As a wave of digitalisation has been sweeping the banking sector in Saudi Arabia, vast majority (91%) of Saudi residents now prefer online/app banking to traditional alternatives. Consequently, in the first quarter of 2022, the Saudi Central Bank revealed that 13 bank branches and 81 ATMs were closed across the Kingdom.
Recognizing these rapidly evolving customer preferences, Arab National Bank embarked on its digital transformation journey several years ago and recently partnered with Confluent to capitalize on new opportunities for growth.
Confluent, Inc., the data streaming platform to set data in motion, announced that Arab National Bank, one of the largest banks in the Middle East, has successfully leveraged the Confluent Data Streaming Platform to unlock the power of its operational and customer data. This is enabling the bank to introduce innovative new services that enhance customer experiences, and proactively collaborate with the Kingdom’s new breed of agile FinTech companies.
Arab National Bank is also utilizing the real-time transaction insights made possible by Confluent’s data streaming solution to implement a new loyalty program.
Having already realized these and other successes through its partnership with Confluent, Arab National Bank is committed to growing Its digital operations at an accelerated pace.