Digitalization in banking sector
-a case study
Answers
Answer:
1. INTRODUCTION Introduction 1.1 Digitization is the process of converting data into digital format. Digitization means the adoption of technology. Digitization is not an option for the banking industry, rather it is inevitable because every industry is being digitized and banking sector is no exception. By embracing digitization, banks can provide enhanced customer services. This provides convenience to customers and helps in saving time. Digitization reduces human error and thus builds customer loyalty. Today, people have round-the-clock access to banks due to online banking. Managing large amounts of cash has also become easier. Digitization has also benefitted customers by facilitating cashless transactions. Customers need not store cash anymore and can make transactions at any place and time The importance of banks in economic activity is one of the main pillars of the national economy, where commercial banks play an important role in facilitating economic transactions and financial transactions. Commercial banks play an important and prominent role in financing both private and public investment operations In addition to its acceptance of private and public sector deposits and its direct contribution to the purchase of shares and shares in local companies, issuing the lists of founders of new industrial companies and participating in the purchase of certificates of deposit, bonds and locally issued loans, commercial banks play their primary role in financing investment operations through the national economy Credit facilities and bank loans for all sectors operating in the country. Banking institutions in Saudi Arabia have begun to invest heavily in the latest IT solutions to facilitate services to their customers and reduce the cost of their labor. Smart banking has become an important sector that generates returns year by year. In view of the importance of the role played by the banking competition in the development and activation of the banking sector in the Kingdom, we wanted to shed light on this search for the status of competition between Saudi banks with respect to digitization, especially, Riyad Bank.
1.2 Objectives of the study: This study aims primarily to clarify the complementary relationship between" Quality of interbank digital services" and Customer Services and how to attract them and Customer Satisfaction with Bank Services. It also seeks to achieve the following objectives: * To define the concept of digitization and its importance in the banking sector * Understand the importance of quality services to customers Analysis of the quality of digitization using banknotes * * To make recommendations in this regard to the relevant authorities. 1.3 Hypothesis of the Study states that- 1. There is a significant statistical impact on the level of the importance of the total marketing of digital banking services. 2. There is a significant statistical impact at the level of importance to the benefits of customers from the use of banking digitization. 3. There is a significant statistical impact on the level of importance of improvement in the marketing of digital banking services. The importance of this study stems from the fact that it aims at shedding light on how to exploit the science of the quality of digitization in the marketing of banking services, which constitute the backbone of commercial banks in a highly volatile competitive environment that changes from time to t