Bloomberg/Waseem Obaidi


SAIB and SAP partner to enhance digital banking market

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The bank seeks to enhance customer experiences in the end-to-end banking journey -- making it efficient to open accounts, apply for loans as well as acquire the different cards products, and enjoy all banking services via online channels or on mobile devices.

Thursday 14, March 2019

Saudi Arabia’s SAIB has partnered with SAP to support the digital banking market and enhance customer experiences.

The partnership will also allow SAIB real-time insights on customers to provide more relevant and personalised products.

In a statement the lender stated that it is investing on the SAP Hybris platform powered by the SAP HANA in-memory platform.

The Kingdom’s retail and corporate banks are heavily investing in digital transformation and moving to digital banking models, analysts expects the global digital banking market to grow by 25 per cent from SAR 45 billion in 2018 to SAR 56 billion in 2021, according to Deloitte.

SAP stated that SAIB the collaboration will allow faster and easier experiences, as in-person banking is replaced by digital banking, the bank can share insights on one digital platform to simplify business operations and customer journeys.


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