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CORPORATE BANKING


MERCHANT SERVICES UNIT

Cash Management

Our cash management products and solutions will enable you to monitor your account positions, meet payments obligations and timely collect your receipts. We assist you to streamline your processes, automate tasks and effectively manage liquidity to reduce your operating cost.

Account Management

Our dedicated relationship managers will assist you in opening current, call, and fixed deposit accounts for KWD, USD, EUR, AED and all other major currencies.

Through ABKnet, Corporate Internet Banking, you will have a controlled online access to your entities accounts via a single sign-on. This will help you in monitoring the operating account positions on real-time basis, view and download the transaction history in different file formats, such as PDF, TXT, XLS, MT940, and MT950.


Payments & Payroll

In addition to the paper-based payment requests, we provide reliable and cost effective ways to automate your payments (vendor payments & salary transfers).

Solutions are offered through our electronic banking platform, ABKnet, which enables you to make payments to beneficiaries within ABK or outside ABK i.e. locally or internationally, in all major currencies. Moreover, it allows you to submit priority or future-dated salary payments to be processed by bank.


Collections

ABK offers a flexible and efficient services to help you collect your cash, cheques and e-receivables. We facilitate the cash and cheque pick-up and delivery services through reputed service providers and offer Point of Sale (POS) and Payment Gateway (PGW) services.

To reconcile the POS and PGW related transactions, you can view and download transaction reports pertaining to specific or all terminals per date via ABKnet.


Liquidity Management

Enhance the management of your surplus cash through our set of day-to-day and long-term deposit products by focusing on increasing the funds’ availability and managing deposit balances.

Our solutions helps in maximizing the returns on idle or surplus cash and reduces costs. They cover standing instructions, simple and complex sweeping and pooling capabilities.


Trade Finance Services

Initiate trade transactions and access real-time trade account information at your convenience with ABKnet.

Use ABKnet to access the details of your import and export trade transactions, documentary credits (DCs), and Guarantees. Apply for import DCs and make amendments online. Create import bill instructions and view details of outstanding import bills. Accept or reject bills and submit settlement instructions ‐ all from the convenience of your computer.


ABKnet - Corporate Internet Banking

Our corporate internet banking platform, known as ABKnet, is a gateway to effective financial management.

It is the future of business online; we made it simpler to manage your payments, receivables, liquidity and the changing value of your assets with one secure, solution. It is designed to help you increase productivity, manage your cash flow and connect with your staff, companies and markets.

ABKnet puts you in control of your internal security with flexible administration options to make your online experience efficient and secure. You can determine which information or application is available to each staff member. By managing access to tools and report options, you can streamline internal processes and improve your operational efficiency.

Key Features: Key Benefits:
Single window view for all ABK accounts, mapped to a single User ID including Current accounts, deposit accounts, credit cards, and linked accounts …. Available 24X7
Control the creation beneficiaries & template payments Real-time access to all your account information
Inter-Account and Inter-Bank fund transfer Customization and Security - preset the information access, multi-level approval process and transaction authority for each user, for complete security
Local Transfers MIS Integration - download account statement in different formats including MS Excel, Text file, CSV, MT940/950 and PDF
International Transfers Audit Trails - administrator can monitor user logins and all the activities performed by user
Bulk and Salary File Upload and Transfers
Trade Services

For more details, please send us an email at ABKnet@abkuwait.com or contact the Cash Management team on 186 7000 Ext. 2772, 2105, 3345, and 2763.