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.