Household and Small-Business Consumption of Banking Services by Direct Channels

  • In 2018, the upward trend of customer use of direct channels for banking continued.  The encouragement of the use of direct channels contributed to making banking services more accessible and to lowering the costs of those services for customers.
  • The increase in the rate of direct channel transactions by households continued. There was a marked increase in all types of transactions and at all banks.  Sixty percent of all transactions by households across the entire banking system were done through direct channels in 2018, compared with 55 percent in 2017 and 45 percent in 2016.
  • Households have a clear preference for using direct channels to obtain information. About 86 percent of enquiries for information are through direct channels, with the first preference among all ages to receive information via cellular application (45 percent of enquiries).
  • In most banks, there was an increase in the use of direct channels by businesses in 2018.  But despite the increase, the rate of business use of direct channels is low compared with households, mainly due to the need for dedicated solutions for businesses.
  • The Banking Supervision Department is continuing to act to enable the transition to direct channels, by removing regulatory barriers.
  • A satisfaction survey conducted by the Banking Supervision Department showed that households that use the banking application or the bank's website are very satisfied with the banking services they receive.​