Latest news with #MartinRauchenwald
Arabian Business
5 days ago
- Business
- Arabian Business
UAE banks struggle with employee digital readiness despite leading GCC innovation: Report
UAE banks face barriers in empowering frontline employees to deliver seamless customer experiences, despite leading the GCC in digital adoption and omnichannel innovation, a survey by Arthur D. Little revealed. The study, conducted with 42 banks across the UAE and KSA, draws insights from 24 UAE banks surveyed in ADL's Omnichannel Survey 2024. The findings show that 72 per cent of UAE employees operate in mobile-first environments, reflecting the country's digital infrastructure. UAE banks face barriers However, 25 per cent of staff report lacking confidence to manage customer queries across multiple channels. Digital platform complexity creates further obstacles, with 35 per cent citing interface challenges and fragmented user journeys that disrupt service quality. 'UAE banks have invested heavily in digital infrastructure, but now the focus must shift to employee enablement. Bridging the gap between technology and talent is essential to realise the full potential of omnichannel strategies,' Martin Rauchenwald, Partner and Global Head of Financial Services practice at Arthur D. Little said. Data access and usability present concerns for UAE banking staff. Only 10 per cent of respondents say it is extremely easy to retrieve and use customer information across platforms, while 30 per cent find it extremely challenging. Fragmented systems and lack of real-time synchronisation force staff to rely on manual workarounds, increasing friction and reducing productivity. Customer service continuity faces disruption, with 42 per cent of UAE employees experiencing issues transferring customer problems between channels due to inconsistent service availability. This breakdown undermines customer trust and employee morale. The report notes that real-time backend integration, enabled through cloud and blockchain technology, is key to overcoming these hurdles. 'To deliver truly seamless service, UAE banks must prioritise backend modernisation, strengthen cross-channel consistency, and invest in training that's tailored to employee roles, digital fluency, and generational needs,' Rezwan Shafique, Principal, Financial Services at Arthur D. Little Middle East added. Employee training needs focus The survey reveals generational divides in digital tool satisfaction. Younger employees under 35 show 60 per cent satisfaction with digital tools, whilst only 28 per cent of those over 45 report the same level of satisfaction. Among the dissatisfied older group, 42 per cent attribute their struggle to insufficient training. The report suggests targeted mentorship, simulation-based learning, and inclusive upskilling are necessary to bridge these gaps and strengthen readiness across all age groups. Banks such as Emirates NBD and Mashreq are pioneering omnichannel models powered by AI and personalisation. The survey concluded that their success depends on aligning innovation with workforce capability. UAE banks must evolve from technology adopters to integration leaders by ensuring employees receive support, systems are unified, and customer experiences are seamless. The study indicated that the Emirates banks must now focus on backend modernisation and employee training to fully realise their digital investment potential.
Mid East Info
5 days ago
- Business
- Mid East Info
ARTHUR D. LITTLE SURVEY WITH UAE BANKS HIGHLIGHTS DIGITAL COMPLEXITY AND EMPLOYEE READINESS CHALLENGES IN UAE'S OMNICHANNEL BANKING
72% of UAE employees rely on mobile-first channels, but 25% lack confidence in handling multichannel queries. 35% cite complexity of digital platforms as a major barrier to service delivery. Only 10% find it extremely easy to access and use customer information across channels. 42% report difficulties transferring customer issues due to inconsistent service availability. Generational divides remain: employees over 45 show only 28% satisfaction with digital tools. Dubai, UAE: A new survey by Arthur D. Little (ADL) conducted with 42 banks in UAE and KSA reveals that while the UAE banking sector leads the GCC in digital adoption and omnichannel innovation, major challenges remain in ensuring frontline employees are empowered to deliver seamless experiences. The report draws on insights from 24 UAE banks surveyed in ADL's Omnichannel Survey 2024. According to the findings, 72% of UAE employees operate in mobile-first environments, reflecting the country's advanced digital infrastructure. However, 25% of staff report lacking the confidence to manage customer queries across multiple channels. This is compounded by digital platform complexity, with 35% citing interface challenges and fragmented user journeys that disrupt service quality. 'UAE banks have invested heavily in digital infrastructure, but now the focus must shift to employee enablement,' said Martin Rauchenwald, Partner and Global Head of Financial Services practice at Arthur D. Little. 