Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Business, Geostrategy, Video

Oracle shares up 35%

Huge AI contracts lead to the surge.

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

GCC banking’s tech shift saves time, money

By Hilal Mir
June 14, 2023 6:31 pm
  • As of 2019, there were over 5,000 bank branches in the GCC region, catering to a population exceeding 50 million.
  • On average, customers spent about 30 minutes in these branches to avail themselves of banking services.

Dubai, UAE — From offering basic banking services to merchants and businesses in the early 19th century to a period of rapid development in the ’70s and ’80s, banks in the Gulf Cooperation Council (GCC) region have come a long way.

The banks began adoption of advanced technologies such as online banking, mobile banking, and ATMs in the 1990s and 2000s.

In recent years, GCC banks have continued to adopt even more advanced technologies, such as artificial intelligence (AI), blockchain, and big data, improving customer service, fraud detection, and risk management in the process.

TRENDS explains in this video the technological evolution of the banking sector in the region.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]