project

The collective practices of any banking business are to promote and support national economic progression through increasing the operational revenues, credit as well as deposit facilities. In any nation, the banking division is in charge of supporting and funding investment portfolio, generating big profits and expanding the states national reserve. During the times of economic depression and difficulties, the bank in that nation assists in equivocating risk as well as financing palpable investments to improve and stabilize the economy. Banks in any nation are projected to be well-financed and imbibe controlled loaning culture to bring the necessary viable growth as well as development in that nation. These particular aspects are the principles of the banking sector to be able to support the country's economic evolution, growth in addition to development. Thus, it is important to maintain and attain a healthy competitive advantage in the banking sector to allow for sustainable growth of the country's economy and to attract investors.

Literature review

Competitive advantage in banking is a far-reaching conception that transacts or operate with the business engineering process (BRP) to put a banking business ahead of other banking competitors in that nation. Competitive advantage usually addresses what the bank has in store that will enable it to attain an advantage over other banks in a competitive market (Noe, et al., 2017). Mechanisms in the operation of the organization such as strategic organization and planning, competitive intellect, corporate social accountability, modernization, and creativeness are important drivers in ensuring that RIYAD Bank gets a competitive advantage over other banks. All these constructs are aimed at improving service delivery to the customers and offer products that will satisfy its consumers (Noe, et al., 2017). Since customers are the core center of any banking operations, ensuring that they are offered quality products and services to their satisfaction will greatly improve the competitiveness of RIYAD BANK.

Digitization is one constructs in the modern banking systems that have led to the increased competitive advantage of any bank that has adopted it. Digitization in banking has led to the conversion of data and information into a digital set-up through the adoption and implementation technology. In Saudi Arabia, RIYAD bank have embraced digitalization in providing improved services to their customers (Chahal, & Bakshi, 2015). This move has provided customers with ease and convenience, which has enabled them to save time when doing transactions. Moreover , it has led to reduced human error in the banking world consequently, building customer loyalty. Banks, which has adopted digitization, thus, have an increased competitive advantage over those still using outdated banking systems and procedures (Chahal, & Bakshi, 2015). Also, some banks have resulted in the merger with other banks to help them increase their competitive advantage in the competitive market. For instance, there are ongoing talks for a merger between Riyadh Bank and NCB, which are two of the largest banking organization in Saudi Arabia. The Merger between the two banks will give a huge competitive advantage over other banks in the nation, as it will increase their assets and influence in the Saudi's markets.

Currently, many banks in Saudi Arabia have incorporated digitization in improving service delivery to its customers. This has been greatly influenced by the battle by all the banking institutions to gain the competitive advantage of each other in the provision of services to the growing customer base in the Kingdom. The Saudi government through the National Plan for Telecommunication and IT which was sanctioned in 2007, as well as the National Transformation Program in Vision 2030, have supported the transformation of banking transactions in the nation to digital or E-transactions (Parameswar, Dhir, & Dhir, 2017). This provision has made banking to millions of Saudis seamless and convenient in their day-to-day transactions activities. Also, several banks in the nation have resulted to merge with other banks such as SABB and Al-AWWAL merger in a move to expand their customer base and influence in the provision of services to more customers (Parameswar, Dhir, & Dhir, 2017). In this case, it is vital to study the importance of mergers and digitization and their competitive advantage to the provision of services to customers and the growth of the nation's economy aligned with achieving the Saudi’s vision 2030 of a thriving economy.

The purpose of this study is to investigate the benefits of digitization in banking and its competitive advantages in the provision of improved services and products to its customers. It will also talk about the impacts of the upcoming merger between Riyadh Bank and NCB bank in Saudi Arabia and its competitive advantages and influence in the economic growth of the Kingdom. The study will also examine the challenges emerging in the process of implementing digitization in the banking systems in the Kingdom. In this case, varied factors will be explored that facilitate digitization in the banking systems in Saudi Arabia to come up with the better provision of convenient and quality services to the customers. Approaches in the process of transforming the country with the implementation of e-government must be ensured. The study will explore the way of digitization and mergers in the banking sectors, which are important in increasing the competitive advantage of an organization in the delivery and access of services to its customers. In addition, available data and information will be used in the project to guide in highlighting the factors that enable or hinder the implementation of digitization and mergers in the banking sector in the Saudi Arabia.

To realize the main objective of the study, the following questions will be addressed.

· What is the approach of the Saudi Arabian citizens concerning the implementation of digital banking?

· Does digitization improve the competitive advantage of a banking institution in the competitive market?

· Does digitization improve service delivery to customers in Saudi Arabia?

· Does digital banking improve and aid in the growth of the economy of Saudi Arabia, if yes, how? If no, why?

· What are the implications of the merger between Riyadh and NCB to the economy of Saudi Arabia?

I.1. Adoption of digital banking

Digital banking is used in a form where banking services are delivered using the internet. Contemporary banking has embraced the use of digital banking to catch up with the fast moving trends in the world (Lipton, Shrier & Pentland, 2016). JP Morgan is one commercial bank that is also identified with the adoption of digital banking like other different banks which are beginning to adopt digital banking as their means of operation. Locally, RiYAD is a Saudi bank which is also known for digitization of its banking services. The general function of commercial banks is to help in provision of financial services to the members of the public. The commercial banks have different roles, which include; accepting different types of deposits, advancing loans to different people, and providing consultancy services (Roy et al., 2017). In digital banking, the functions of commercial banks are being digitized in a manner that introduces internet and reduces the paperwork that had been identified with the banking.

