For most expats, mobile banking is more than a convenience — it’s their primary way to manage finances without visiting a branch. So, we analyzed how well the UAE’s top banks deliver this experience. We explored everything from the ease of opening an account to the security of daily transactions and transparency of fees and services across 11 of the most popular apps. The key artifact of the research is a set of gaps — both between audience demand and the actual offerings, and between the capabilities of different mobile banks.
The public report offers a valuable look at insights that can shape the future of mobile banking in the region. We cover key opportunities for banks, best practices, and some hidden challenges that could make a big difference in customer satisfaction.
To get the most of Mobile Banking Review UAE 2024, order the full report. If you’re a banking professional in the UAE or MENA region, our findings can serve as a valuable resource, helping refine strategies, enhance user experiences, and ultimately drive growth by better meeting customer needs. The document contains over 100 insights categorized into opportunities, values, and challenges in mobile banking in the region, detailed descriptions of UX issues and solutions, and 50+ best practices from leading mobile banks worldwide.
The presentation of this research took place on November 14 with the support of the MENA Fintech Association. You can access the recording here.
Contents
Research scope: ADCB, ADIB, Al Hilal Bank, MBank (Al Maryah Community Bank), CBD, Dubai Islamic Bank, Emirates NBD, FAB, Mashreq, RAKBANK, WIO Bank.
Mobile banking in the UAE distinguishes itself globally with significant advantages. Banking is now primarily conducted through mobile apps, making mobile banking the main channel for customer interactions. Customers can open accounts entirely online, with no need for branch visits, simply by submitting applications through the mobile app. Local transfers are fast and simple, a feature highly valued by expats. Additionally, many banks offer accounts with no fees, minimum balance, or transaction requirements, making digital banking accessible to all expats. Nearly all new products for existing customers can be requested and opened directly through mobile apps, creating a seamless experience for users.
Key areas for growth remain:
Don’t miss a chance to get the public report! Inside the document, you will find an analysis of the context in which mobile banking is developing in the UAE, along with key insights across five growth areas for apps, including respondent quotes, examples of UX issues, and best practices for addressing them.
Markswebb forecasts a strong trend toward simplifying banking products and enhancing user experience. Banks like Liv and WIO highlight a shift toward more streamlined, user-friendly digital banking, and more banks are likely to invest in improving digital customer satisfaction. Simplifying account opening and making banking products easier to access will increase competition for customer retention, elevating the importance of exceptional customer experiences over simple price competition.
Experiences in other countries show that improvements in digital banking often stimulate demand for enhanced digital services in related financial products, such as insurance and investment. Banks, with their well-developed digital channels, are well-positioned to lead in providing these products to the market.
Globally, mobile banking dominates the finance category, especially with large, traditional banks leading over neobanks, though the U.S. is an exception. While fintech startups capture much attention, mobile banks drive impact with larger user bases, resources, and greater innovation potential. This is especially true in the Western world (Europe, North America, Australia).
In Asia and Africa, where many are unbanked and lack smartphones, popular financial apps tend to be digital wallets or payment services. The UAE lies between these models; of the top 10 most-used finance apps, only 4 are mobile banks. UAE banks face strong competition from each other and from major regional players like PhonePe and TapTap. The future of UAE mobile banking will hinge on how this competition unfolds and whether local banks can advance their digital services quickly enough.
Nearly 90% of UAE residents are expats with diverse backgrounds and banking experiences, posing unique challenges for UAE banks. For example, a German expat used to desktop online banking found app-only banking in the UAE challenging due to smaller screens and new layouts. However, many expats report an improved digital banking experience in the UAE, though issues remain. The exception is highly skilled expats accustomed to advanced digital services across multiple developed countries, who often find UAE mobile banking less sophisticated by comparison.
All 11 UAE mobile banks we studied allow new clients to apply for an account online, which is a significant achievement, enabling remote ID verification and digital agreement signing. Compared to many other countries, especially for expats, fully online account opening is rare, making this a standard “must-have” in the UAE.
However, only 4 of the 11 banks open accounts instantly after mobile application; in others, delays of several days can lead to clients opening accounts elsewhere.
The most effective process is fully integrated, where all steps—ID verification, KYC, product selection, and device registration—are completed seamlessly, and the client is logged into the app with an active account. Yet, some banks split the process into separate steps, such as registering first and applying later, which creates redundancies that lower satisfaction and increase process time by 15% or more. Simplifying account opening by merging steps is essential to improve client experience.
Have a look at CJM of opening an account in FAB:
A second issue with split processes, especially when registration is separate, is that clients have too much freedom after registering and may exit the app without completing the account setup. A streamlined, continuous flow from registration to account opening helps minimize drop-off by keeping clients focused.
This can be illustrated with CJM of opening an account in Al Hilal:
Newly arrived expats, even those interested in digital banking, often prefer in-branch or in-person account opening due to unfamiliarity and a need for guidance. Most UAE banks promote account opening via the app as self-service, yet they offer no support during the process. Al Hilal allows access to in-app chat for assistance, while Liv offers WhatsApp support, though the contact details are easily missed and hard to access once the process begins.
