Ahli United Bank (AUB) has announced an exciting new partnership with Ajar Online to enhance the growth of rent payments to be made through digital channels.
The service provides convenience to tenants in making their rental payments fast and secure, whilst also providing landlords, property managers, and real estate companies with a free property management platform where they can benefit from multiple tools such as real time reporting on collections, as well as managing tenants and units. In addition to paying on online channels, through the mobile or personal computer, tenants are also able to pay their rent through new tenant cash collection points found in any one of Ahli United Bank’s branches.
The new service was launched during a press conference, which was held yesterday at the Four Seasons Hotel, in the presence of Mr. Richard Groves the Bank’s CEO and Mr. Tareq Muhmood, Senior Deputy CEO, along with several of the Bank’s Executive Management, and Mr. Shaheen AlKhudhari, Founder and CEO of Ajar Online, and a number of valued customers.
The new service addresses a challenge that many landlords and tenants face when receiving and paying rent in a timely manner. Landlords often follow a very manual and prolonged process to collect rent, which can cause delays and result in an additional burden in monitoring what has and has not been paid. Tenants are often unsure of when the rent is due or what is outstanding, and sometimes fall victim of lost paper receipts.
With these pain points in mind, Ahli United Bank and Ajar Online, are addressing this challenge with a platform that benefits both landlords and tenants. Landlords are now able to facilitate rent reminders to tenants ahead of the due date, with secure SMS payment links to facilitate the rent payment. Tenants will now have the convenience of paying their rent online from anywhere and in a secure manner.
This solution is part of AUB’s strategy to leverage technology to provide ongoing improvements for its customers.
On this occasion, Mr Richard Groves said, “The Bank’s partnership with Ajar Online is an exciting initiative that involves working with young entrepreneurial Kuwaitis, to address a real challenge faced by many landlords and tenants in Kuwait. Property owners and managers will be able to collect their rental payments electronically, in a fast and secure way. This will also benefit tenants through a new, easy way to pay”.
Moreover, Groves commended the developers of the Ajar Online project, which brings Kuwait’s real estate market into the digital age. Ajar Online is a cloud platform that provides convenience to both tenants and property owners through digitized payment methods, and continues to seek creative ways in increasing the ease of electronic payments.
Tareq Muhmood, Senior Deputy Chief Executive Officer, said “AUB is amongst the first banks to offer this new service, as part of its keen interest to reinforce its digital banking platform while also driving the efficiency of electronic payment channels that are on offer.”
Muhmood added that Ajar Online is another successful project that is part of AUB’s wide range digital services. Digital transformation involves a series of small steps. “Today is an important part of that journey as we continue to seek to leverage technology to enhance our customer’s experience in dealing with their financial services.”
Shaheen Al Khudhari, CEO & Founder of Ajar Online, said “Our partnership with AUB brings us a step forward in digitizing the real-estate market by making Ajar Online the payment and property management platform for AUB’s real estate customers, and allowing us for the first time to accept cash payments through our platform via cash collection points across all AUB branches. With that, landlords can now acquire 100% of their rent collection online, making Ajar Online the first platform in the region to offer such a robust and complete real estate payment solution.”
For more information on Ajar Online’s products and services for landlords and tenants in Kuwait and the GCC, please visit ajar.com.kw, or contact our customer service on +965 22055311.