The Kuwait Banking Association participated in the activities of the largest technology exhibition NEXUS 2024, which was held under the patronage of His Excellency the Minister of State for Communications Affairs Omar Al-Omar, from December 5 to 7 at the “Arena”. The technology exhibition Nexus 2024 aimed to promote innovation and entrepreneurship in the State of Kuwait, and was attended by a group of international experts and emerging companies in the fields of artificial intelligence, digital transformation, cybersecurity, and communications technology, to exchange ideas and explore the latest developments in the technological field.
The activities of the technology exhibition NEXUS 2024 included a series of discussion sessions and specialized workshops over three days, addressing pivotal topics such as the future of communications technology, digital transformation in the banking sector, and the impact of artificial intelligence and cybersecurity on business efficiency. The exhibition also showcased the latest innovations and technological solutions that enhance the readiness of institutions to face future challenges.
From the Kuwaiti banking sector, the exhibition was attended by Kuwait Finance House, Boubyan Bank, Kuwait International Bank, Burgan Bank, and Warba Bank. The participation of the Association and Kuwaiti banks confirms the banking sector’s commitment to supporting digital transformation, in line with Kuwait Vision 2035, which aims to transform the State of Kuwait into a global financial and commercial center that attracts investment.
On this occasion, Abdullah Al-Tuwaijri, CEO of Private, Personal and Digital Banking Services at Boubyan Bank, commented on the participation in the exhibition, “Boubyan’s participation and sponsorship of NEXUS 2024 – the largest technology event in Kuwait – came as a distinctive and unique event whose objectives are in line with the bank’s orientations, represented in entrepreneurship, innovation and technology, and the necessity of employing them effectively to enable the digital environment and continue towards the path of digitization and innovation, by providing innovative technical solutions that support the requirements of the future stage and enhance Kuwait’s pioneering position among the leading countries in the fields of technology and innovation.”
He added that Boubyan was able to use modern technology and artificial intelligence techniques in the world of banking industry, and even direct them towards facing challenges to reshape digital capabilities in many specializations such as processing big data, cybersecurity, information security, cloud computing, and others, which clearly contributes to the future of the financial services industry, in addition to its distinguished role in supporting Kuwaiti entrepreneurs and owners of emerging technology companies and providing them with solutions that enhance the development of their digital skills and their business base and expand the scope of their services in line with the requirements of the labor market in Kuwait and the region.
For his part, Deputy General Manager of Public Relations and Media at Kuwait Finance House (KFH), Yousef Abdullah Al-Ruwaieh, said that KFH’s participation in the NEXUS – Kuwait 2024 Technology Exhibition, which is one of the most prominent platforms that support innovation and entrepreneurship in Kuwait, confirms KFH’s interest and appreciation for the initiatives and events that sponsor and support technological development and innovations in this field, noting that KFH attaches great importance to technological development, digitization and cybersecurity, after technology and digital content industry have become an important and essential component of the daily life of society in various scientific and practical fields.
Al-Ruwaieh stressed that KFH, through its participation in the NEXUS – Kuwait conference, reviewed its pioneering role in digital transformation, and its excellence in providing safe, competitive and sustainable digital initiatives and services, in response to the aspirations of customers and society and keeping pace with the growing global trend of using modern technology in banking.
Al-Ruwaieh noted that participation in the conference falls within the framework of KFH’s emphasis on the importance of supporting digital transformation, innovation and technology initiatives. Al-Ruwaieh said that participating in such initiatives contributes to promoting the spread of the culture of innovation and digital development, as the NEXUS Kuwait Conference brings together a group of officials and technology experts from the public and private sectors to exchange experiences and showcase the best technical practices.
Kuwait International Bank (KIB) also indicated its platinum sponsorship of the Nexus 2024 Technology Exhibition and Conference, in line with its strategy to participate in the most important events that support innovation and the latest developments in the field of technology.
