INTELLIGENT BRANDS // Mobile Technology
Avaya Survey
finds KSA
customers prefer
mobile banking
B
anking customers in the Kingdom
of Saudi Arabia are increasingly
using digital channels to conduct
their transactions, with mobile banking
leading the way, according to a new
survey from Avaya.
The findings reveal that Saudi
customers’ most-preferred channel
for accessing banking services is via a
mobile app, while 40% of respondents
said it was a priority to have everything
on their mobile device – the highest out
of nine countries surveyed.
The Customer Experience in Banking
Survey, conducted with YouGov, queried
more than 10,000 banking customers
in two waves – the first covering the
UK, UAE, India and Australia, and the
second France, Germany, Italy, KSA and
South Africa.
Almost a quarter (24%) of respondents
in both the UAE and Saudi Arabia said a
mobile app was their preferred channel,
behind only India and South Africa, and
much higher compared to just 8% in
Germany and 10% in France.
Saudi Arabia already has one of the
highest mobile penetration rates in the
region, with a population penetration rate
of 140% as of Q1 2017, according to a
report by the Ministry of Communication
and Information Technology.
Saudi banking customers are also more
likely to change their banks because of
poor customer service – and less likely to
give the bank a chance to do something
about it. While more than half (52%)
would change banks – the highest out of
all nine countries – only 37% would lodge
a complaint, the lowest of the countries
surveyed. When asked to assess what was
important to them in interacting with their
bank, top demands from KSA banking
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customers include wanting
to have the same level of
experience and service
across all channels, and for
their problems to be resolved
on the first point of contact,
all regardless of which
contact channel they used.
While more robust digital
channels are one way
for banks to improve the
customer experience, almost
a quarter of those in the
Kingdom would still prefer to
visit their bank’s branch and
speak with a relationship
officer for services.
Virtual Financial Advisors
(VFAs) – representatives
from the bank who engage
customers through virtual
means and service them
remotely with online tools –
seem to be an ideal solution
based on the preferences
of KSA respondents.
According to the survey,
the most valued benefit
of having a VFA is being able to resolve
their banking inquiries faster, regardless
of the contact centre channel they use.
Customers in the Kingdom generally
prefer not to be contacted by their bank
for promotional offers or new services.
But they want to hear from their bank
when it comes to renewing their credit
cards or services before they expire, and
dealing with problematic or potentially
fraudulent transactions. Nearly a quarter
of respondents (23%) say that they
would not want to be contacted for any
of these issues, preferring to contact the
bank only when they need to.
“Getting customer experience right is
vital for banks in KSA, and it is clear
that delivering a superior customer
experience requires coordination
across all touchpoints—whether
online or offline,” says Yaser Alzubaidi,
Engagement Solutions Sales Leader
for Asia Pacific, Middle East and Africa
(AMEA) at Avaya. “Banks in the region
are increasingly investing in digital
transformation to deliver the right
customer experience. However, it really
comes down to personal autonomy and
giving consumers the opportunity to
choose the way they interact with their
bank. That is where new technologies
can really make a difference. Moreover,
these new technologies help customers
to do what they want to do as fast and
effectively as possible.” n
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