DUBAI- 76 percent of Saudi banking customers use digital platforms, and 60 percent use online and mobile apps, both ranking highest in the region, according to a survey of regional banking customers by research firm ArabNet. Top Saudi digital banking offerings are loyalty programs (53 percent), mobile discount coupons (51 percent), and virtual prepaid debit cards (50 percent), according to McKinse.
“The Kingdom is one of the world’s most digitally-advanced countries, and banks are leading their transformation with real-time digital solutions to meet their customers’ banking needs,” said Khaled Alsaleh, Managing Director, SAP Saudi Arabia. “Saudi banks are driving new and innovative banking models in line with Saudi Vision 2030 goals for economic growth and diversification.”
Across the Middle East and North Africa, banking and security firms are driving their digital transformation, with USD 12 billion being invested in technology, according to research firm Gartner.
“We are co-innovating with Saudi banks on breakthrough cloud-based technology innovations in artificial intelligence, machine learning, blockchain, and the Internet of Things to optimize costs, foster innovation, and transform the digital and in-person customer experiences,” added Khaled Alsaleh.