The NBK is the acronym of National Bank of Kuwait, established in 1952. It is also the leading local bank and shareholder in the Persian Gulf area and Kuwait. Furthermore, NBK is the largest financial organization that incorporates an efficient market dominant position in the commercial banking market.
The market says it has the largest visibility in the country with 68 branches. They have begun to improve the growing international representation by accumulating a majority of 143 branches in space.
This new blockchain payment service – National Bank of Kuwait Direct Remit, allows money transfers to Jordan. They are planning to add their services to most countries. This payment service is accessible to all customers of the National Bank's Kuwait and to the availability of NBK online banking services.
"The seamless service is instantaneous and economical, so it solves the long-standing problems encountered in the remittance sector," says the bank.
NBK Direct Remit is using the blockchain solution on Ripple-xCurrent. This service allows banks to settle cross-border payments immediately via end-to-end tracking. Furthermore, it allows banking authorities to send text messages in real time.
Now, users can secure payment details before starting a transaction and validate after delivering the payment. xCurrent consists of a Rulebook in collaboration with the RippleNet Committee. Confirm legal clarity with operational consistency for each individual transaction.
What are your opinions on this Blockchain Payments service? Share your thoughts in our comments section.
Was this post helpful?
Let us know if you liked the post. This is the only way we can improve.