'Bridging the gap between technology and talent is essential to realize the full potential of omnichannel strategies.' Data access and usability also emerge as significant concerns. Only 10% of UAE respondents say it's extremely easy to retrieve and use customer information across platforms, while 30% find it extremely challenging. Fragmented systems and lack of real-time synchronization force staff to rely on manual workarounds, increasing friction and reducing productivity. A further 42% of UAE employees face issues transferring customer problems between channels due to inconsistent service availability. This breakdown in continuity undermines customer trust and employee morale. The Viewpoint notes that real-time backend integration, enabled through cloud and blockchain, is key to overcoming these hurdles. Rezwan Shafique, Principal, Financial Services at Arthur D. Little Middle East, added, 'To deliver truly seamless service, UAE banks must prioritize backend modernization, strengthen cross-channel consistency, and invest in training that's tailored to employee roles, digital fluency, and generational needs.' Generational divides persist. While younger employees under 35 show 60% satisfaction with digital tools, only 28% of those over 45 report the same. Among the dissatisfied older group, 42% attribute their struggle to insufficient training. Targeted mentorship, simulation-based learning, and inclusive upskilling are necessary to bridge these gaps and strengthen readiness across the board. As banks like Emirates NBD and Mashreq pioneer omnichannel models powered by AI and personalization, their success hinges on aligning innovation with workforce capability. he survey concludes that UAE banks must now evolve from technology adopters to integration leaders by ensuring employees are supported, systems are unified, and customer experiences are truly seamless.
Fintech News ME
28-05-2025
- Business
- Fintech News ME
GCC Customers Push for Blended Digital and In-Person Banking
A new survey by Arthur D. Little (ADL), covering 24 banks in the UAE and 18 in the Kingdom of Saudi Arabia (KSA), finds that customers across the Gulf Cooperation Council (GCC) are increasingly seeking integrated omnichannel banking experiences that balance digital convenience with human interaction. The findings show both distinct and converging trends in the UAE and KSA. In the UAE, 72% of respondents primarily use mobile banking apps, reflecting a preference for intuitive, anytime-anywhere digital access. In KSA, 46% cite mobile apps as their main banking channel, indicating ongoing efforts to increase digital adoption as part of the Vision 2030 agenda. A generational trend is evident, with 62% of younger users in the UAE and 56% in Saudi Arabia regularly using mobile banking services. Despite growing digital engagement, physical branches continue to play an important role. Approximately 73% of blue-collar workers in Saudi Arabia and 60% in the UAE still rely on branches for cash-related services and remittances. More complex financial services, such as mortgages and investment advice, also see continued demand for in-person support, with 33% of respondents in KSA and 35% in the UAE preferring branch visits for such needs. 'Banks across the GCC have an urgent opportunity to blend technological innovation with trusted customer engagement,' said Martin Rauchenwald, Partner and Global Head of Financial Services practice at Arthur D. Little. 'Whether in Dubai or Riyadh, today's consumers expect seamless experiences that combine digital efficiency with human connection. Meeting these expectations will be critical for securing customer loyalty and driving future growth.' Income levels appear to influence digital preferences. Around 70% of high-income consumers in the UAE and 65% in KSA prefer digital channels for routine banking tasks but still seek personal advisory services for more complex decisions. Among younger users in the UAE, mobile wallet usage is rising, while in Saudi Arabia, initiatives under Vision 2030 aim to promote wider adoption of cashless payment solutions. 'Successful omnichannel transformation across the GCC must be anchored in customer-centric innovation,' noted Rezwan Shafique, Principal, Financial Services at Arthur D. Little Middle East. 'By enhancing mobile apps, expanding self-service kiosks, and maintaining strong advisory services in branches, banks can bridge the digital divide and deliver unified, inclusive banking ecosystems.' The survey highlights growing customer expectations in both the UAE and Saudi Arabia for consistent 24/7 omnichannel access, personalised digital journeys, user-friendly self-service options, mobile wallet enhancements, and reliable advisory support for major financial decisions. To meet these demands, GCC banks are encouraged to adopt 'phygital' approaches that merge digital and physical service models. This includes the use of AI for personalised experiences, investment in digital literacy initiatives, and the development of hybrid banking ecosystems that address the diverse needs of the region's increasingly digital yet trust-conscious consumers.
