According to a recent study from Cornerstone Advisors, 52% of banks hadn’t launched a digital transformation strategy prior to this year – additionally, 25% will have not launched a strategy by the end of this year. Based on the findings, Cornerstone Advisors estimate that most financial institutions have a six-to-eight-year timeline to complete their digital transformation journey.
Nintex banking customer, Kuwait International Bank, however, has not only embarked on its digital transformation strategy – its also already realizing the benefits of its efforts.
Enhancing customer experiences
Founded in 1973, Kuwait International Bank is a publicly-traded financial services company providing banking services to both consumers and businesses. The bank began leveraging Nintex Workflows and Nintex Forms seven years ago to automate a financial tracking process. Today, Kuwait International Bank deploys Nintex across every department to improve its customer experiences.
“Customers always have options to take their business elsewhere, so customer experience is crucial to competitive advantage,” says Mohammed Alatari, Senior Manager, Application Development and Support at Kuwait International Bank.
The bank has automated more than 150 processes with Nintex Workflow and Nintex Forms – resulting in significant productivity gains, increasing the bank’s competitiveness and market share. Benefits resulting from the bank’s digital solutions implemented with Nintex include:
- Customers now get responses to their applications for credit cards in an hour – it used to take three days.
- Loan applications are handled in two days, down from two weeks – a times savings of 80%.
- Customer service requests are handled more accurately and more promptly.
“We can serve customers better and faster in multiple ways by automating processes with Nintex Workflow — which supports our goals for customer satisfaction and overall growth.”
– Mohammed Alatari, Senior Manager, Application Development and Support, Kuwait International Bank
Improving employee experiences too
The bank is also deploying Nintex to help its employees complete their work with less effort and more accuracy.
Using Nintex Workflow and Nintex Forms to automate its digital internal processes ensures that the correct steps are taken and in the correct order – reducing the need for rework. Nintex provides visibility into the progress and status of workflows – allowing managers to better understand when processes or employees need assistance.
Kuwait International Bank has also improved its software development time with Nintex – reducing its software development lifecycle from 15 days to just four. Developers handle design, configuration and implementation, and the rest of the process is now automated with Nintex Workflow. The bank’s developers are also creating custom workflows four times faster than before with the Nintex Process Platform.
Fueling more digital solutions
While the bank is well on its way to achieving its digital transformation goals, Nintex Workflow and Nintex Forms are just the beginning of its automation efforts. Kuwait International Bank is now preparing to adopt Nintex RPA® to fuel even more digital transformation efforts – the bank has already identified 70 use cases.
Read the case study to learn more about how Kuwait International Bank is reaping the benefits of digital transformation with the Nintex Process Platform.