Adoption of digital banking considers security of banking. Financial security and the general security of the banking processes is always considered when looking at the adoption of digital banking. Particularly, protection against fraud and other fraudulent activities is considered in digitization of banking system. For instance, RIYAD bank has collaborated with an international company to implement a system against Fraud which is First data system, it has proven that it’s a strong system enabling Fraud agents to create rules to protect their clients from getting fraud from certain merchants. Consideration of whether the new system is a proof against fraud and all the risks involved is important in adopting digital banking. 21st century is a century identified with technological changes that include high penetration of mobile and internet technologies. Therefore, different commercial banks are using the penetration and increase in technologies to provide services to their customers, this works by tilting dynamics in favor of commercial banks.

Today, customers have different considerations before making a decision to open a banking account with a commercial bank. Customers have different preferences when it comes to banking and this works by influencing their ultimate choice of commercial banks. Banks also have the responsibility of satisfying their clientele. Competition from other banking and non-banking financial institutions also prompts commercial banks to come up with different issues and implement the technologies. In banks such as Riyad and NCB Long queues in the banking halls are indications of slow uptake and use of technologies in banking. Therefore, commercial banks are coming up with systems where customers can access services and make inquiries at the click on their mobile phones and laptops. The use of digital banking by commercial banks is from the need to change the phase of cash deposits, money transfers, accessing loans, and accessing the bank statements. It is also implemented to ensure that there is efficiency in the production process.

To adopt digital banking, banks are focusing on the needs of their customers. Satisfaction of the customers is a factor of meeting the requirements of the customers. Increasing efficiency in the banking system is an important process that should be ensured always. Globalization is also a factor that has necessitated the use of digital banking in the modern era. Globalization has affected the face of doing business which has forced commercial banks to change the phase of doing banking to catch up with the changes in technology. Digital banking occurs in the framework of changing all the traditional banking services to online services. Traditionally, individuals have attempted to present themselves physically at the banks and branches to conduct their businesses. However, digitization changes different activities and phases while at the same time ensuring that the processes are conducted in a proper manner.

1.1The Riyad Bank

The Technology sector has changed rapidly over the recent years. The newest technologies have changed the delivery of products and services and has improved the E-Banking. For instance, The E-commerce has made a great impact and role in the development of business and digital services. Its well acknowledged that RIYD Bank is one of the largest Saudi Banks with 51% shares of Saudi Government and as many other commercial Banks its supervised by SAMA (Saudi Arabian Monetary authority). The bank has made easier and accessible digital solutions for all their clients, also the bank works on a daily basis to improve its customer services, online applications , digital banking channels to compete with the other Saudi Banks. According to (khan , 2016) the bank has been improving its technology by providing Riyadh Online , Riyadh mobile for corporate clients , Riyad App for Smart watches and RIYAD foreign exchange ATM. The Banks uses the latest technologies in banking in order to provide the best quality services to their customers.

Riyadh Bank is well known of the ease and fast of use of digital online services, banking self services, Applicable ATM”s , mobile applications . In addition, RIYAD Bank was able to create solutions for security and financial Markets by using the latest technologies with the highest level of protection, providing customers the maximum security and confidentiality. Also, RIYAD Bank has been awarded with the ISO certification for their excellent digital services including Riyadh mobile, Riyadh online which came as the result of the implementation of successful information security management systems. The certification empowered Riyadh Bank security posture, assessing and the evaluation of all the risks of information security impacting Riyadh Online such as various threats and cyber attacks

The digitization of many services has made RIYAD bank as the most innovative bank, the bank started the launch of RIYAD Mobile portal to all clients enabling them to access accounts through smartphones. Recently, the digital banking team made changes to the application which included opening account through online, new user registration, rest password , apple pay services , Download Account Statement , Re-issue Credit Card and many useful services that made users experience the best service and allows them to access many features and banking services without vising the branch , hence easier and more convenient for all clients .

One of the important segments of RIYAD Bank is the Golden and private banking clients , and the aim to provide the best services for them to meet their needs and exceed expectations . The Bank offers a wide rage of premium services and solutions which includes the 24/7 access to the personalized Riyadh online, a personalized phone number for 24/7 inside and outside the kingdom. access to the VIP lounges. In addition, there are special golden service centers to provide the exclusive services for diamond clients.

1.2The NCB Bank

The NCB is considered one of the largest Saudi bank, it’s well known by its innovation and growth and development. Also, the bank is a trusted partner among many successful Saudi banks. Recently, the bank aimed at achieving the aspirations and the Saudi vision 2030 goals of being the most profitable, highest revenues, and most importantly the number one best digital bank, also achieve the excellence in customer service .The Bank has made huge technological efforts in E-banking, mobile banking and has been proven to enhance performance, customers have increased and the operations of the bank have been effected positively.

The bank has recorded many key achievements of being the highest income, best performance on two consecutive years. On digital services, the bank maintained its reputation of installing the latest technologies in all its online services and branches. Two major areas that was focused by the banks which is personal banking, business banking to support customers, corporate clients , in the tablet , I phone , and self services ATM’s for example , services include ALAHLI Online, Al-AHLI Mobile , Apple pay , push notification , Al-AHLI phone banking. As a result, the bank witnessed a huge increase in the number of customers, service delivery has been faster and easier for clients, an increase in the number of clients with the younger generation.

1.3 Jp Morgan

Chase and Co is one of the largest banks in the United states , the bank provides financial services and digital solutions to world wide customers , its ranked as the sixth largest multinational bank. Its also known that Jp Morgan has a local presence in Saudi Arabia , which entails the importance of Saudi Arabia as a large market in the Gulf region , hence an opportunity for growth to the Jp Morgan . The bank has an operating licenses in Saudi Arabia which is regulated by SAMA (Saudi Arabian Monetary Agency) and a securities license by the Capital Market Authority. The presence of Jp Morgan in Saudi provides a great chance of investment. expansion of capabilities in order to serve a wider segment of clients through out the country.

