than a technical challenge . It requires the right people , processes and technologies to successfully implement the strategy .
Since embarking on its digital journey , the company has come to realise how far behind it was and quickly identified the need for investment into innovation , as well as experiencing siloed operations and a poor cost-income ratio .
Now , KIB is looking to accelerate its agile transformation and break down barriers between businesses by introducing cross-functional squads . It provides the necessary tools and methodologies to ensure successful digital banking applications , building the foundations to allow businesses to accelerate innovation in the future .
Private versus public cloud As KIB moves forward , it focuses on artificial intelligence ( AI ) and a possible move to a public cloud from the current private cloud .
Moving to a public cloud will depend on how aggressively the cloud service providers support Kuwait as a country . KIB anticipates a reluctant response from the central bank when discussing the
1973
Year founded
26 Branches in Kuwait
July 1 , 2007
KIB has operated according to the Islamic Shari ’ ah since July 1 , 2007 storage of sensitive data in the public cloud unless this takes place within its borders . It would require input from companies like Microsoft , Amazon and Google to set up data centres in Kuwait to manage this .
Trust in the cloud is also one of the stumbling blocks . The Central Bank of Kuwait ( CBK ) doesn ' t want to risk exposing people through its Kuwait-based banking services .
AI will be phased into KIB for repetitive tasks but will not replace the human touch , AI will also be used in low complexity tasks where human interaction is less important , such as a customer getting a response from the chatbot to say the branch is open .