According to leading industry experts, Saudi Arabia has emerged as the top digital banking market in the Middle East and North Africa (MENA) region, as more than three-quarters of banking customers in Saudi use online and mobile apps.
ArabNet recently surveyed regional banking customers, and it found that 76% of Saudi banking customers use digital platforms, while 60% use online and mobile apps. Both are considered to be the highest ranks in the region.
Khaled Alsaleh, the managing director of SAP Saudi Arabia, stated that Saudi Arabia’s banks were driving new and innovative banking models that fall in line with the Saudi Vision 2030 goals for economic growth and diversification.
“We are co-innovating with Saudi banks on breakthrough cloud-based technology innovations in artificial intelligence, machine learning, the blockchain, and the Internet of Things to optimize costs, foster innovation, and transform the digital and in-person customer experiences,” Alsaleh said.
Furthermore, SAP Saudi Arabia was recently recognized as “Best Technology Provider – Middle East” at the Banker Middle East Awards.
The company SAP will be working closely on enabling the digital transformation of leading banking and financial institutions, including the Islamic Development Bank and the Saudi Arabia Monetary Authority, he added.