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Banks are leading the digital revolution in the Gulf

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Banks are leading the digital revolution in the Gulf Empty Banks are leading the digital revolution in the Gulf

Post by claud39 on Wed Jul 31, 2019 7:28 am

Banks are leading the digital revolution in the Gulf




31/07/2019





Banks are leading the digital revolution in the Gulf Rc_156455554194_23







A specialized report highlighted the positive impact of the growth of the services economy on the business and banking sector in the GCC countries, expecting the region to become a major center for technological banking systems. 

"Open banking is a banking system that allows banks to enrich their digital offerings in a safe and easy manner," said Zawya's report. "It achieves greater financial transparency and sophisticated banking services tailored to the region's banks. 

Through the digital programmed applications, open banking platforms provide customers and organizations with free access to their data and balances at the time they want, as well as sharing account information and transaction history with third parties such as stores, suppliers, companies and other banks.

The report said that the nature of the technology for each bank enables it to adapt its offers in a way that suits its customers. As a result of this digitization, which occurs in cooperation with financial technology companies, banking services become more convenient and convenient. The banks in the region appreciate the need to maintain their leading role in the financial sector and keep abreast of developments. Technology.
 
The report predicted that open financial services will be the next step in the technological transformation of banks through chatbots, a new technology based on the client to conduct an audio or text chat with a virtual employee (computer program). And through wearable technology such as smart hours and enhance the user's online banking experience. 

McKinsey's research shows that more than 80 percent of Gulf bank customers conduct most of their online banking services.

With the high penetration rates of smart phones, customers are visiting branches of banks and calling the hotline to meet specific and more complex needs over the Internet. This technological shift in the banking sector is expected to reach services that have been conducted routinely or through communication The Gulf banks are responding to measures that support advanced technologies to accelerate the innovation of their services and enhance their transparency and efficiency to their customers. 

He said the deployment of open banking platforms would help Gulf banks brand new sectors such as retail, travel and an improved banking experience, pointing out that the future of the banking sector lies in increasing digitization. Mobile banking in the Gulf region is the norm, Regional banks are also preparing to lead this area very soon.





http://www.uabonline.org/en/news/arabicnews/15751604157616061608160315781602160815831579160815/66359/0
claud39
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