An Omnichannel Digital Banking Platform For Smart City Services: UAE Case Study

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The British University in Dubai (BUiD)
The main aim of the research is to examine the omnichannel digital banking platforms within the UAE and how banking sector in UAE is providing smart service for smart cities. Digital banking and financial technology are taking the world at the next level by storm and with constant advances in technology and developments in internet and mobile connectivity; the revolution of online banking is becoming a reality. The proposed study uses mixed research methods i.e. quantitative and qualitative, with key instruments being questionnaires, interviews, observation, and case design for data collection. Mixed research methods refer to the research approaches where the researcher collect and analyses the study data for quantitatively and qualitatively in the same study. This thesis addresses the proposed conceptual framework of the omnichannel banking that will fill the gap between the current digital banking services and customer need. Modelling and evaluating the omnichannel banking platform architecture design has been performed in chapter five, this chapter will further introduce simulation and automation software i.e. Arena, which will be used to demonstrate the facilities and capabilities of discrete event simulation tool (Arena Simulation 2019) by building the operational process of the omnichannel digital banking platform. Arena software is developed by Rockwell Automation, uses the SIMAN processor and simulation language on Microsoft Windows platforms. It provides an integrated environment for building simulation models for a wide variety of applications as well as provides enhancements in optimisation, animation, and modelling processes with big data. Through the analysis of the framework, the study highlighted the interoperation between system layers within the framework with diverse roles performed by a government department such as Abu Dhabi Globe Mark and Abu Dhabi Sandbox and others. This phenomenon of traditional banks being willing to work with and through FinTech companies has opened up an avenue through which the UAE government can unite its banking sector. The research proposed an alternative digital banking solution that delivers frictionless omnichannel banking experience and allows customers to enjoy a seamless, secure, smart lifestyle and personalised service across every touchpoint by smart device at any channel and anywhere in the UAE.
Application software., omnichannel., digital banking., United Arab Emirates (UAE)