Developing a Robust Customer Acquisition, Engagement & Loyalty Strategy in the Middle East
“There isn’t a single bank that is not considering digitizing its services and products due to the pandemic.” That’s what Shadi Al Nasr, Head of Retail Portfolio, Strategy & Wealth Management at United Arab Bank (UAB), told the MEA Finance and Backbase Roundtable in March.
However, it isn’t just the pandemic driving this trend. Gen Z is growing up. They expect banks to deliver the same seamless experience as the latest generation of apps.
Digital channels will drive 80% of revenue growth over the next three years, according to KPMG. Unless the incumbents invest in digital transformation, they’ll get left behind by their more tech-savvy rivals.
In this report, we share how executives at some of the GCC region’s leading financial institutions are addressing the challenges and opportunities of engaging customers in the digital age.
“The adoption of mobile and online has soared in the last 12 months following the outbreak of the covid-19 pandemic which underscores the current operating environment for the financial service sector globally”
Saqib Khan, Sales Head – Middle East, Backbase
“Digital transformation should be a holistic approach and can not be done in isolation where banks enhance the digital journey and miss the other parts of the journey because customers nowadays continue to evolve as well, in the channels of choice.”
Roy Villareal, Digital and Marketing Head, Citibank Middle East