4
vritti
December 2018
The Digital Financial Services Guide
DIGITAL
BANKING
MAKI N G
I N ROA D S
INTO
MIDDLE EAST
Customers in the Middle East are
going digital. This, in turn, unearths
the requirement to infuse increased
innovations in the financial services
space, to disrupt the face of banking
in Middle East.
The digital revolution that is transforming industries across the globe is
now being witnessed in the banking industry as well. Leading banks in
the region are taking the lead, spurred on by the advent of digital payments in
the region and increased access to mobile internet. Smartphones, tablets
and wearables have made it possible for customers to execute a plethora
of activities, such as ecommerce transactions, merchant payments in-
store, money transfers, etc. Thanks to initiatives taken by the schemes in
the region and solutions provided by fintech companies, consumers have
already started tasting the benefits of going digital.