Evolution of banking services in Saudi Arabia

Hello everyone,

With rapid technological advancements, banking services are digitizing at lightning speed. Expats are thus propelled into a new era of options and payment methods, disrupting the traditional banking services of local establishments in Saudi Arabia. An evolution that presents a range of opportunities and challenges on a local scale.

Share your experiences regarding the evolution of bankings services in Saudi Arabia:

To what extent are the latest banking technologies being adopted and utilized in Saudi Arabia? (contactless payments, phone-based payment systems, QR codes, etc.)
What are the advantages and disadvantages?

Are new payment methods emerging in Saudi Arabia? Which ones, and what does it change in your daily life?

What are the advantages of using local bank services versus an international online banking service as an expat?

Are there specific features in banking apps that you find particularly helpful as an expat in Saudi Arabia?

By sharing your experiences and insights, you contribute to a broader understanding of the evolving banking landscape for expats in Saudi Arabia.

Thank you for your contribution.

Cheryl
Expat.com Team

In the rapidly evolving digital landscape, technology has become a critical component for delivering effective services to customers in the banking industry.

Banking operations have been transformed by these technologies, which also improve security, effectiveness, and client satisfaction.


now no need to go to the banks to do any transaction including opening accounts, transferring money, paying bills and saving.


my bank application is connected with western union service i can send money easily


the improving in security like biometric technologies, such as facial recognition and iris scanning, to replace traditional passwords and PINs help the clients to trust the online banking and to stop visiting the banks physically.

Banks in the GCC are very compromised due to insider threats and fraud. Be VERY careful with how you handle your banking and answer no questions over the phone for any reason. If anyone wants your information tell them you will meet them at the bank to discuss.

@Cheryl

It is difficult for those who didn't renew their iqamas to benefit from.

Fuad

@ShaneOB

Absolutely right, the number of scams and hacking  , is incredibly increasing so we have to on on our toes all the time

@Fuad Mohammed You are right