The Bank provides wide rang of digital solutions and expertise in the most essential services and products such as Corporate and investment banking , trade finance , treasury services . The bank was able to maintain its platform by integrating the digital platforms , enabling clients in managing receivables and payments from one secure portal . One of the most important features to clients that enhanced their customer experience is the management of treasury activities in the most easiest way, the clients also witnessed an increase of the speed of doing online transactions. The digital platform include , Chase Connect , J.P Morgan Access , Corporate Quick pay , Corporate Quick collect. The bank was able to capture the customers interests and needs to enhance their customer experience with the Banks. For example, the service of Corporate quick collect enables clients to do a one time payment through email , hence enhancing customer experience .

I.2. Different practices of digital banking globally.

Globally, banks work by extending value across the customer journey. JP Morgan has implemented different banking practices which can also be identified with the RiYAD bank in Saudi Arabia. Most individual clients work with banks as a means to an end. Most customers access services from commercial banks with the intention of securing their retirements, buying different homes, and growing their businesses. Different commercial banks like the Commonwealth Bank of Australia have used the practice of extending values to participate in helping their clients to buy homes. In this respect, commercial banks come up with augmented applications, which their customers can use to identify their values and improve their customer practices. There are different applications, which work by providing mortgage calculators and searching different properties for their customers. Banks that have significant market share in the financial market always use this practice to ensure that it works and achieves its ultimate objective.

RIYAD Bank is among the banks that practice the monetization of their data. Data monetization is a digital banking strategy that uses the internal data in an effective manner. Monetization helps in creating new offerings and promoting efficiency in the operations of the banks. Monetization takes into account the demographic details, locations of the customers, preferences and lifestyles of the customers. RIYAD bank also issues credit cards that have access to data of the consumers and the merchants, which are always sold to retailers. Banks always use this strategy when it has the requisite information and has this advantage compared to the competitors of the bank. Banks always remake their ecosystems in the world.

Banks also use the practice of turning to infrastructure sourcing factory. Many banks are focusing on the creation of value by leveraging the back-end assets, which work by providing the requisite products and services to banks, which are smaller. The main reason for using this practice is that most of the nontraditional banks, which are small, lack the requisite infrastructure, banking products, and the requisite capital assets. Therefore, large financial institutions, which are able to address the challenges, step in to address the challenges, which are important in the digital banking. It also works by promoting the quality, which is desired in the production process. Banks that have bank-end capabilities, which other banks do not have, should always use this option.

Commercial Banks can also practice digital banking by becoming digital attackers. Banks like JP Morgan has employed fraud analysts within its systems to keep fraud in Check. Commercial banks can enter new markets and penetrate if they engage in the digital channels. Banks are able to enter new markets and invest in the markets. An example of digital attacker is ING direct. ING attracted more than 20 million clients in 9 different countries. Banks, which would like to enter new markets, should always consider employing this strategy. Therefore, these banks will invest in the physical infrastructure and the investment has the potential of making the business expensive. An approach yields for the banks given its intensive nature in terms of capital and other resources. The practice of being a digital attacker is important when the business intends to explore newer markets.

Banks make decisions based on the best practice, which is bound to yield for them and attract more customers. Banks are businesses, which aim to make profits from their operations. Profit making needs prompt them to work towards developing a strong system and efficient system. For instance, RIYAD bank consider several factors, which include the nature of the customers and the economic realities to roll out the digital banking practices. It is a practice , which banks are employing to come up with the best alternative. However, strategies perform differently depending on the country and the legal framework of the country. Commercial banks, therefore, function in a manner, which attracts other customers.

Digitization presents several advantages to the commercial banks and to the customers. To customers, there is an increased convenience of doing business. In the case of RiYAD , NCB and JPMorgan the customers can make deposits from any point; customers can also withdraw from their bank accounts and request loans from any point. Traditionally, it would take a longer period for the customers to request loans and get bank statements from the banks. However, digitization has ensured that statements and loans can be accessed after a short period. Today, it takes minutes to get services from banks as opposed to hours in the banking halls and days of waiting for the approval of the loans after a longer period. There are better quality of services and products that are being offered by the banks and the digitization of banking.

Digitization in RIYAD and JPMorgan banks has also reduced paperwork that has been identified with traditional banking systems. It increases the E-transactions. E-transactions are an important aspect in the modern technology and globalization (Roy et al., 2017). Reduction of paperwork is an important and essential process in banking as it increases efficiency in the operations. Bankers, therefore, prefer digitization, since they have easy access to information as opposed to the traditional paper system where access to information was always difficult and hard. Both banks and clients enjoy the benefits that are accrued due to the use of e-transactions and reduced paperwork. Furthermore, customers and banks can use the contemporary banking to enable them to operate in the face of increased globalization and increased technologies.

Communications between banks and clients are also enhanced when there is digitization in the company. Digitization with less paperwork increases the speed of communications and efficiency of communications. The service providers are able to inform the customers of their needs while at the same time the customers are able to make inquiries on different issues. The speed of the exchange of meaning between the commercial banks and the customers increases in with the digitization of the services in banking sectors. Banks such as RIYAD and NCB that have engaged in digitization are enjoying the advantages obtained because of operating their businesses in digital and online.

Digitization of banking raises the security issues due to cyber-attacks. Digitization is prone to hacking and fraud. Unless risk of fraud is reduced, the security threat of digitization is on the rise. Attackers always attempt to steal and gain unauthorized access to banking information. The net result is withdrawals from the bank accounts of individuals and transfers from their account. In different cases, it has led to diversions of money and funds, which has led to great losses to different companies. Information leaks also leads to breach of confidentiality and privacy is also interfered with in the process. Therefore, digitization of banking is a process, which must be conducted while ensuring that the bank institute measures against fraud and work towards protection of their data. Different individuals whose intention is to commit crimes conduct Cyber-attacks and hacking.

