Blog article
See all stories »

Online Banking In Time Of Covid-19

According to health recommendations, one of the most effective ways to contain the current COVID-19 epidemic is to avoid personal contact. This means reducing the movement of people and increasing the time they spend at home as much as possible. In line with these indications, most banks in the affected countries have reduced the opening hours of their branches and they recommend their customers use online banking

 

To encourage the use of this channel, many banks have taken the opportunity to send out positive messages and to remind their users of the benefits of online banking. These benefits include the ease of carrying out any transaction 24/7 and enjoying permanent access to all financial information in real time. Some banks have also tried to promote online banking by sharing tutorials and expanding the types of transactions customers can carry out remotely.

 

For users themselves, there are also a number of factors driving the increased use of online banking, such as the fear that cash could spread corona virus. Analysts say the psychological factor of people thinking of cash as “unclean” could prompt more adoption of payment methods

 

Data on the use of online banking services in Egypt  shows that 30 % increasing use online banking from January 2020 till March 2020 and in End of 2020 i expected from my Research that the increasing will be 35% in the Middle East Region.

No alt text provided for this image

The author:Mohamed Magdy Zaki AL-Siqiili

 

8341

Comments: (0)

Mohamed Al-Siqilli
Blog group founder

Mohamed Al-Siqilli

Big Data Engineer

AlexBank

Member since

18 Jun 2020

Location

Cairo

Blog posts

1

More from Mohamed

Blog post
Big Data

Online Banking In Time Of Covid-19

This post is from a series of posts in the group:

Big Data

this Group Focusing Big Data Area and Data Engineering /Data Warehouse /Data Analytics


See all