The e-KYC feature enables new users to register themselves
on the app itself and start sending money instantly
In a move that places it among a handful of end-to-end digital payment providers in Kuwait, LuLu Exchange- one of the country’s leading financial services provider has announced the rollout of a next generation e-KYC feature on its digital payments solution, LuLu Money.
The LuLu Money app, which is a firm favorite of the country’s expat population for its ease of use and convenience, will now no longer require new users to visit the company’s physical branches for registration. Thanks to the new e-KYC facility, new users can simply upload their identification documents on the app, and get their verification done online, from the comfort of their home. The entire process is simple, quick and hassle-free, allowing registered users to then start sending money through the app to their loved ones back home.
Talking on the development, Mr. Adeeb Ahamed, Managing Director, LuLu Financial Group, said, “The launch of the e-KYC service is an important addition to our vision to innovate value and inspire experiences in the financial services sector. We remain committed to bridging the gap between technology and our consumers, and the introduction of e-KYC will make the entire payments process 100% online. This move will be a big boost to user experience and make it a whole lot easier for new users looking to transition to LuLu Money, for their cross-border payment needs.”
LuLu Financial Group, which operates in 11 countries across the world, has been heavily investing in recent times into state-of-the-art technology and back-end operations to provide a seamless consumer experience. The new feature signals the Group’s intent to become a much-needed fintech proposition in the GCC and larger MENA market.
Apart from Kuwait, the Group has also launched the e-KYC feature in Philippines and will soon roll it out globally in all its countries of operations in the GCC, Indian sub-continent and APAC regions.
Established in 2008, LuLu Financial Group presently operates over 235 branches worldwide, with 26 LuLu Exchange branches in Kuwait alone. Its other countries of operations include the UAE, Oman, Qatar, Bahrain, India, Philippines, Singapore, Hong Kong and Malaysia.
