By combining technology, ethics and human insight, the bank has created a digitally-enabled model that is defining the region’s next era of private banking
Kuwait Finance House’s (KFH) private banking transformation in 2024 was driven by a belief that innovation is not an accessory to wealth management but its foundation. The launch of the KFH Wealth App from KFH Capital marked a turning point for Kuwait’s Islamic banking sector. More than a transactional tool, the platform has become a client’s window into real-time portfolio performance, sukuk subscriptions and curated market insights.
Through secure in-app messaging and advisory requests, KFH has transformed its private banking experience into a hybrid model that merges personal relationships with digital precision. The result has been a sharp rise in digital engagement, with more than 70% of private banking clients now active online, up from just 25% two years ago.
Innovation through transformation
KFH’s approach to innovation extends beyond digital tools to the way the bank operates. Following its merger with Ahli United Bank – Kuwait, the bank has unified more than 80 core systems and migrated 280,000 clients, including many high-net-worth individuals. It has also introduced robotic process automation (RPA) across wealth operations, reducing approval and processing times by more than 35% while maintaining rigorous sharia and compliance standards. Automation has been further supported by smart onboarding through facial recognition and integration with the country’s Public Authority for Civil Information (PACI), enabling faster, more secure access to services.
Behind these visible changes is a wider, deliberate cultural shift: more than 115,000 training hours have been delivered, innovation sprints launched, and staff key performance indicators (KPI) redefined to focus on digital adoption and client satisfaction.
“KFH’s approach to innovation blends technology with purpose, proving progress in Islamic private banking can be both ethical and intelligent.”
Purpose in performance
KFH’s innovation journey is not just technical, it is also values-driven. In 2024, KFH Capital doubled its ESG sukuk portfolio to $653m, providing private clients with access to structured sustainable investments and integrating ESG ratings directly into portfolio dashboards. The bank’s inclusion in the FTSE4Good Index and an A ESG rating from MSCI has reinforced its position as a credible leader in responsible Islamic finance.
Lifestyle-focused services such as the Baitak Concierge Service have also expanded KFH’s proposition, giving clients access to premium services in travel, healthcare, real estate and education. Together, these initiatives form a connected ecosystem that combines ethical finance, innovation and client experience.
KFH’s transformation has modernised Islamic private banking while making it more human. With plans underway to pilot AI-powered investment advisory and expand green sukuk offerings, the bank is shaping a future where faith, technology and insight work together to define the next generation of wealth.
Metrics that Matter
- 70% Proportion of private banking clients now engaging digitally, compared with just a quarter two years earlier
- 35% Reduction in wealth-operation processing time following RPA deployment
- $653m Value of KFH Capital’s ESG sukuk portfolio, representing a twofold year-on-year increase