KUWAIT CITY, Aug 3: Kuwait Credit Bank announced Tuesday, the launch of a smart home loan service worth 70,000 Kuwaiti dinars (about 231,000 US dollars) using artificial intelligence technology. The bank’s official spokesman, Habari Al-Khashti, said in a press statement that the service is unique to the bank between government and private institutions, and the Kuwaiti citizen who is allocated a voucher from the Public Corporation for Housing Welfare and wishes to build it will benefit from it by applying for the loan through the bank’s electronic portal.

Al-Khashti stated that the bank has made achievements in the field of electronic and digital transformation, noting that the total number of electronic loans it has provided is about 25 thousand loans worth 110 million dinars (about 363 million dollars). She explained that the smart mortgage loan service is an achievement added to the bank’s series of achievements over the past 10 years, which was launched and started with the electronic marriage loan, followed by the electronic mortgage loan and the automation of the bank’s services through the bank’s electronic portal or the phone application until it became 98% of the bank’s services electronically. She pointed out that smart loan services shorten the documentary cycle, speed up the pace of completion, reduce human errors and contribute to preserving public money. (KUNA)