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UAE 23rd in Net banking

Dubai , June 26, 2007

The UAE ranks 23rd in the usage of internet banking, according to a recent study conducted by the Nielsen Company.

The study comes at a time when the voice of the bank brand is shifting from the High Street to the web even as consumers switch in increasing numbers to online banking.

As many as 32 per cent of the world's Internet users bank online at least twice or thrice a week, and 14 per cent of them claim to bank online as often as daily, it said. 

The Nielsen Company surveyed 25,408 internet users in 46 markets from Europe, Asia Pacific, North America and the Middle East about how often they use a variety of banking services, including Internet and telephone banking, ATMs and branches. Nielsen also asked respondents how loyal they were to their main bank.

About 54 per cent of respondents said they indulged in internet banking with their main bank at least once a month, the study said.

And while telephone banking doesn't seem to be serving much purpose for the majority, particularly in Europe, the UAE leads in the proportion of telephone bankers, with 44 per cent declaring that they call up their main bank at least once a month.

'A combination of factors is leading to the increasing preference of the consumer to go on line,' said regional managing director, Nielsen Middle East, North Africa and Pakistan, Piyush Mathur.

'The extreme weather is an obvious reason. Add to that the increasing inconvenience drivers are facing driving and finding parking space, and we have strong enough reasons for people to keep away from banks,' he added.

Many banks are also levying additional charges on people visiting their branches. However, there are positive reasons as well. Banks are increasingly trying to make things easy for consumers by sending direct sales agents for as many relationship-opening transactions as possible.'

The UAE also ranks high in the use of ATM services, with as many as 86 per cent reporting accessing the ATMs of their main bank.

And when it comes to loyalty to one's bank, 68 per cent globally claim to be very or slightly loyal to their main bank, with 59 per cent of Canadians the most loyal of all, followed by over half of Czechs, Danes and the French. 68 per cent of UAE's respondents feel they are very or slightly loyal to their main bank.Trade Arabia News Service




Tags: UAE | Nielsen Company | Online banking |

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