The Saudi Arabian banking industry is experiencing significant change, spurred by Vision 2030 and the advancement of digital technology. Financial institutions are focusing on improving customer experiences, innovating services, and competing in a more dynamic market. The Saudi Arabian Monetary Authority (SAMA) has implemented progressive regulations to promote financial inclusion, enhance digital banking, and create opportunities for both traditional banks and fintech firms.
Understanding customer sentiment is crucial in this evolving landscape. The 2024 KSA Banking Sentiment Index, developed with DataEQ, provides an in-depth analysis of consumer opinions. By reviewing over 62,800 public mentions from May to December 2023, the report highlights key trends in the sector, including digital transformation, service quality, and new challenges.
This report offers valuable insights into the changing preferences and concerns of banking customers in Saudi Arabia. It reveals how sentiment is influencing the industry’s future and how banks are adapting to meet these emerging demands.