‘UAE consumer banking demands changing’ – GulfToday

‘UAE consumer banking demands changing’ – GulfToday

UAE consumer banking demands changing'

4 hours ago

The photo has been used for illustrative purposes.

Business Bureau, Gulf Today

The expectations of consumers across the United Arab Emirates in the banking sector is rapidly evolving, even more so with the pervasiveness of the COVID-19 crisis, according to new research announced on Monday by Boston Consulting Group (BCG).

BCG's surveyed over 2,000 respondents in the UAE to understand the changing consumer sentiment and behavior in banking. The research found that 76 per cent of respondents indicated the interest to switch banks and 70 per cent actively search for new bank offers.

"The changes we have witnessed in our research on customer behavior can be linked to the current pandemic,“ said Godfrey Sullivan, Managing Director and Head of Financial Institutions UAE, BCG. "Customers' are experiencing a new