Another challenge of digitization of banking is the poor access in areas, which do not have access. Digitization requires high online presence. Proper network connection and available gadgets are important in the promotion and success of the digitalized banking. Digitized functions of the banks cannot cascade down to the poorly accessible areas. Penetration and connectivity of the internet is important as it increases the online presence of a banking system. Therefore, the commercial banks must take charge of the security while at the same time looking at the accessibility of the areas. Different banks across the world are emphasizing on the use of digitized banking system to work towards building an efficient and effective banking system. There are other challenges, which include attainment of app perfection, technology upgrades with increase in technologies, increase in cybercrimes, spearheading with innovation, sustainability of the technologies employed, and delivery of quality works with faster speed. Clients also look at various factors, which determine the direction of the company and the changes that are ensured by the commercial banks.

Digitization of banking is the process by which commercial banks starts offering their banking services through the internet. In other words, it is a process whereby the traditional banking process is replaced by the modern technologies and the use of internets in the banking sector. Commercial banks are offering different banking services including credit cards, personal finance , lease finance , Takaful and worldwide digital services .Digitization remains an important process in ensuring that important processes are followed within a very short time. A process enhances accessibility to the customers. As an important process in banking, digitization has several benefits, which include; increasing efficiency, cost savings to the customers, and enhancing the economic growth and development in the country where the digital banking process is ensured. The benefit to the bank is such that it increases the accuracy and minimizes losses that would have been incurred in the banking process. Digitization of banking process is also an important process, which works by ensuring that the paperwork is reduced considerably in the process. Paperwork has always been confusing to the customers and has brought confusion to the banks in cases where details of the customers have been lost. Therefore, the digitization process has had several benefits to the commercial banks and to the customers. However, there have also been challenges associated with the digitization of banking. One of the main challenges is the exposure to the cyber-attacks and hacking. Cyber-attacks and hacking are also risky to different individuals who have saved money in different commercial banks. It is a process, which makes the operations in the commercial banks difficult. Ideally, the use of digitized banking system requires individuals to have knowledge in technology and to work towards achieving a high penetration of technology. Therefore, banks and commercial entities might spend more resources in the roll out of the digitized system. To conclude, digitization process is a process, which changes the banking and the means of offering the banking services to the customers. It changes the way business is done. However, the use of digitized banking system increases accuracy and precision in the banking system. Globally, banks are embracing the digitization of banking as the technologies are changing and globalization is being witnessed. Several banks are digitizing their operations as a means of competition in the banking industry. Competition in the world today is taking a different form with most of the companies competing on the roll out of the digitized system, which is also critical in ensuring that the business functions according to the improvement of technologies.

I.1. Role of the ministry of Information Technology

Saudi Arabia has a blueprint, which it intends to achieve by the year 2030. Part of pillars of vision 2030 in Saudi Arabia include; diversification of economy, development of service sectors, and reinforcing economic, as well as, investment activities. Ministry of information technology is at the center of realization of the vision 2030. Council of Economic and Development Affairs is charged with the objective of ensuring that vision 2030 is realized. To achieve the vision 2030, the government quality of life program, financial sector development program, housing programs, fiscal balance program, privatization program, and national industrial development and logistics among other programs. Therefore, achieving vision 2030 is a multidisciplinary approach that requires inputs of different ministries including the ministry of information technology.

The Ministry of information technology in Saudi Arabia state department is in charge of communications and information technology. The main transformation plan of this ministry is to enable people, different businesses, and the government of Saudi Arabia to exploit the opportunities in this digital era. Ministry of Information Technology uses four main approaches in achieving this objective; building, enabling, transforming, and innovating in the areas of information technology. Therefore, ministry of information technology is an important player in building a framework for development. It is responsible for creating an environment for the businesses to thrive using modern technology and coming up with different initiatives that work by creation of digital culture and utilization of the knowledge.

Ministry of ICT has worked by raising awareness in the entire Saudi Community on the modern technologies (Arabia, 2016). It is an important process, which ensures that individuals become aware of the use and utilization of the modern technologies. The state department of ICT has also been responsible for dissemination of information to the masses (Arabia, 2016). Therefore, the ministry of ICT is an integral player in the digitization in the banking and use of technology in changing the business face in Saudi Arabia. Therefore, the role of ministry of ICT can be summarized as building a digital culture in Saudi Arabia, creating an environment for information computer technology, leading the way in transformation and innovation of technologies.

Security of investments and transactions are critically important in digital banking. Therefore, authenticity of the investments must be established. E-commerce transaction can be verified by using different methods, which include authorization, card security codes, and address verification service. The processes are important in fraud prevention and in tracking changes. Other methods that can be used include; velocity limits and controls and maintaining negative files.

I.2. digital banking Accessibility

The internet connection in Saudi Arabia and internet penetration stands at 73.8%. It is a high internet connectivity given the population of Saudi Arabia standing at 32.3 million people (Arabia, 2016). However, Saudi Arabia still imposes restrictions on use of internet, which then affects the digital banking accessibility. Internet is available and is offered by providers through both broadband and telephony services. Therefore, it affects the digital banking in Saudi Arabia. Different banks are using different systems to come up with proper platforms and reach their customers in a proper manner.

Accessibility of digital banking is a factor of penetration of internet and the ability of the customers to use the application. Saudi Arabia has a high internet penetration. Besides, most of individuals in Saudi Arabia have access to Smartphone and laptops. Therefore, they can access the application from their Smartphone and laptop.

I.3. Models used

Banks like RiYAD, NCB uses the model of digital banking known as the marketplace model. The marketplace model perceives banking as a service. An example of this model is in the application of Starling bank, which only offers current account, therefore offering services through the current accounts. In the marketplace model, banks enter into agreements with third party customers. The marketplace model uses different approaches in arriving at the same result. In Saudi Arabia, an approach is also being applied by banks. Ideally, marketplace consists of buyers, sellers and the goods. Buyers and sellers act rationally. The decisions of the buyers and sellers depend on the availability of goods. Marketplace, therefore, defines the operations and the roll out of digital banking in Saudi Arabia and in the rest parts of the world.

