Welcome from Accenture in the the Middle East
Banks in the Gulf Cooperation Council (GCC) expect to face a whole new layer of business imperatives as fundamental economic and demographic changes unfold in their countries.
A gradual shift away from traditional government-driven, large oil-based enterprises to industries such as telecommunications, finance and tourism is creating new avenues for economic growth. As these industries grow, banks will be addressing a more diverse customer base including long neglected segments such as the small and medium enterprises. The target audience for banks will also include youth, especially women—a growing segment on account of higher employment and a demographically young profile. Mobile technologies and the growing number of Internet users are opening up new distribution formats, complementing conventional ways to reach the customer.
In a region with traditionally low customer penetration, banks will compete to acquire and retain customers, underscoring the need to stay differentiated. While with continuing global systemic risk and a tightening regional regulatory environment, it is even more important to ensure a strong competitive position.
To gain deeper insights into how banks are preparing to address the demands of a transforming and fast growing market, Accenture conducted a survey of 47 banks across six GCC countries.
At Accenture, we help Banks become high-performance businesses by supporting them to efficiently execute their strategies. We recognize that the Middle East is a critical and influential participant in the global economy and, as such, this point of view is part of our ongoing commitment to our clients in the Middle East. With our presence in a number of Middle East countries, including the Kingdom of Saudi Arabia, the United Arab Emirates, Qatar and Kuwait, Accenture is committed to becoming part of the economic fabric of all the countries we serve and increase the competitiveness of their economies.
The Accenture Financial Services operating group focuses to help our clients adapt to changing market conditions, including increased cost pressures, industry consolidation, regulatory changes, the creation of common industry standards and protocols, and the move to a more integrated industry model. Our committed Middle East team brings a unique combination of local knowledge and experience with our global presence, industry assets and data, customer friendly approach and years of experience working with leading companies around the world.
We trust you will find the point of view useful, and that it will contribute to a better understanding of the evolving Banking landscape within the GCC.
Financial Services – Middle East
Managing Director - Financial
Services – Middle East
P.O. Box 29002, Abu Dhabi
United Arab Emirates
UAE Mobile: +971(55)405-7780
Accenture Financial Services
View the team