Views On Digital

Banking In KSA
October - 2021

© Ipsos | Views on Digital Banking in KSA

 Usage of
Digital Banking

© Ipsos | Views on Digital Banking in KSA

Usage Of Digital Banking Channels

% Use – By Demographics
96% 96% 96% 95% 96% 95% 95% 96% 95%
93% 92%
91%

95%
Male

Gen X

Social Class A
Female

Gen Z

Gen Y

Social Class B

Social Class C
As i a n E x p a t s
Ar a b E x p a t s
Baby Boomers

Nationals
Have Used Digital
Banking Channels

© Ipsos | Views on Digital Banking in KSA

Most Preferred Banking Channel

% Prefer

59% 18% 12% 4% 4%

Mobile Banking Online Banking ATM Visit Bank Call Centre

Application Website Branch

© Ipsos | Views on Digital Banking in KSA

 Attitudes
Towards Financial
Services
Providers

© Ipsos | Views on Digital Banking in KSA

Attitudes Towards Non-Traditional Financial Services
Providers

% Agree – By Demographics

50% 51%
46% 45%
42% 42% 41%
38% 39%
36% 37%
35%

41%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
Non-traditional
financial services
providers will be the
future of finance

© Ipsos | Views on Digital Banking in KSA

Trust Levels Towards Different Service Providers For
Financial Transactions

% Trust

61% 47% 40% 27%

Traditional Banks Mobile Service Well-Known Digital Online-Only Banks

Providers Brands

© Ipsos | Views on Digital Banking in KSA

Trust In Traditional Banks

% Trust – By Demographics

64% 65%
63% 63% 63%
60% 61% 60% 60%
59% 59%

48%

61%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
Traditional Banks

© Ipsos | Views on Digital Banking in KSA

Trust In Mobile Service Providers

% Trust – By Demographics

59%
56% 56%
50% 50%
48%
46% 46%
42% 43%
41%
38%

47%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
Mobile Service
Providers

© Ipsos | Views on Digital Banking in KSA

Trust In Digital Brands

% Trust – By Demographics

53%
48%
45%
43% 43%
41%
37% 38%
34% 35% 35%
33%

40%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
Well-Known Digital
Brands

© Ipsos | Views on Digital Banking in KSA

Trust In Online-Only Banks

% Trust – By Demographics

39%
34% 33%
30% 30%
27% 27%
25% 25% 24%
27% 22% 22%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
Online-Only Banks

© Ipsos | Views on Digital Banking in KSA

 Future
Outlook Towards
Financial
Services

© Ipsos | Views on Digital Banking in KSA

Attitudes Towards New Financial Services

% Agree

63% 58%

I will be doing all my financial In the future, people will no

transactions through digital longer use cash as a method
banking in the future of payment

© Ipsos | Views on Digital Banking in KSA

Digital Banking Future Usage Intentions

% Agree – By Demographics

70%
65% 64% 64% 65% 64%
63% 63% 62%
61% 60%
59%

63%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
I will be doing all my
financial transactions
through digital banking
in the future

© Ipsos | Views on Digital Banking in KSA

Views On The Future Of Cash

% Agree – By Demographics

67%
64%
61%
58% 58% 59% 59%
56% 56% 57%
55%
52%

58%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
In the future, people
will no longer use
cash as a method of
payment

© Ipsos | Views on Digital Banking in KSA

Willingness To Adopt New Financial Services

49% 43%

I am willing to try new I am always one of the first

financial services and to adopt new digital financial
payment methods services

© Ipsos | Views on Digital Banking in KSA

Willingness To Try New Financial Services

% Agree – By Demographics

57% 56%
52% 52% 51% 51%
49%
47% 46% 46%
45%
43%

49%

As i a n E x p a t s
Male

Gen Y

Baby Boomers
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
I am willing to try
new financial
services and
payment methods

© Ipsos | Views on Digital Banking in KSA

Early Adoption Of New Digital Financial Services

% Agree – By Demographics

56%
52%
47% 46% 46%
43% 43% 44%
40%
38% 38%
36%

43%
Male

Baby Boomers
Gen Y

As i a n E x p a t s
Female

Ar a b E x p a t s

Social Class A
Gen Z

Gen X

Social Class B

Social Class C
Nationals
I am always one of
the first to adopt
new digital financial
services

© Ipsos | Views on Digital Banking in KSA

 Methodology
Sample Size Sample Criteria
1000 Respondents The Survey Covered Nationals &
Expats aged 18 years old and
above, Males and Females, Socio-
Economic Class C & above, and
have an active bank account
© Ipsos | Views on Digital Banking in KSA
Methodology
The Survey Was Conducted Via
The Ipsos Online Panel as part of
the syndicated "BankScape" study
conducted by Ipsos in KSA
Geographical Coverage
Conducted in Saudi Arabia,
Across The Kingdom
For More Information:

Mohamad Jobeilly Mohammed Minawi

Senior Research Manager Chief Commercial Officer
IPSOS in KSA IPSOS in MENA
Email: Mohamad.Jobeilly@Ipsos.com Email: Mohammed.Minawi@Ipsos.com

© Ipsos | Views on Digital Banking in KSA