Clear information upfront about client eligibility and required documents would also improve the process.
On the picture below you see Liv, Mashreq and DIB mobile banking apps:
We recommend a unified process combining application and registration, reducing steps, offering in-process support, and providing clear, upfront information on requirements and timing.
Eight out of 11 banks do not allow mobile app users to view general service fees and terms. Three banks do provide access, but each has its own challenges.
In Al Hilal, fees are available as a PDF, but the small text and tables are not optimized for smartphones, requiring constant zooming. Liv presents fees in a mobile-friendly format, but it includes irrelevant sections, such as student fee waivers for clients over 23. In WIO, fee information is labeled as “subscription” and is hidden in “Settings,” making it difficult to find.
Additionally, three banks do not display transfer fees before users confirm a transfer. In FAB, users enter the transfer amount and choose who pays the fee, but the fee amount only appears after entering a security code. One respondent shared a frustrating experience trying to transfer their full balance, only to receive an error due to insufficient funds without seeing the fee. This required them to guess and adjust the transfer amount repeatedly.
On the picture below you see Al Hilal, LIV, WIO and Fab mobile banking apps:
Our review of UAE mobile banks' international transfer processes found that, while similar to global standards, addressing a few common UX issues could make these banks a more convenient choice.
In the Liv app, users must enter the recipient’s full address across four separate fields with no autofill, which is time-consuming. A single address field with autofill would streamline this. In RAK Bank, fee and limit details are displayed in six cluttered lines, making quick scanning difficult. Abu Dhabi Islamic Bank’s app has a “cooling-off period” for new recipients, requiring clients to wait several hours for approval before completing a transfer.
On the picture below you see Liv, RAK Bank and ADIB mobile banking apps:
Many expats are highly concerned about security in mobile banking. We found two groups: those who feel secure and those who remain anxious, often due to personal or known experiences with fraud.
To increase security, some clients rely on temporary card blocking, keeping cards blocked by default and only unblocking for transactions—a cumbersome process not meant for frequent use. More effective solutions, like BBVA in Spain, send a transaction confirmation request to the app, allowing clients to approve with fewer steps. This could also apply to offline payments and withdrawals.
Another concern is the lack of added security for high-risk transactions, such as large international transfers. UAE banks could adopt a risk-based approach, requiring minimal authentication for low-risk tasks but extra verification (e.g., OTP plus security question) for high-risk actions, balancing ease with security.
Additionally, many banks rely on login credentials and complex passwords, which suit browser access but are inconvenient in mobile apps. Expats also note the absence of real-time balance updates, which would help create a sense of security. Real-time monitoring is a key area for improvement in UAE mobile banking.
9 out of 11 UAE mobile banks don’t allow clients to set a short PIN for app login, 5 out of 11 don’t support biometric authentication.
While customers say they prefer using in-app chat for support, they tend to call when issues arise. This is because half of the banks analyzed lack in-app chat or a chat option through messengers. Even when chat is available, clients feel phone calls offer quicker access to live agents and faster resolutions.
Clients currently see chat as too slow, so regional banks should work to change this perception. Improving support requires a shift in mindset and enhanced efficiency and automation.
Key principles for better customer satisfaction include:
See quotes, UX issues examples and best practices in the public report — download it now!
Markswebb uses a tailored evaluation framework designed to address the specific nuances of mobile banking for expatriates in the UAE. Our unique methodology combines in-depth user insights and rigorous analysis to evaluate mobile banking experiences in the UAE.
In-depth interviews with expats
The research highlights gaps between the expectations of expatriates and the current offerings by mobile banking apps in the UAE. While many apps provide robust functionalities, there are notable differences in the ease of use, transparency in fees, and the ability to complete international transfers seamlessly. By identifying best practices from both the UAE and European markets, the report offers solutions for improving these critical services.
Detailed analysis of major mobile banks
Second, we conducted a detailed study of the functionality, interfaces, and customer journeys across 11 regional mobile banks. We selected apps from local banks with the highest number of installs and, using mystery shopping methods, completed key user tasks—from opening a new account to obtaining a current account balance certificate. We analyzed these scenarios for how well they meet the needs of expats and to compare mobile banks with one another.
Global expertise in mobile banking
We incorporated our global experience in mobile banking research, specifically our own system for assessing the quality of customer experience in mobile banking apps, which includes over 1,000 evaluation criteria and a reference base of best practices for specific user tasks in mobile banks worldwide. This approach has allowed us not only to assess UAE mobile banks within the local context but also to compare them with global digital banking trends.
The public results in this report are only a small part of the insights we gathered during our research. The full report includes much more information on mobile banking development opportunities, issues your clients face, best practices implemented by your competitors, and ideas awaiting realization in the UAE market.
It is a tool that will save your researchers, product owners, and designers hundreds of hours, providing ideas and market analytics throughout the next year.
Key features of the Mobile Banking Review UAE 2024 report:
Full report will benefit not only banking teams in the UAE but also banks across the MENA region—many of the insights we uncovered are applicable to banking services across borders. Moreover, it will also be valuable for other digital businesses competing in payments, transfers, and loans.
Contact us to explore how we can help you elevate your mobile banking app!
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