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Saudi banks embrace digital future – Gulf Insider

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Saudi banks are betting big on the digital future. In the first three months of 2022, 13 bank branches and 81 ATMs were closed in a further sign of the growing digitization of the sector.

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This year’s decline is a continuation of an earlier trend. The statistics from the central bank, show that the number of bank branches declined by 124 — 6 percent of the total — between 2017 and 2021.

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ATMs saw a ten percent drop over the same period. However, E-commerce sales using Mada cards rose 14 percent in the first quarter of this year.

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ismailsesa

Works as an in-house Writer at Gulf Tech Plus and focuses on the latest smart consumer electronics. Closely follows the latest trends in consumer IoT and how it affects our daily lives. You can follow him on Facebook, Instagram & YouTube.

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