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Banking Goes High-Tech, but Branch Network Will Grow
Kamel Salah,
Special to Arab News
JEDDAH, 20 May 2003 — The arrival of electronic banking in the Kingdom will be
accompanied by an expansion of the network of bank branches that may at first
sight seem counterintuitive, according to bank professionals. Far from replacing
the traditional branch, phone and Internet banking are simply adding another
dimension to customer service.
The Saudi British Bank (SABB) is investing heavily in Internet and telephone
banking services. “Extensive investment is planned in both our SABB Direct
Telephone Banking and ABBNET Internet banking services,” Abdul Aziz Al-Manie,
senior manager for public affairs, told Arab News. He added that SABB would
continue to increase the branch network as well as ATMs and self service
terminals.
Nabil Al-Ajroush, senior vice president of Riyad Bank, also said the bank was
expanding Internet and telephone banking as well as the number of branches.
“Customer surveys show that branches are still the preferred delivery channel
for financial services,” Al-Ajroush said. “The ratio of bank branches to the
population in Saudi Arabia is not high, hence we do not want to decrease the
number of branches,” he added.
Although Saudi costumers welcome new banking technologies they are still looking
for more branches from their favorite banks. Gamal Rashid, a 40-year-old
contractor, needs to make daily banking transactions. “ I have never used the
online option for my banking transactions, and I never use the ATM machines to
deposit my money,” he said. I just use them to withdraw cash or to get a
statement.
“I feel more confident dealing with a teller,” he added.
Zuhair Nour is a 37-year-old businessman with accounts in several banks. “I use
online banking and ATM machines for almost all my transactions. But I trust
banks that have branches everywhere in the city more than banks with a few
branches.
“It seems to me that banks with many branches take better care of their
customers, and it’s good to see your favorite bank’s name everywhere. If I have
any inquiries it’s easy to get in touch with my bank.”
Copyright © 2003- Arab News- . compiled by Saudia-Online.com
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