KFH introduces digital account opening solution – Baitek

By Edil Corneille

Kuwait Finance House (KFH) introduced Baitek, a digital account opening solution designed and developed by key technology partner, Aion Digital. The E-KYC and digital onboarding solution by Aion has now been approved by 3 regulators in the GCC region, the latest one being the Central Bank of Kuwait (CBK).

KFH is preparing to launch its digital account opening solution at the end of November. This service will allow new to bank customers to open an account in less than 5 minutes and with few clicks, without ever having to visit a bank branch.

The KFH App is available in Arabic and English for iPhone and Android devices. Customers can enter the application and complete transactions through ‘Face ID’, or with a single touch via fingerprint technology.

Aion’s digital banking platform includes core capabilities like MRZ auto scan, full forensic analysis, OCR capabilities, selfie recognition, facial recognition, selfie cross-validation, data cross-validation, video conferencing, integration with the government for electronic signature, intelligent workflow engine, and a KYC engine. Aion’s platform comes with a microservices architecture, full dockers and containers framework, and a complete mobile-first digital journeys including back-office digitisation.

Aion’s digital banking platform brings open banking APIs and integration capabilities, enhanced orchestration of key services at multiple layers, comes pre-integrated with mobile-first digital journeys and delivers modular architecture to enable speed to market at low cost while delivering a high return on investment (ROI). The platform is built on a ‘plug-and-play’ architecture making it flexible, extremely secure, and highly configurable.