Fintech adoption rate Saudi Arabia 2020, by feature and income

Published by
Amna Puri-Mirza,
Feb 15, 2022
According to a survey on the financial technology sector in the Middle East and North Africa (MENA) region in 2020, connected auto insurance had the highest penetration rate of 14 percent of respondents who were fintech users in Saudi Arabia in the middle income group. Although financial technologies are crucial players of the region's emerging ecosystem, they have to be deployed by banks as their strategic partners.

Share of customers who adopted financial technology solutions in Saudi Arabia in 2020, by feature and income group

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Release date

June 2020

Region

Saudi Arabia

Survey time period

2020

Number of respondents

1,500 respondents

Age group

20-50

Special properties

Respondents were 1,500 banking customers and 50 digital leaders in the Middle East.

Method of interview

Face-to-face interview

Supplementary notes


Surveyed customers were among FinTech adopters were the survey question was as follows: "Which FinTech solution/feature do you use?".

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