Platform based models of businesses are also applied in the rollout of the digital banking systems. Platform helps in the creation of value by enhancing exchanges between two or more business entities. Platforms work by creating large and scalable networks. The networks can be accessed on demand. The two players in the platform models are consumers and producers. Consequently, a connectivity exists between the players in the business channel. Platforms work by creating markets and it permit users to interact and work towards transacting businesses. It creates values by engaging in the trade between different individuals. Therefore, platform is a model which has been applied and which can explain the operations in digitized banking.

I.4.The process

Digital banking process has a potential of increasing customer base. The process involves automation and web-based services. In the process, banking services are done by the use of internet. The process presents a gradual shift from the conventional banking systems. One of the characteristic of this process is the fact that it involves cross-institutional service composition, which is meant to deliver banking services and products. The main objective of this process is to enable users to access their financial data through desktop, mobile services and use of automated teller machines as opposed to accessing their services through long queues in the banking halls. Ideally, a digital banking is a virtual banking system where there is use and application of online banking and other services beyond the online banking. One of the ways of digital banking is provision of end-to-end platforms whereby on one end the customers are able to see while the back end is accessible to the bankers (Al Jabri, 2015). There are also administrators who are at the middle and work by controlling the nodes. Consequently, digital banking has the ability to facilitate all the available functional levels of banking using all the available service delivery platforms. The digital benefits of the digitization of banking out weigh the demerits of the systems.

Commercial banks that use digital banking gain competitive advantage over traditional organizations. Competitiveness of a bank owes to the fact that it is able to adjust to the needs of customers. The world is facing changes in technology, which prompts commercial banks to adjust to the changes in technology. Individuals prefer banks with digitized systems such as RIYAD Bank; the digitized systems ensure efficiency and effectiveness in the operations (Youssef et al., 2017). There is competition in banking industry owing to the springing up of several commercial banks and non-bank financial institutions across the globe. Furthermore, some banks are beginning to penetrate newer international markets. Therefore, the competition of commercial banks is taken to the digitization and targeting of new markets with modern technologies. The competition is working in a manner that commercial banks are able to offer different services to their clients. Therefore, satisfying the clients are the most important objectives of the commercial banks. Different banks are coming up with applications, which enable individuals to have ease of accessing services from their banks and accessing information, which are critical for survival of commercial banks. Besides, commercial banks are working towards ensuring that there is relationship marketing which attracts more customers and ensure that there is competitive advantage in the banking sector.

Individually, banks derive economic benefits from the digitization. The nation also experiences economic growth, which benefits the country. Collectively, commercial banks will open up the services to the members of the public and businesses. Ease of access to loans, cash deposits, and savings increases agility and investments in a country. Individuals will invest in different products and projects and open up the economy. The net impact is a reduction in the rate of unemployment, and a rise in the gross domestic product. Nations whose banks have digitized their operations have a potential of growth as digitized banking is positively correlated to penetration of banking services including opening up of bank accounts. Consequently, the economies of these countries will be opened up. Economies depend on banking sectors since they are the major financiers of different projects in an economy. Furthermore, commercial banks are supported and regulated by the central banks using the principles of lender of last resort and the principle of too big to fail. Economically, when banks open up their operations then there is a possibility of an increase in the operations of the bank and improvement in the economic processes in the country (Ashford et al., 2019). Saudi Arabia stands to benefit from economic developments faced by a country. As banks expand their customer base, they also increase their performance in the industry. When different banks increase their potentials then the economic growth of the entire nation will be realized.

Customers have improved services and offerings, which is available in 24 hours and 7 days. Customers are also able to obtain smart banking services where there are all the transactions, which can be accessed from the banks and obtained in the process (Mullan, Bradley & Loane, 2016). The services which can be obtained include; mortgage services, expenditure analyses, and foreign currency conversions among other services. Banking system is able to meet all the needs of the customers and are also able to satisfy the needs of the customers at lower charges compared to the traditional banking.

Customer Understanding of digital banking

III.1. Impact on digital banking

Modern customers understand the concept of digital banking and they use the digital banking as a process that intends to increase their efficiency and effectiveness in their access to banking services. The understanding of the digital banking is an important process that enables the transactions to occur. Contemporary customers also use the technology and are aware of the changes in technologies. Their perceptions of technologies are also reflected in the advantages that are derived from the use of technologies. One of the technologies that are employed is the Smart applications where different functions are integrated into the same application is an important step towards developing a working digital banking. Customers understand the concept of digital banking from the end of efficiency. In fact, digital banking is a means to an end according to customers. Ideally, it has reengineered the phase of banking across the globe. The restructuring from queues at the banking halls to clicks on the mobile application is a testament to the changing fortunes. Ordinarily, it would take time to access services a reality that has since been overtaken events.

III.2. customer Participation ( needs 3 pages )

The upcoming Merger of NCB and RiYAD banks made the two investment banks to form a monolithic bank with high performance portfolio in Saudi Arabia. Customers have been participating in every step of the development. Customers are the center of operations in the banking system, banks strive to satisfy their customers and appease them. Therefore, customer participation is an important factor that is ensured in the banking chain. Customer participation is at the center of success of the applications and systems. One of the ways that customers participate in the processes is signing up to the applications and being active in the applications. Sign up either connects customers and link the customers to their accounts. ATM cards can also be linked to the applications such that customers are able to access their accounts and most important statements (Al-Malkawi, Mansumitrchai& Al-Habib, 2016).

