Desktop banking trumps mobile banking in UAE; report

compareit4me.com found UAE consumers are satisfied with Internet banking services, yet improvements are still required

Tags: Banking and financeUnited Arab Emiratescompareit4me.com (compareit4me.com)
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Desktop banking trumps mobile banking in UAE; report Samer Chehab: "If banks really want to attract more mobile users, our survey results indicate a need for greater education on the benefits of mobile banking."
By  Aasha Bodhani Published  October 27, 2016

A survey conducted by compareit4me.com, discovered that UAE consumers prefer to conduct online banking through a bank's desktop site than via mobile or tablet app.

The report, which surveyed almost 1400 UAE residents, found that 36% of consumers prefer to access Internet banking through a mobile or tablet app, whereas 42% indicated that they prefer the traditional method via their bank's desktop site.

Samer Chehab, COO of compareit4me.com, said: "The UAE's banks have done a fantastic job in bringing mobile banking services to market with a vast array of innovative banking apps. But it appears that customers still view banking as a job to be done at a ‘proper' workstation, through a desktop website. This could be down to a perception that desktop banking is somehow more secure, or it could be that consumers simply don't realise that the majority of banking services are now available on mobile.

"If banks really want to attract more mobile users, our survey results indicate a need for greater education on the benefits of mobile banking. Concerns about mobile banking safety need to be addressed, and the convenience of having most banking functions available in your pocket needs to be pushed further."

The survey also found that consumers were generally satisfied with the available Internet banking services, however improvements could still be made. Respondents cited some of the frustrations included the lack of access to all information online and also online banking does not offer the same services as visiting a branch does.

 Furthermore, the results showed the majority of consumers use Internet banking for checking their account balance, paying bills, money transfers and downloading bank statements.

"Given that our survey respondents indicated a preference for convenience when it comes to banking services, it seems strange that more consumers aren't opting for mobile. We can only assume that users view simple banking tasks and more complex banking tasks in the same way - i.e. banking tasks can't possibly be easy enough to complete with a few clicks on a mobile phone," concluded Chehab.

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