Mid East Info
28-05-2025
- Business
- Mid East Info
ARTHUR D. LITTLE SURVEY WITH 42 GCC BANKS HIGHLIGHTS OMNICHANNEL BANKING TRENDS AND OPPORTUNITIES - Middle East Business News and Information
72% of UAE respondents prefer mobile apps as their primary banking channel, compared to 46% in KSA. 38% of KSA respondents emphasize the importance of 24/7 omnichannel service. 73% of blue-collar workers in Saudi Arabia and 60% in the UAE still rely on branches for cash and remittance services. 43% of UAE consumers use self-service kiosks for routine tasks, while 35% of KSA consumers express interest in adopting them. Around 70% of high-income UAE customers and 65% of high-income KSA customers favor digital banking but prefer in-person advisory for complex transactions. Mobile wallet adoption is steadily growing in the UAE, while Vision 2030 initiatives aim to accelerate adoption in KSA. GCC, 28 May 2025 – According to a new survey by Arthur D. Little (ADL) covering 24 banks in the United Arab Emirates (UAE) and 18 banks in the Kingdom of Saudi Arabia (KSA), customers across the Gulf Cooperation Council (GCC) are demanding seamless omnichannel banking experiences that integrate the best of digital convenience and trusted human interaction. The survey findings reveal distinct yet converging patterns in UAE and KSA. In the UAE, 72% of respondents primarily use mobile banking apps, driven by expectations for intuitive, anytime-anywhere access. In contrast, only 46% of KSA respondents cite mobile apps as their primary channel, reflecting ongoing digital transition efforts under Vision 2030. Across both markets, generational shifts are evident: 62% of younger UAE users and 56% of younger Saudi users regularly rely on mobile banking. Despite rapid digital adoption, personal interaction remains vital. Around 73% of blue-collar workers in Saudi Arabia and approximately 60% in the UAE continue to depend on physical branches for cash services and remittances. Complex financial needs such as mortgages and investment advisory also underscore the importance of branches, with 33% of KSA and 35% of UAE consumers preferring in-person support. 'Banks across the GCC have an urgent opportunity to blend technological innovation with trusted customer engagement,' said Martin Rauchenwald, Partner and Global Head of Financial Services practice at Arthur D. Little. 'Whether in Dubai or Riyadh, today's consumers expect seamless experiences that combine digital efficiency with human connection. Meeting these expectations will be critical for securing customer loyalty and driving future growth.' Income levels further influence digital behavior. About 70% of high-income UAE consumers and 65% of high-income KSA consumers favor digital channels for routine transactions, while still preferring personalized advisory for complex services. Mobile wallet adoption is accelerating among younger consumers in the UAE, while Vision 2030 programs aim to drive broader cashless payment usage in Saudi Arabia. 'Successful omnichannel transformation across the GCC must be anchored in customer-centric innovation,' said Rezwan Shafique, Principal, Financial Services at Arthur D. Little Middle East. 'By enhancing mobile apps, expanding self-service kiosks, and maintaining strong advisory services in branches, banks can bridge the digital divide and deliver unified, inclusive banking ecosystems.' The survey highlights that customers across UAE and Saudi Arabia are requesting consistent, 24/7 omnichannel access, personalized digital banking journeys, easy-to-use self-service options, mobile wallet enhancements, and trusted advisory touchpoints for significant financial decisions. To achieve this vision, GCC banks must embrace 'phygital' strategies—seamlessly merging digital and physical banking models. By adopting hybrid service models, leveraging AI-driven personalization, and expanding digital literacy initiatives, financial institutions can build resilient, future-ready ecosystems that meet the evolving needs of the region's digitally empowered yet trust-driven consumers.
