With the end of the calendar year approaching, the entire world began counting and inventorying the profits of traditional companies and banks, as well as digital banks, which are the basis of our topic.
Digital or electronic banks are a modern version of the well-known traditional banks, which have become popular due to the great expansion and massive spread of e-commerce and buying and selling operations over the Internet in the recent period. Its aim is to facilitate the movement of sending and receiving money between individuals and merchants in a safe and fast manner, away from fraud or any illegal attacks.
Digital banks provide various services to their customers without the need to go to the bank branch. Experts in this field pointed out that digital banks were primarily created in order to facilitate the process of providing services to customers in an effective and easy way and make it easier for customers to complete their services at any time they wish.
In 1989 was the beginning of the spread of digital banks in America specifically, followed by the establishment of another digital bank in 2005, after which digital banks increased to reach hundreds of banks around the world, but only ten banks were classified as the most trustworthy and secure for customer use.
Today, digital banks have become one of the most important financial tools in the world because they mimic the rapid technological development in which we live, and because of the rising profits over the years and the ease of transferring money from bank accounts, as money is transferred from one bank account to another bank account in a very easy electronic form. Digital banks with unlimited transfers and without additions.
Because all digital banking transactions take place via the Internet, the spread of digital banks increased in France, Britain, and Germany after the huge rise in real estate prices. Digital banks are very environmentally friendly in providing services, and help in dispensing with buildings, office equipment, and other matters, and also help in Reducing the costs of financial and banking transactions in general, as the customer no longer needs to go to traditional banks in order to provide the currency required by the bank.
In 2021, the volume of operations carried out in the largest and most important digital banks exceeded $220 billion, with their shares subsequently rising by 40%, proving that they are one of the most important factors for investing in e-commerce.
Then came the leader of the Middle East economies, the Kingdom of Saudi Arabia, represented by our wise leadership, King Salman and his Crown Prince, the leader of the investment renaissance, announcing the start of establishing two digital banks (the Saudi Digital Bank and STC), after the tremendous leap in the field of transformation and digital renaissance that we experienced ourselves and that the Kingdom witnessed in the (Government) index. electronic) worldwide.
Then comes the question: Will 2026 be the year of officially dispensing with traditional banks and replacing them with digital banks? Or will it be a year that complements the expansion taking place in our time?
Especially after the British Treasury and the Bank of England announced today several steps to create a digital currency for the central bank, which not only is owned by many digital banks, it was also announced to create a new digital bank targeting individuals in Britain.
Likewise, Russia and Canada have not left the arena to others in the field of digital banks. Although they have owned a significant number of digital banks for more than 17 years, they are in the process of establishing a digital bank within the next few months.
We do not really know what the near future holds.. But what we know very well is that the country that keeps pace with the major countries of the world, defies all obstacles, and creates fertile opportunities for its sons and daughters.. does not care how much it is late?.. rather, it cares how much it has achieved?.. how much it has achieved?.. and how much it has achieved. Will you reach it in the near future? What we know is that this country has chosen to be a land of opportunities and keep pace with the future in all its glory.
What we know in our hearts is that the Kingdom, under its wise leadership in this exceptional era, has defied the impossible to reach the amount of opportunities it has placed before us today… so congratulations to the investors.