A recent survey by Arthur D. Little (ADL) involving 24 banks in the UAE indicates a significant shift in customer banking preferences, with 72% of respondents favouring mobile applications as their primary banking channel. This trend underscores the growing demand for digital banking solutions in the region.
Despite the rise in digital banking, the survey reveals that 35% of customers still prefer in-person services for complex transactions, such as loan applications and mortgages. Additionally, 43% of respondents regularly use self-service kiosks for routine tasks, highlighting the continued relevance of physical banking channels.
High-income customers exhibit a hybrid approach, with 70% favouring digital solutions for routine banking while relying on in-person advisory services for complex, high-value transactions.
The survey also notes a steady increase in mobile wallet usage, particularly among younger consumers and tech-savvy middle-income groups. This trend aligns with the UAE’s broader digital transformation initiatives.
The findings suggest that UAE banks must adopt a “phygital” strategy, seamlessly merging digital efficiency with trusted human interactions, to meet evolving customer expectations and maintain competitiveness in the financial sector.
