The State of Digital and Mobile Presence among UAE Banks

The UAE banking sector has experienced significant transformation, becoming a vibrant and innovative player on the global financial stage. As of January 2024, the sector boasts 61 licensed banks, including 23 national and 38 foreign banks, highlighting the UAE's role as an attractive global financial hub for international banking entities.

There's been a notable shift towards optimizing physical infrastructure, with the branch network decreasing from 960 in December 2015 to 564 in September 2023. Meanwhile, digital banking has flourished, with applications from UAE national banks on Google Play jumping from 17 in 2015 to 123 by the end of 2023. This surge in digital services reflects a broader trend towards innovation and the adoption of technology-driven banking solutions.

To identify the leaders in digital banking within the UAE, we utilized SimilarWeb tools to gather website traffic data and sourced the total number of application downloads from the Google Play Store for the banks and their subsidiaries. It is essential to note that this analysis focused solely on the main websites and applications of the banks and their subsidiaries, with their international websites and applications being analyzed separately. Through this detailed examination, the digital banking status of each bank is clearly outlined in the provided chart.

Comprehensive Analysis of Digital Banking in the UAE Emirates

In this landscape, to identify which emirates are leading in digital banking, our study is exclusively focused on the national banks of the UAE. We initially identified all the national banks with their head offices registered in each emirate. Then, we gathered website traffic data from SimilarWeb tools and the total number of application downloads from the Google Play Store for the banks of each emirate and their subsidiaries. Finally, through the analysis of the extracted data, the digital banking status of each emirate is outlined in this chart. The digital banking landscape in the United Arab Emirates presents a market highly concentrated in specific regions, particularly in Dubai and Abu Dhabi. An in-depth analysis of application downloads and website visits underscores this trend

In stark contrast, other emirates within the UAE exhibit considerably lower levels of digital banking engagement. This distribution is also reflected in the number of licensed banks, with Dubai and Abu Dhabi together hosting 15 out of the 23 banks in the entire region. The disparity in digital banking usage across the UAE highlights a clear divide, with the bulk of activity centered in Dubai and Abu Dhabi, while other emirates present much lower engagement figures.

Mapping the Digital Footprint: Analyzing the International Reach of UAE's National Banks

To understand the global reach and customer base of the UAE's national banks, an in-depth analysis was performed on the geographical distribution of visitors to their main websites. Given the international presence of these banks through physical branches or representative offices outside the Emirates, it's crucial to assess how effectively their digital platforms serve both domestic and international clients. Utilizing SimilarWeb tools, we analyzed traffic data from the main websites of the UAE's national banks.

The findings revealed that the majority of the website traffic originates from within the UAE, accounting for 73% of the total visits. This demonstrates a strong domestic engagement with digital banking services. Following the UAE, significant web traffic was observed from international markets, with India, Turkey, Saudi Arabia, the United States, and Egypt being the top countries in terms of site visits. These insights are visually represented in the accompanying chart, showcasing the proportional distribution of website visits from each country.

This analysis not only highlights the domestic dominance in digital engagement but also sheds light on the international appeal and reach of the UAE's banking sector, underlining its global connectivity and the diverse geography of its customer base.

You can view and read the full report from the link below.

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I am Majid Dodehaki, a seasoned Fintech Advisor with specialized expertise in the UAE's banking sector and the broader fintech ecosystem. My extensive research, analysis, and hands-on experience provide me with profound insights into market trends, digital innovations, and strategic growth opportunities. I offer consultancy in strategic planning, digital transformation, market analysis, and fintech ecosystem analysis, including monitoring fintech startups for investment or partnership opportunities. If you're looking to expand, innovate, or forge strategic partnerships in the banking and fintech sectors within the UAE, let's connect and discuss how we can achieve your objectives with informed, strategic decisions.

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