On this occasion, the General Manager of the Digital Innovation and Information Intelligence Department at KIB, Mohammed Al-Sharif, expressed his pride in KIB’s sponsorship of the NEXUS 2024 Exhibition and Conference, noting that this successful event reflects the bank’s commitment to supporting innovation and digital transformation in Kuwait. Al-Sharif added that sponsoring such events effectively contributes to the development of the technological and digital environment in the local economy, enhances the concept of innovation among institutions and start-ups, and inspires a new generation of innovators and entrepreneurs.
He stressed the importance of the role of startups and SMEs in the success of Nexus 2024, noting that this event provides an ideal platform to showcase their ideas and innovations. He praised KIB’s role in supporting these companies and providing opportunities for cooperation and communication with major companies and institutions.
Al-Sharif said: “Nexus 2024 succeeded in attracting more than 20,000 innovation and technology enthusiasts from all industries, including all government sectors, the financial sector, the oil sector, retail, and manufacturing. Most importantly, startups and SMEs, which confirms Kuwait’s position as a leading hub for innovation and technology in the region.”
It is worth noting that KIB’s participation in NEXUS 2024 confirms its commitment to driving innovation in the financial sector, and strengthening its position as one of the leading banking institutions in providing innovative financial solutions that meet the evolving needs of customers. KIB constantly seeks to build strategic partnerships with FinTech pioneers to ensure the provision of the best banking services.
On this occasion, Ms. Mai Yousef Al-Qabandi, Head of Innovation at Burgan Bank, said: “We are currently witnessing a major technological and digital transformation in many key sectors and local industries, and we are pleased to be at the forefront of contributors to enhancing digital transformation and encouraging innovation in Kuwait. Innovation and digital transformation are key factors driving Burgan Bank’s development in various fields, from improving operations to enhancing the work environment, through to the banking products and services we provide to our customers. Thanks to our extensive experience, we are confident in enhancing the digital transformation journey by sharing our knowledge and vision with other institutions that adopt similar trends in this field.”
Warba Bank also announced its platinum sponsorship of the conference as part of its strategy to support entrepreneurs and achieve digital transformation in the banking sector. Warba Bank pointed out that the NEXUS exhibition is a leading platform in which companies from various sectors participate to showcase the latest technological technologies and innovative digital solutions. The exhibition provides a wide space for interaction between emerging companies and pioneers in the industrial field, making it a destination for intellectual exchange and innovation, in addition to hosting the Kuwait Cybersecurity League.
Speaking about this participation, Director of Business Banking Services at Warba Bank, Hamad Tayseer Al-Mutawa, said: “We are pleased to sponsor NEXUS events that give us the opportunity to interact with participating entrepreneurs and small and medium-sized enterprises and learn more about the banking needs they are looking for to support the expansion and growth of their businesses and our participation in the judging panel of the Entrepreneur Challenge.”
Al-Mutawa added: “We at Warba believe that innovation and entrepreneurship form the basis for sustainable economic growth, and through this partnership we affirm our commitment to supporting emerging, small and medium-sized enterprises by providing advanced banking services that enable them to achieve their ambitions and contribute to enhancing their effective role in developing the Kuwaiti economy.”
Warba Bank provides an integrated set of banking and financial services that meet the needs of companies of all sizes. The bank is keen to enable entrepreneurs and owners of small, medium and large enterprises to achieve their goals through innovative solutions that include cash management services and provide advanced digital banking products that keep pace with the latest technologies. The bank also seeks to strengthen its partnership with the business sector by providing specialized financial solutions and supporting growth and expansion strategies in a way that enhances the role of the private sector in driving economic development in Kuwait.
One of the most prominent events that accompanied the NEXUS 2024 technology exhibition was the Startup Challenge, which aimed to support and guide Kuwaiti entrepreneurs through training and guidance programs provided by a group of local and international experts, where 30 promising startups competed to win 6 valuable prizes, with a total value of 30 thousand Kuwaiti dinars. A global cybersecurity hackathon was also held, aiming to raise awareness of the importance of cybersecurity and encourage Kuwaiti youth to specialize in this vital field that is gaining increasing importance globally.
