Compareit4me.com, the leading finance comparison site in the UAE, Qatar and Bahrain, continues its GCC-wide expansion with the recent launch of its dedicated Kuwait website – the first platform of its kind in the country. compareit4me.com has carved a niche for itself in the regional banking industry following its successful UAE debut three years ago.
It has become the go-to site of users in the UAE, Qatar and Bahrain looking for a convenient and streamlined way of searching, comparing and applying for products such as savings and current accounts, personal loans, credit cards, car finances and home loans. Jon Richards, CEO of compareit4me.com said like its predecessors, the Kuwait website will users to compare credit cards and loans from major local and international banks operating in Kuwait.
Having the products listed on one, easy to use website means visitors to kuwait.compareit4me.com can find the best rates and the most relevant products for them. “kuwait.compareit4me.com was built to help consumers make accurate financial decisions, but we also help the banks achieve their marketing goals. By displaying the various products and offers, we help banks connect with motivated and informed users, who have already gone through the research phase and are now ready to commit,” Richards said. compareit4me.com’s entry into the Kuwaiti market is a testament to the GCC banking sector’s immense growth potential.
The region’s total bank assets will likely hit the USD2-trillion mark by 2015, according to industry forecast. Kuwait also holds untapped opportunities, said Richards. “Home to over 3.4 million people, Kuwait occupies a land area of just 17,820 square kilometres. But what it lacks in size, it more than compensates for in economic strength.” The oil-rich nation’s GDP per capita was estimated at USD56,367 in 2012, according to World Bank data, and its economy is expected to grow by between 3% and 3.5% this year. Its banking sector is also robust, with total assets at KWD59.16 billion (USD203 billion) at the end of 2013. “compareit4me is actively working to highlight the potential of comparison websites in the region and its presence in Kuwait will definitely be a game changer for the local banking sector,” Richards said.