Dubai, UAE – UAE Banks Federation (UBF), the representative of UAE banks, revealed on Friday that the rate of digital banking services use through a number of banking channels has risen 100 percent, reflecting the advancements made by the UAE in deploying the latest technologies.
Delivering the Opening address at the MEA Finance Banking Technology Summit, held in Dubai, with the participation of more than 400 banking and technology leaders, Jamal Saleh, Director General of the UAE Banks Federation, said: “This great leap in digital banking adoption was achieved in line with the strategic vision of the Central Bank of the UAE, which is characterized by its proactive approach in setting the appropriate framework to keep abreast of technological developments, and its support for the banking sector in developing innovative solutions in order to provide the best services to customers in a secure, reliable and easy-to-use environment.”
Saleh stressed the high levels of customer confidence in the banking sector, as the UAE ranks second globally in terms of customer confidence in banks at 84 percent in 2022, according to the annual index of the UAE Banks Federation.
He said that the UAE leadership in digital banking is underpinned by the adoption of the Digital Transformation Strategy by the Central Bank of the UAE in 2022, to ensure the provision of secure and efficient digital payments infrastructure and the use of technology in banking services. This also includes support for the formulation of the future of financial technology in the UAE, maximizing the use of artificial intelligence and data technologies and solutions, and developing the infrastructure for secure cloud computing solutions for the sector.