Western Union Consumer Survey Reveals Interesting Personal Banking and Lifestyle Insights within UAE Community

by Mercator Advisory Group 0

With the mercury rising prompting most people to remain indoors or consider their overseas travel plans, a recent consumer survey conducted by Western Union (WU), a specialist in money transfer and global payment services, amongst UAE residents into their personal finance and banking habits showed that most are quite happy to conduct their finance management from indoors – via computer.

In fact, the survey found that nearly half of all respondents (44%) actually prefer internet banking whilst 76% feel safe undertaking their banking over the internet.

The findings, part of a lifestyle survey launched by Western Union, demonstrate the popularity of internet banking in the region and are a firm indicator that Western Union’s recently launched Account Based Money Transfer (ABMT) service is yet another step in the right direction for the company. ABMT is a web-based facility that enables customers to send money through Western Union directly from their bank account – from the comfort of their home and at the click of a button.

Commenting on these findings, Sobia Rahman, Western Union’s Regional Vice President for Pakistan, Afghanistan and the Gulf, said, “There appears to be an extremely positive wave of feeling towards internet banking and the security associated with it. And, this research clearly shows that our customers want the convenience of sending money via electronic channels. Our Account Based Money Transfer (ABMT) service not only allows a customer to easily move money from one location to another, but opens our money-transfer services to a new generation of consumers. We have already announced a strategic partnership with UAE- based Emirates NBD and our ABMT service is available through Emirates NBD online channels. We are currently looking to extend our ABMT footprint with other banks across the Gulf through various banking channels such as online, ATM and mobile.”

An increasing number of customers worldwide are becoming comfortable with using self-service channels. Many are embracing online (as well as ATM and mobile banking), which suggests that there are greater opportunities for increased customer access, interaction, and cross-sell opportunities across the globe.
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