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|10 July, 2018

Saudi Arabia tops digital banking market in MENA: Report

More than three-quarters of banking customers using online or mobile apps.

Image used for illustrative purposes An illustration picture shows a man starting his Twitter App on a mobile device in Hanau near Frankfurt, October 21, 2013.

Image used for illustrative purposes An illustration picture shows a man starting his Twitter App on a mobile device in Hanau near Frankfurt, October 21, 2013.

REUTERS/Kai Pfaffenbach

SAP Software Company has announced that the Saudi Arabia ranks as the top digital banking market in the MENA region, with more than three-quarters of banking customers using online or mobile apps.

Khaled Alsaleh, Managing Director, SAP Saudi Arabia, said that Saudi Arabia is among the world’s most digitally-advanced countries, and banks in the kingdom are leading complimenting digital transformation with real-time digital solutions to meet their customers’ banking needs.

Bank and security firms in the MENA region are the driving force behind digital transformation, with $12 billion being invested in technology

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The kingdom’s biggest digital banking advancement is in the adoption of cloud system, which SAP supports with the recent launch of its local cloud data centre in Saudi Arabia.

“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 optimise costs, foster innovation, and transform the digital and in-person customer experiences,” added Khaled Alsaleh.

© 2018 CPI Financial. All rights reserved. Provided by SyndiGate Media Inc. (Syndigate.info).

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