Omnichannel Banking in Saudi Arabia Drives User Demand
Riyadh, Saudi Arabia — A new study by Arthur D. Little, in collaboration with 18 Saudi banks, reveals a rising demand for seamless, integrated banking services. Customers now expect a blend of digital efficiency and human interaction. 38% of Saudi participants said 24/7 service is essential, reflecting a growing need for omnichannel support.
In-Person Services Remain Essential
Although digital tools are widespread, many consumers still prefer in-person interactions—especially for complex transactions. The survey showed that 73% of low-income customers rely on branches for cash services and money transfers. Meanwhile, 35% said they would welcome self-service kiosks to handle basic tasks. However, mobile banking adoption remains low. Only 46% of users in Saudi Arabia utilize mobile apps as their primary banking channel in the context of omnichannel banking.
Demographics Shape Banking Preferences
Age and income levels strongly influence user behavior. Among those aged 18 to 24, about 56% use mobile banking regularly. Additionally, 65% of high-income customers prefer digital platforms. Still, many seek face-to-face advice for high-value financial decisions. Notably, 33% of participants said they would visit branches to apply for loans or mortgages. This highlights the ongoing need for personal support, which is vital for successful omnichannel banking in Saudi Arabia.
Expert Insight: Merging Digital with Personal
Martin Rauchenevald, Global Head of Financial Services Practice at Arthur D. Little, stated:
“Saudi banks have a rare chance to upgrade customer interaction. By combining digital innovation with personal advice, they can meet the evolving needs of a diverse population. As Vision 2030 advances, always-on service across channels will become a key success factor.”
Vision 2030 Drives Digital Payment Growth
Vision 2030 promotes the use of digital wallets and cashless payments. Yet, older users adopt these tools at a slower pace. Omnichannel banking in Saudi Arabia must address this by educating and incentivizing its customers. High-income users are also slow to embrace digital wealth tools. Many still prefer in-person financial planning.
Bridging the Gap: Trusted and Tech-Enabled
Radwan Shafiq, Director of Financial Services at Arthur D. Little Middle East, added:
“For omnichannel banking to succeed, banks must offer easy digital solutions supported by human contact. Combining kiosks, digital wallets, and AI-powered help with trusted advice will close the gap between tech and trust.”
Consumer Demands Call for Hybrid Solutions
The study also found that Saudi customers want broader digital options. As omnichannel banking in Saudi Arabia evolves, customers seek easy self-service tools in branches, strong in-branch services for cash and transfers, and better access to digital wallets and customized wealth management tools.
The Path Forward: Phygital Banking
To meet these demands, banks must go “phygital”—blending digital speed with personal care. By embracing hybrid models, Saudi banks can offer safe, tailored, and full-service experiences. This will help them lead in the highly competitive omnichannel banking market in Saudi Arabia.
