The UAE has been ranked as one of the world’s top three countries in mobile banking adoption, according to a new global SAP study on banking technology. The United Arab Emirates, China, and India led the adoption.
More than six out of 10 participants (65 percent) said mobile is the most important trend for the future, followed by in-memory computing (48 percent) and cloud (47 percent).
“The UAE’s impressive ranking as a global leader in mobile banking adoption demonstrates the country’s strong culture of innovation and early adoption of mobile technology,” said Sam Alkharrat, President, SAP MENA.
The study included extensive desk research, in-depth interviews with C-level representatives from banks and regulatory authorities, and a quantitative survey.
While technology is changing every aspect of banking operations, 77 percent of participants in the recent survey say the greatest impact will be on customer satisfaction and regulatory compliance.
However, many banks have plans to increase their budget for IT to invest in the necessary banking solutions to meet these changing requirements. Indeed, 61 percent of survey participants expect an increase in their IT budget of at least 25 percent in the next three years.
The top two priorities in platform features noted included completeness of aggregation (84 percent) and the availability of real-time information (62 percent).
[box] Source: zawya[/box]
