INDUSTRY: BANKING

TOPIC: IMPACT OF INTERNET ON BANKING INDUSTRY

NEWS AND VIEWS:

The advent of Internet has set in motion an electronic revolution in the global banking sector since 1995. Internet banking has become a major fully-fledged distribution channel of banking products and services in developed world. Within one year of the introduction of internet service in Saudi Arabia, Saudi banks have at least decided on their Internet presence. 73% of the Saudi banks possess their own web sites and 25% of the web sites are offering full services over Internet. They are increasingly viewing the Internet as a key alternative delivery channel. However, there is no specific strategy for exploiting the opportunities offered by Internet. Hence, Saudi banks via Internet have much to improve in their Websites.

Saudi Arabian Banks on the Web

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