The possibility of rendering all banking services electronically, with adequate security and at the lowest possible cost, is pushing banks towards the Internet. While the banks in developed countries are working primarily via internet as non-branch banks, Saudi banks use the Internet as an information delivery tool to improve relationship with customers. Among the Saudi banks, some are using it as an electronic brochure. Very few are using as banking channel. This article presents a survey on web sites of Saudi banks in order to learn about the Internet use by the banks.
Online banking is still a very marginal activity in Saudi Arabia.
Internet is currently being used by the Saudi banks mainly for brand awareness and promotion. The dynamic and imperatives of e-finance will push Saudi banks to build web site and to start Internet banking. For example, since people are coming to know the Internet banking system, they will soon start asking for this service from their banks thus putting pressure on the banks to go ahead fast with Internet banking. So all the Saudi banks will have a web presence as the cost advantages are so huge that there is no reason not to try it out. There is necessarily first mover advantages also.