BPC Banking Technologies has released its ‘Digital Banking in The Middle East’ report in collaboration with the fintech consultancy group Fincog.
BPC’s report specifically covers the ever-changing sector of digital banking in the Middle East. The global payment organisation particularly focuses on the countries of the Gulf Cooperation Council (GCC).
The BPC report offers an overview of the digital banking market in the Middle East, alongside the current competitive landscape in the region.
The white paper covers four main topics:
- The Middle Eastern market
- The digital banking landscape
- Key trends across the region
- Opportunities and success factors
BPC looks at how countries such as Saudi Arabia and the UAE have become “industry-leading economies”, thanks to significant oil and gas revenues. In the face of decreasing oil and gas revenues, the report also looks into how governments in the GCC are implementing innovative and diversifying strategies.
The likes of Bahrain’s Economic Vision 2030; the Saudi Vision 2030; UAE’s 2050 strategy and the Kuwait Vision 2035 have all shown the countries’ willingness to support innovation and grow their economies.
BPC looks at a range of stats to understand more about the adoption of digital banking in the region.
To learn more about digital banking in the Middle East, download the full report here.
Digital banking in the Middle East ‘represents a huge opportunity’
Hany Al Deeb, managing director in the GCC and Iraq for BPC, commented on the release of the report. He said: “We’re pleased to share the valuable insights of this research. It is designed to help those who are interested in this exciting space.
“Digital banking is being by a youthful population driving a transition from internet banking to mobile. As a result, we are seeing an array of potential new avenues as digital banking expands across the region.”
“This sector is poised to continue growing at an accelerating pace. It also represents a huge opportunity for dynamic and visionary players.”
BPC has built a strong reputation for understanding and mastering local banking and payment context and behaviour. It is also poised to take on the challenges faced in a highly digitised global economy.
Additionally, with 350 customers across 100 countries globally, BPC has collaborated with all ecosystem players ranging from tier-one banks to neobanks, payment service providers (PSPs) to large processors, ecommerce giants to start-up merchants, and government bodies to local hail riding companies, contributing to better financial inclusion using next-generation technology.