Use of mobile banking in UAE increases by over 65%

Use of mobile banking in UAE increases by over 65%

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.

As online services witness an uptake amongst UAE customers, banking is fast becoming digital.

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.

Moreover, the pandemic has further pushed these trends, propelling financial institutions to move from a digital as a choice to a digital as the only choice approach.

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