State-of-the-art technology throughout its operations gives Samba its competitive edge.

banks around the world have learned that the implementation of e-banking can improve their capabilities as well as helping to create new value strategies. The Saudi Arabian market was initially slow at taking up these types of products, but with constant introduction of new products by recognized and trusted corporations such as Samba Financial Group, it is beginning to pick up and looks set to continue growing in the future.

E-banking entails the provision of retail and small-value banking products and services through electronic channels, including direct deposits, automated teller machines (ATMs), credit and debit cards, telephone banking, electronic bill payment and web-based banking. Such systems provide a faster, easier, and more reliable service to clients, improving banks’ competitive position and image, and helping to meet clients’ demands.

Meeting customers’ needs with high-tech, specialized banking services is one of Samba’s main goals, alongside becoming the market leader in product expertise, innovation, speed and flexibility. The bank has won several awards under the Internet Banking category from Global Finance magazine, including Best Corporate Internet Bank in Saudi Arabia (for three consecutive years) and Best Online Bank.

Private banking continued to do well in 2004, with credit card business in particular showing excellent growth. This rise has been confirmed by credit card company Visa International, which announced that expenditures paid by credit cards in Saudi Arabia increased five times during the first quarter of 2005.

Samba brought in several new sales channels during the course of 2004, including Card-on-Phone, Card-on-Net, Dial-a-Draft, Utility Bill Payments and the Equal Payment Plan. E-care, an automated web-enabled call center for dealing with customer queries and problems, was also introduced last year.
Samba’s corporate and commercial banking customers are not sidelined when it comes to e-banking products SambaAccess is an internet-based electronic banking delivery platform which allows corporate clients to process billions of riyals every week, safely, speedily and accurately. SambaConnect, launched in 2003, is Saudi Arabia’s first comprehensive payment settlement system for internet merchants.