under its umbrella is the largest financial technology accelerator in the region, which plays a key role in driving the bank’s digital transformation strategy by enabling it to foresee future growth opportunities related to the fintech domain.
With a network spanning 4 continents and 15 countries worldwide, NBK acts as an incubator for innovators and emerging companies in the fintech ecosystem through its Digital Factory.
Digital innovation is a key pillar of the bank’s strategy to maintain its leading position in banking services, regionally and globally, by transferring and implementing the most advanced technologies in banking services across its operations.
Headquartered in New York, Global Finance is one of the most reputable magazines specialized in finance and economics. 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.