II.3. improving the Service provision

The use of digital banking concentrates several banking services on the same platform. In Saudi Arabia, two commercial banks merged to form one big bank which has its operations extended. RiYAD and NCB merged to form RiYAD NCB which is an important banker in Saudi Arabia. Therefore, customer base was larger. Therefore, accessibility to the services is easier and simple which makes the services to be accessible to customers in a simple manner. The time that was taken to provide the services to the customers has reduced considerably. Initially, it would take days and weeks for the loans and bank statements to be processed. However, with the digitization of banking only takes hours and minutes for the approval of banking services to be ensured. Therefore, digital banking has ensured that there is efficiency in provision of services to the customers. Therefore, the digitization of banking and the conversion of the banking services to digital services have worked by transforming the operations to an efficient system.

II.3. Corporation between the banking sector and the government

Government is a central player in regulating the activities of the banks. Banks control commercial banks by looking at their activities with the objective of controlling inflation and ensuring that the banks adhere to the set standards (Chawla & Joshi, 2018). Government through Federal Reserve and ministry of treasury is an important player in the operations of the commercial banks. The government also checks the minimum cash reserves as well as minimum cash deposits in the commercial banks, which are important tools in the banks. In the roll out of digital programs, the government is also an important player in ensuring that the technologies reach the different people and are important in the process of ensuring that the government is an important player in the penetration of the internet. Furthermore, the government through various state departments also promotes digital literacy. Therefore, the cooperation between the government and the banking sector is an important consideration given the fact that the commercial banks are offering banking services. In Saudi Arabia, the government cooperates with different ministries with the objective of ensuring that vision 2030 is realized and at the same time ensuring that, various aspects of the long-term objectives are achieved. The government of Saudi Arabia focuses on investments and gives money to individuals through the available commercial banks (Baabdullah et al., 2017). Therefore, there is a close cooperation between the government of Saudi Arabia and banking sector in Saudi Arabia. Saudi’s banking sector and changes in technology is pegged on the cooperation with the government.

Saudi Arabia under the ministry of information technology has rolled out plans that are aimed at enhancing connectivity to the internet. Furthermore, there is vision 2030, which the government of Saudi Arabia intends to achieve spells out different plans, which include economic recovery and investments. Ministry of information technology plays an important role in the digitization of the banking in Saudi Arabia. Besides, the government of Saudi Arabia also controls banking and investment through the central banks where it acts as the lender of last resort and follows the principle of too big to fail. However, the digitization of banking in Saudi Arabia is opening up the economy of Saudi Arabia.

Benefits of E – transactions:

It is a fact that technology has changed the way the companies are doing business and it mold the way banks are operating. It is due to the presence of technology that we do not need to carry cash anymore. Now, due to digitalization the way of doing business changed and Saudi Arabia is one of those countries that established a centralized system through which companies and individuals easily send and receive money. There are unlimited benefits of online payment. 

MADA service is the most common digital payment system that is followed by all companies for online payment. It is the first payment card in Saudi Arabia that made online payments possible. This system of online payments is used everywhere in the region whether it is a bank or other companies. There are two types of financial systems that are followed here one is ATM machines and the second one is the point of sale terminals. There are 29 million MADA cards which are distributed all over Saudi Arabia. It is a safe and convenient way of using money. These cards are embedded with smart chips. Hence the transactions are easily traceable. 

E-transactions concept refers to buying and selling goods and services through online media just like a computer or mobile phone. It’s held between individuals, businesses, households, government or other public & private entities. The status of E-transactions in Saudi Arabia executed through the ministry of finance which formulate plans of collecting payments such as revenues and delivering goods across all banking sectors. SADAD payment system was established by the Saudi monetary agency (SAMA). The service used to help citizens to pay government fees, providing an e-payment facility that raises productivity. It also provides E-mechanism to ensure invoices and e-purchasing service.

The secretary-general of the media and banking Talat Zaki Hafiz mentioned that the approval of SAMA’s strategy was to change the domain into a cashless public. Also, he highlighted the main objective of FSDP, Financial transactions Development Program was unable to raise electronic financial transactions from the previous year 2016 from 18 % to 28 % by 2020. He further said that establishing such a company would enable the national payment system to make it guarded and authentic services to gain sustainability by providing the infrastructure that insures value among payment systems with specific principles of FSDP, one of the Kingdom’s Vision 2030 programs.

RIYADH BANK 

Riyadh Online offers customers to conduct secure transactions and daily functions over the internet very easily. Riyadh bank gives a 24hours online access from anywhere very conveniently. If the customer is registered .He just has to log in to his account and have online access . Riyadh bank gives several online services just like accounts and card management, inquiry of transactions, Opening of account. Customers can pay bills. Also , customers can get their bank statements. Registered customers must be fully aware that they should use anti-virus software, log out when they exit and close the browser, securely safe and avoid sharing password with anyone. Riyadh shows a 3D secure channel through this customer can save his account when going out shopping.

Money Express is the best way to transfer money at a good exchange rate. Riyadh bank facilitates account opening .All individuals need to fill the application for opening a current account via the Riyadh bank website and verify personal information from the Asher system and then your ATM (MADA) will be delivered to your place. People can easily purchase with Riyadh wallet application. Riyadh gives you access to different Digital banking Channels. Clients can access it at any point around the world . There are various digital accesses such as Riyadh online, Riyadh Mobile Riyadh Line. Riyadh line gives access to information about your account details. Riyadh ATM have the benefits of receiving money at a very short distance, Riyadh Foreign Exchange ATM helps to withdraw Four Foreign Currencies such as US Dollar, Euro, British Sterling, and UAE Dirham using MADA cards. Riyadh Self Service, which saves a customer time while attending his banking needs. Riyadh application of Smart watches easily access Riyadh line; find the nearest ATM by using the Riyadh app (riyadbank.com, 2019).

