January 30, 2021
Haytham Yassine, principal, BCG
RIYADH Digital influence in banking was already well underway prior to the COVID-19 outbreak, and a new report by Boston Consulting Group (BCG) sheds light on how recent events have accelerated this further across the segment. The report, titled ‘The Regulator’s Dilemma: Financial Innovation Within a Regulatory Paradigm,’ details how tech giants’ success in raising standards concerning online experiences has driven increased consumer demands for digital banking services in the Kingdom of Saudi Arabia (KSA).
As online services witness an uptake amongst Saudi customers, banking is fast becoming digital. As per the report’s findings, the use of digital banking channels has increased significantly across the country during the pandemic, with 43 percent of customers using online banking and 55 percent using their respective banks’ mobile app more often.
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Use of mobile banking in UAE increases by over 65%
27 Jan 2021
Sajjad Ahmad,
Digital influence in banking was already well underway prior to the COVID-19 outbreak and the pandemic has accelerated this further across the segment, according to a new report.
The use of digital banking channels has increased significantly across the UAE during the pandemic, with 42 per cent more customers using online banking and 65 per cent more using their respective banks’ mobile app more often, as per the Boston Consulting Group report’s findings.
This year, consumer expectations have shifted to include simpler interfaces and journeys, digital-first experiences, data-driven personalised offerings, and frictionless, on-demand access to information and services.