The Saudi British Bank (SABB) has won the “Best Consumer Digital Bank” award in Saudi Arabia for 2021 from Global Finance. This award recognizes the bank's efforts in developing digitally innovative solutions that provide customers with a cutting-edge digital experience.
The award was given based on a number of criteria, including the strength of the company’s strategy in attracting and supporting digital customers, growth of digital customers base, the success of digital initiatives, as well as the design and functionality of websites and mobile applications.
Commenting on winning the award, Basha’ar AlQunaibet, Deputy Managing Director, Retail Banking and Wealth Management at SABB said: “We are honored to receive this award, especially during this challenging year, which reinforces SABB’s ambition to be the best bank in the Kingdom, especially post the historic successful merger between SABB and Alawwal Bank. Considering that Digital banking is one of our main pillars to support competitive strength and to improve customers experience, SABB will continue to focus on expanding its digital banking and developing solutions to provide customers with a pioneering banking experience”.
SABB has recently achieved a significant increase in the number of digital channel users, and has successfully migrated a wide range of services and manual processes to its digital platform, which is attributed to the bank’s strong position in attracting customers to its digital services and offers. Notably, the active digital customers reached 78% of total active customers, with SABB Mobile application accounting for 85% of total digital active customers. SABB's adoption of digital mobile payments is also developing positively, with more than 1 million cards via mobile wallets. In addition to that, the bank is working to strengthen its relationship with FinTech companies, and is actively working with more than 15 companies in various areas of digital banking.
About Saudi British Bank (SABB):
Saudi British Bank (SABB) is a financial institution licensed and subject to the supervision control of the Central Bank of Saudi Arabia. SABB was incorporated in 1978G as a Saudi joint stock company, and it is an affiliate of HSBC Group.
SABB provides integrated financial and banking services, such as retail banking, corporate and investment banking, private banking, and treasury services. SABB's paid-up share capital is SAR 20.5 billion.
© Press Release 2021