Mohammed Al-Othman, CEO – Consumer and Digital Banking at National Bank of Kuwait (NBK) Group, outlined significant shifts in the banking sector driven by evolving customer expectations and technological advancements during the MoneyTech Summit 2026 held in Kuwait City. He emphasized that competition among banks now increasingly focuses on enhancing the quality of the banking experience, providing seamless access, and offering personalized services rather than solely on traditional banking products.
Al-Othman highlighted that over the past five years, customer expectations have risen sharply, with clients now comparing banking interactions to the best digital experiences available globally across various platforms. Customers expect instant, convenient, and tailored solutions accessible anytime and anywhere. This change has forced banks to rethink their business models and prioritize the delivery of flexible, seamless services that closely align with individual customer needs.
NBK has been an early adopter in this digital transformation, embedding technology and innovation at the core of its strategy. This approach helped the bank build a robust digital infrastructure and enhance its technological capabilities, enabling it to respond rapidly to industry changes. Al-Othman noted that NBK continues to lead the region through initiatives such as introducing a fully digital loan process via its mobile banking app and digital credit card issuance and management, allowing customers to conduct banking activities conveniently and securely without visiting branches.
The shift in focus from digitization alone to improving the broader digital experience was another key theme. Al-Othman stressed that banks must move beyond offering digital access to services, aiming instead to create smarter, simpler systems that anticipate customer needs by leveraging data analytics and artificial intelligence (AI). These technologies are viewed as critical tools for delivering personalized recommendations and more effective engagement, enabling banks to build closer customer relationships.
Addressing the evolving relationship between traditional banks and fintech companies, Al-Othman described a transition from viewing fintechs as competitors to recognizing them as valuable partners in accelerating innovation. NBK’s acquisition of a majority stake in UPayments, a digital payment solutions provider, was highlighted as part of the bank’s strategic effort to leverage fintech expertise for enhancing the digital payments ecosystem and overall customer experience.
Cybersecurity and trust were underscored as foundational to successful digital banking. Al-Othman said that while speed and accessibility are vital, safeguarding customer data and funds remains paramount. He called for continuous investment in advanced security systems alongside raising customer awareness about the safe use of digital services.
Looking ahead, Al-Othman forecasted that banking services will become more integrated into daily life with a stronger reliance on intelligent technologies and advanced analytics. He predicted the future will feature increasingly personalized and proactive services, with banks anticipating customer needs and delivering solutions before requests are made. Despite the critical role technology plays, he concluded that the ultimate measure of success will be the ability of financial institutions to use innovation to create simpler, more flexible, and secure experiences, keeping customers at the center of all developments.