Best Fintech Solution in UAE
Over the years the UAE has become known as the key financial hub of the Middle East and this report explores developments in technology, regulation, culture and governance which are transforming the current and future landscape of the UAE banking sector.
According to numerous studies conducted by official authorities, such as the Federal Competitiveness and Statistics Authority, the percentage of digital banking users in the UAE rose to 90 percent while the percentage of ATM users reached 100 percent, reflecting the growing automation of the country’s banking sector.
The studies, which researched the services of 19 banks, indicate that the number of downloads and installation of banking applications ranged from 90,000 to 5.4 million, highlighting the demand from banks account holders for digital banking solutions.
Across the banking sector, companies have embraced innovation teams one of which is Giro FinTech, the smarter, simpler way to bank while on-the-go, based in Dubai, United Arab Emirates. Giro is a simple and secure way to view your account summary, transactions, transfer funds, search for thousands of great offers, automatically pay utility bills such as DEWA, Etisalat, Du and Salik, setup recurring transfers, check out new products, shop online that gift you forgot to buy. The productivity Digital Banking offers is hard to argue with. In fact, according to a study by CACI Consultancy, by 2020 it is predicted that we will use mobile apps and digital banking 10 times more often than we will physically visit a branch.
Today, digital banking appears to be more of a ‘renovation’ of the service delivery channel than true ‘innovation’, a process that has long since occurred in other industries such as e-commerce.