Riyadh facilitates the services for customers via E-statements. Customers can receive their information directly to their email. In E-commerce, business industry companies collaborate with Riyadh bank to ensure their reputation worldwide. CCAvenue and Ifibeams collaborate with Riyadh to offer digital payments in E-commerce business. Riyadh has a wide range of networks up to 340 branches and employing more than 6000 employees. It has the highest employment rate of more than 90% among Saudi Organizations. Riyadh is a leading player in IPO advisory business and asset management. It declares to be the best funding investment organization (riyadbank.com, 2019).

NCB

NCB is one of the fully functional online banking systems in Saudi Arabia. The bank enables its clients to access their account information and various electronic transactions around the world by providing security measures. Account management facility which helps to access the banking accounts and cash management goods. Also , it Introduced a wide range of online transactions which include account to account fund transfer, local payments, and international payments via Swift and trade services. It gives Customized Solutions to access company authorization products, accounts, and workflow. We can reconcile the account and check the system activities. Clients can pay governmental fees KOI such as passport, traffic violations and much more (alahli.com, 2018).

NCB provides the best digital services which moreover include SELF SERVICE Kiosk. This works to give Mada Debit Card from NCB Renewal using the current card, Mada Debit Card from NCB issuance, Account statement can be Printed with the issuance of an instant prepaid card. You can easily avail of the Mada Debit Card in NCB while going on the main menu and click 'Card Renewal'. Enter your new pin and then confirm it. These services are available when you register on the NCB website via AlAhilMobile and click new user registration. Some of the online features services include Account balances , checkbook Request, obtain IBAN and send it to via SMS (alahli.com, 2019). 

Being a client of NCB enables you to easily transfer payments between local, international family or friends. Manage beneficiaries and Quick pay transfer. It follows SADAD, gives bill payments. Government dues, account management, refunds, Absher Activation. You can get Credit card NCB credit card, E-statement, cash advance, activate cards, cancel and reissue cards with giving SIMAH registration. E-statements or account statements are easily available, environmental friendly. NCB provides you the facility to ensure activation of the beneficiary by calling the free number. After adding beneficiary for transfer via AlAhliMobile and AlAhliOnline. The customer will receive a call from a voicemail of NCB directly on his given number and complete verification (alahli.com/, 2019).

 AlAhliMobile and AlAhliOnline can give you access to operate your account and banking transactions. The online application is rated on the top most used apps in Google. NCB is the largest bank of its assets in Saudi Arabia. Also, it initiate phone banking service. AlAhliMobile pushes notification access which receives all your financial details anytime; anywhere. NCB provides Apple Pay, where you can easily pay with a privately secure system. The Apple Pay access is through iPhone, Apple Watch, iPad, and Mac. Also , NCB MADA Card and credit card with Apple Pay which is a safer and easier way to pay (alahli.com, 2019).

JP Morgan

JP Morgan is the largest bank in the United States and the Sixth largest Bank in the World by total assets.JP Morgan facilitates its customers as much as they can. JP Morgan keeps their business in the top market level through internet interventions. In addition, Streamline business with cash management , electronic bill delivery with secure online payment options. Electronic Invoice presentation establishes to form a settlement solution that interlinked with core ERP, accounting, invoicing and payment systems of their customers (jpmorgan.com, 2019).

Electronic Statement Presentment is an effective way to deliver documents and electronic statements. It reduces cost and saves time and helps to view files online anywhere, anytime. These offers are for clients B2B and B2C.JP Morgan introduce E-Z Pay leading-edge technology service, it helps you to transact and do business, attract new customers and maximize profit. Payments are accepted and authenticities via this facility. The organization focused more on serving suppliers and collaborated with Amazon in supplying services. This supports remittance services. According to the NILSON report 30% of web transactions reported In Europe by Jp Morgan. JP Morgan is the first Merchant acquirer In US.JP Morgan challenges 10 biggest e-commerce and gig economy players (jpmorgan.com, 2017).

Barriers to E-transactions

In Saudi Arabia, the barriers to e-transactions are the lack of development of an online system form the government side. From a governmental perspective, such initiatives are not taken as technology progress that will help in developing this system. Thus, the lack of proper governmental support leads to many complications in e-transaction that are counted as barriers (Almousa, 2016). 

The Saudi government can contribute to improve internet business advertising; in any case, the legislature has not given a proper domain to assist the way toward building up the foundation of business. Also, the shortcoming of the postal conveyance framework is a significant obstacle throughout online business improvement. As a solution , the Saudi Postal which is an administration office, comes up short on an effective arrangement for conveying products and enterprises, making internet business a less feasible choice for buyers (Alotaibi, 2014).

Moreover, an unbound online installment foundation represents a gigantic hindrance to speeding up an e-business. Online installment extortion has been recorded as a strong method for executing e-business in Saudi Arabia. At long last, the nonattendance of web-based business law is a noteworthy explanation for the absence of web-based business improvement in Saudi Arabia. The need for lucidity in existing laws to ensure e-organizations in Saudi Arabia demoralizes universal interest in the region, constraining generally the development of online business (El-Sofany, 2012).

As per the service of monetary and arranging's report in Saudi Arabia for 2013, the evaluated population is 29,994,272 million with development rate 2.7%, and per capita a Gross domestic product of US$ 25,700 out of 2012 with development rate 6 %. The Gross domestic product demonstrates that Saudi buyers can spend cash to fulfill their needs and requests; hence , the utilization of e-administrations has not been completely used. This hole in the accessibility of assets and their utilization is principal because of the absence of government association in making administrations available to the population (Alghamdi, 2014). The Saudi Arabia Population has developed so quickly, nevertheless this expansion in the population isn't going with a comparable development in purchaser utilization of online business benefits in Saudi Arabia.

