April 16, 2021

“NBK” concludes its participation in the sixth season of the “innovation challenge”

NBK has concluded its participation in the sixth season of the “Innovation Challenge” program organized by the Kuwait Foundation for the Advancement of Sciences, in cooperation with the Center for Executive Education at the Wharton College – University of Pennsylvania.

The “NBK” team participating in the program presented its project, which included new and innovative banking solutions and services. This project was discussed with the executive management of the bank, especially the chief executive officer of “Al-Watani – Kuwait” Salah Al-Fulaij, and the deputy chief executive of “Al-Watani – Kuwait” Sulaiman Al-Marzouq. The General Manager of the Group’s Human Resources is Emad Al-Ablani, and the General Manager of the Personal Banking Services Group, Muhammad Al-Othman.

The project submitted by the “National” team won the approval of the administration after a series of presentations and discussions that were held on it, to enter the implementation stage in the coming period.

Participation in this unique program is through a team of between 2 and 4 members representing the participating institution in the program, and in turn, the teams engage in a truly applied innovation journey that combines innovative learning with practical application in order to reach innovative initiatives that can provide added value to the institutions involved in the program.

The “Innovation Challenge 2020” program, which witnessed some delay during the past year due to the repercussions of the Corona pandemic, aimed to develop and develop the innovative human potential in private sector institutions with the aim of promoting a culture of creativity and knowledge growth that contributes to transforming Kuwait’s economy into a knowledge-based economy.

The program included many axes, which include the successful implementation of innovative initiatives, the innovation planning process, and measuring the impact of innovation, as well as a workshop on innovation leadership.

The bank indicated that, due to the circumstances imposed by the Corona pandemic, the participating teams’ scheduled visit to technology companies in Silicon Valley in San Francisco, California, USA, has been replaced by remote lectures and training workshops.

The Innovation Challenge program, launched by the Kuwait Foundation for the Advancement of Sciences in 2015, is one of the most prominent executive education programs that the Foundation holds annually, whereby a small group of selected companies work with the most prestigious business schools to develop new initiatives and projects that enhance the culture of innovation within each company.

After a competitive application process, participants spend 4 months learning and training, exploring ways to create positive change within their companies, and then each team tackles a company-specific challenge and tries to solve a problem during the training period in the program.

The Foundation has specifically designed this program for private sector companies in Kuwait, in collaboration with prestigious academic institutions such as the University of California, Los Angeles (UCLA), Anderson School of Management, University of California, Berkeley, the Royal College of Art in London and the University of Cambridge.

NBK attaches great importance to developing its human cadres, which are the mainstay of its distinction and leadership, by providing the best specialized training programs that meet the highest international standards, in order to upgrade the professional cadres to become qualified for leadership in the future.

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