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What’s trending

Confluent, announced that Arab National Bank, one of the largest banks in the Middle East, has successfully leveraged the Confluent Data Streaming Platform to unlock the power of its operational and customer data. This is enabling the bank to introduce innovative new services that enhance customer experiences, and proactively collaborate with the Saudi Arabia’s new breed of agile FinTech companies.

As a wave of digitalisation has been sweeping the banking sector in Saudi Arabia, a recent YouGov survey reports the vast majority, 91% of Saudi residents now prefer online banking to traditional alternatives. Consequently, in the first quarter of 2022, the Saudi Central Bank revealed that 13 bank branches and 81 ATMs were closed across the Saudi Arabia. Recognising these rapidly evolving customer preferences, Arab National Bank embarked on its digital transformation journey several years ago and recently partnered with Confluent to capitalise on new opportunities for growth.

Equally important has been the Bank’s ability to create compelling new offerings for Its customers. One of these has been a service that simplifies and streamlines savings by analysing transactions in real-time, and automatically transferring funds to a customer’s current account based on their predefined savings criteria.

Arab National Bank is also utilising the realtime transaction insights made possible by Confluent’s data streaming solution to implement a new loyalty program.

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