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Economy, Video

Emirates NBD H1 profit $3.40bn

Total income rose by 12 percent in the same period.

ADIB H1 pre-tax profit $1.08bn

Q2 pre-tax net profit increases by 14 percent.

AstraZeneca to invest $50bn in US

Bulk of funds to go into a Virginia manufacturing center.

UAB net profit up by 50% for H1

Total assets increase by 11 percent.

TSMC Q2 profit up 60%

TSMC is the world's largest contract maker of chips.

Ways of digital banking in Middle East

More than 465 fintech companies are reportedly operating in the Middle East.
By TRENDS Desk
August 7, 2022 2:32 pm
  • Banking that is done through the digital platform without any paperwork is referred to as digital banking.
  • Increased efficiency, cost reduction and increased accuracy are some of the advantages of digital banking.

Banking that is done through the digital platform without any paperwork is referred to as digital banking. Simply put, digital banking means the availability of banking services online.

It involves the automation of traditional banking services and substitutes the bank’s physical presence with an everlasting online presence, eliminating a consumer’s need to visit a branch.

Increased efficiency, cost reduction and increased accuracy are some of its advantages. Digital banking is picking up in the Middle East, although it lags behind the western nations.

TRENDS takes a look at the types of digital banks in the Middle East.

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