Arab Advisors Group Report Reveals Online Banking Usage

As of December 2015, 23 out of 24 Jordanian banks provided online banking services and 9 banks provided mobile banking through a mobile application

A new report from the Arab Advisors Group provides an analysis of electronic and mobile banking in Jordan. The research further revealed that only 37% of retail banks in Jordan provide both online and mobile banking services.

As of December 2015, 13 Jordanian banks – 54% of the total number of retail banks in Jordan – provided their customers with access to the Central Bank of Jordan electronic billing platform eFAWATEERcom via their online banking channels.

A new report, “Electronic and Mobile Financial Services in Jordan” was published by the Arab Advisors Group in February, 2016. The report sheds the light on the Jordanian banking sector landscape, the impact of online and mobile banking services and financial technology (Fintech) competitors. It also provides an outlook at the future of electronic and mobile banking services. The report also introduces Arab Advisors Group’s Online and Mobile Banking Index, which assesses the level of development of each bank in Jordan in terms of electronic and mobile banking services. The report was based on quantitative and qualitative research done by the Arab Advisors Group in Jordan, and includes analysis based on our Jordan Retail Banking Market Survey, in addition to In-Depth Interviews (IDIs) with a number of Subject Matter Experts in the banking industry.

“14.6% of respondents in our Jordan Retail Banking Market Survey indicated that they utilize online banking, while 4.6% of banked consumers take advantage mobile banking services.” Mr. Malik Malik, Arab Advisors Research Analyst said. Mr. Malik added that “Many banked customers are actually unaware of the electronic and mobile banking services their banks provide, while some aren’t convinced that the online services on hand are robust enough for their liking. Banks will certainly improve with marketing efforts and enhancing their online banking offers over the coming years.”

The Arab Advisors Group’s team of analysts in the region has already produced over 4,300 reports on the Arab World’s communications, media and financial markets. The reports can be purchased individually or received through an annual subscription to Arab Advisors Group’s (www.arabadvisors.com) Strategic Research Services (Media and Telecom).

To date, Arab Advisors Group has served over 900 global and regional companies by providing reliable research analysis and forecasts of Arab communications markets to these clients.