Although the retail business has been recently developing, huge universal retail marks have entered the Saudi market, the Saudi government contribution in guaranteeing monetary achievement has not arrived at the ideal desires. Because of the short effect of online business on Saudi financial development that has forestalled the administration from getting completely engaged with this endeavor (Al-Fakhri, 2008). One of the major explanations for the moderate development of the IT in Saudi Arabia is the postponement in setting up the IT foundation. This has influenced the procedure of improvement for web-based businesses. As expressed in the site of Service of business and industry, the service of business and industry named a panel to talk about the web-based business process. 

The absence of initiative by the Saudi government has along these lines counteracted the fruitful spread of online business crosswise over urban communities in Saudi Arabia. Even though clients are quickly getting mindful of the advantages that they can conceivably profit through using web-based business benefits, the shortcoming of the existing foundation keeps them from exploiting those administrations (Gamlo, 2011). The Saudi government needs to comprehend the utility of internet business administrations and the positive effect that they can have on improvement in the area. Furthermore, the administration ought to likewise put assets in improving supplemental administrations. For example, the postal help framework which is another obstacle that the online business industry faces in Saudi Arabia.

Data security is a gigantic concern for online clients as to individual data that is being prepared by the portal to execute the exchange. Most web clients buy their items without perusing the protection articulation or taking satisfactory careful steps.For example, possibly getting to verifying locales while participating in on the web exchanges. There are numerous approaches to secure the client's protection, for example, turning treats off or not answering to spammers. Also , the possibility that buyers embrace certain measures while taking part in online exercises, they can avoid the potential bargain of individual data that can result from spamming (Ibrahim Abunadi, 2018). Spamming is considered as one of the developing issue among other different security dangers.

Saudi Arabia is one of the most spammed nations as mentioned in the year of 2011, positioning at number Saudi Arabia is at a higher hazard than a few different countries with regards to PC security. This is an aftereffect of negligence of web utilization by purchasers and the absence of activities to instruct shoppers about safe rehearses when utilizing the web, particularly for monetary exchanges (M. B. Khan, 2015). In web-based businesses, clients process their installment through the portal utilizing the web. Since the clients in Saudi Arabia are utilizing on the web installment, their introduction to the online assaults is essentially expanded. 

E-government ventures are tremendous, expensive and long haul ventures that subsequently require an unmistakable methodology and vision. In this matter, it is significant for each administrative office or association to build up its very own vital arrangement that is lined up with the national ICT plan and its vision. Endeavors would then be collaborative toward a united e-government frameworks preparation in a particular time and outline going for the best administrations (Almousa, 2016)

The most genuine hindrance of the usage of e-government is the absence of cash. The monetary hindrances incorporate the accompanying of three recognized deterrents: constrained monetary spending on ICT, the significant expense of ICT and costly administrations of media communications. The absence of IT experts and required PC preparation courses is a significant issue. There is a crucial need for putting resources into preparation, also existing staff individuals since they have solid working environment information that will support them to coordinate the utilization of e-taxpayer driven organizations and applications. 

There is no doubt that innovation is the main thrust behind the Web-based business. In all cases , it is a similar innovation that disrupts the general flow of expanded movement in online business. An audit of market discoveries will uncover certain items as being essential on the internet while others are most certainly not. While cost might be a central point in this assurance, there are innovative hindrances that are similarly mindful regarding why certain things aren’t sold on the internet just as others do. These innovative hindrances fall into either equipment or programming (a couple might be in the two classifications) and are distinguished just like the accompanying. 

Bandwidth 

The transmission limit of an interchanges channel is a significant innovative obstruction for items that require a larger number of designs than printed information. Items with complicated structure subtleties are extraordinarily worth referencing. Gems, garments with carefully assembled works, enlivening things, and such a fall in this classification (Almousa, 2016). The broadband channel is a general innovation. On the off chance that this innovation can be moderately funneled into each home making association with the Web far more extravagant, closeout of items requiring illustrations will rise fundamentally.

Processor speed 

Processor speeds are expanding at an exponential rate. With this expansion in speed, client demands have increased. Almost all clients need a quicker processor; even the quickest PC appears to be delayed on occasion. A client attempting to purchase an item online wouldn't like to wait as a PC recovers an image of the item and presentations it on the screen (M. B. Khan, 2015). In a disconnected mode, clients couldn't care less if the framework is moderate since they are molded to that gradualness; they are not associated with a PC. Processor speed becomes important when clients need to see aggressive items all the while.

System security 

Security on the Web represents an uncommon hindrance. Overall , clients will not use the internet on the chance that it doesn't ensure them the proper security. Clients expect a higher level of security on the Web than they accomplish for other social media exchange.For example, the mobile phone. Such security includes insurance of client personality and protection of client's Visa data (M. B. Khan, 2015). An enormous number of studies show that buyers are not easy going about conveying charge card data over the Web. This dread isn't completely identified with the fiscal sum associated with an exchange as much with regards to the way that it puts the shoppers in danger of losing cash using charge card misrepresentation. Numerous Web channels are very open to deceitful tapping and altering.

System reliability 

Framework dependability is as significant as framework security. On the off chance that the Web is inaccessible because of equipment, programming, or transmission issues, on-line clearance of items will endure. Too many Net disappointments will at long last lead to client disappointment and may even bring about all-out withdrawal (El-Sofany, 2012). While experienced clients of the Net will endure incidental framework disappointments, amateur clients will pull back from the net if such framework disappointments happen during their prior "experimentation" stage. These amateur clients will scrutinize the believability of the framework.

Concluding the finding of benefits and barriers of E – transaction in a nutshell it is analyzed that although all the three selected are using e – transactions and also facilitating their customers but the main issue is related not only with the adequacy of these banks to adopt this new system but the government e – commerce structure is not maturely developed due to they have to face such problems. As it create hurdles for the banks who want to advance the e- services.

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