SAIB strives to develop strong relationships with its customers. Customers are one of the most important assets to the Bank and building strong relationships with them ensures the long-term growth and sustainability of the business. Accordingly, the Bank develops products and services in response to the needs of its customers within the context of the operating environment.
Product portfolio
GRI 102-2
Personal Banking
Accounts
Alasalah Current Account
Islamic Shariah-compliant current account for transactionalpurposes.
Salary Account
Islamic Shariah-compliant current account designed for individuals transferring their salary to SAIB
Murabaha Deposit
Islamic short-term investment product based on theconcept of Murabaha with tenors ranging between 1 month to 12 months and available in various currencies.
Time Deposits
Conventional banking product offered only at RegionalHead Office branches in Khobar, Jeddah, Jubail, andRiyadh. Tenors range between 1 and 12 months.
Customer programs
SAIB offers customers a high-class banking relationship and exclusive services tailored to meet their financial requirements in total privacy and luxuriouscomfort.
Silver Program
Gold Program
Platinum Program
Finance
Alasalah Personal Finance
Arzaq Murabaha Finance
An Islamic financing product that allows customers to buy goods owned by the Bank, such as rice and flour, at an agreed upon profit and repayment plan, to then sell or retain as they wish.
Shares Murabaha Finance
An Islamic financing product that allows customers to buy local shares owned by the Bank at an agreed upon profit and repayment plan to then sell or retain as they wish.
Car Murabaha Finance
An Islamic financing product that allows customers to buy a vehicle owned by the Bank at an agreed upon profit and repayment plan.
Retirees Personal Finance
A Shariah-compliant financing product aimed at retirees looking for personal financing.
Expatriates Personal Finance
A Shariah-compliant financing product aimed at expatriates looking for personal financing.
Refinance
An Islamic financing product for customers with an existing Murabaha finance at SAIB to repay their outstanding finances, and avail more financing as needed.
Loan Buy-out (Balance Transfer)
An Islamic financing product to finance salaried customers who have existing liabilities with other banks.
Alasalah Home Finance
Home Finance programs in cooperation with REDF
Madoom and Moyassar home finance Subsidised house finance product in cooperation with the Real Estate Development Fund (REDF) for eligible Saudi nationals.
Self-construction finance Financing product in collaboration with REDF to allow customers to get financing against their owned residential land to fund the construction of their home.
Unit under construction (off plan)A Murabaha-based home finance product offered in collaboration with REDF and the Ministry of Housing (MOH) to allow customers to buy property from the MOH’s approved development projects.
MOH ready house Financing product in collaboration with REDF to allow customers to purchase ready-built houses in projects developed by MOH under Murabaha principle.
Alasalah Murabaha Home Finance
Islamic home financing product in which the Bank purchases a property based on a customer’s request and then sells it to the customer, against a monthly payment plan and fixed profit rate
SAIB cards
Low Limit Cards
Travel Card
A multi-currency travel card that enables customers to pay in different currencies including SAR at the best exchange rates with zero exchange rate conversion.
100 currencies including SAR
Apple & mada pay services
Ability to apply the card through Online channels and Kiosks
“EasyShopping” Card
A SAR-only card that serves the budgetary requirements of customers to help them control their expenses.
mada Debit Cards
mada-enabled debit cards give customers greater access to their funds via the mada network (Saudi Payment Network) and Apple Pay, and greater security through the latest Chip-and-PIN technology.
Pre-paid Cards
“EasyPay” Payroll Card
“EasyPay” Payroll Card helps organizations to reduce their payroll administrative efforts and expenses while addressing the financial requirements of blue-collar workers.
“EasyPay” Household Card
“EasyPay” Household Card allows sponsors to process the payment of salaries and incentives to their household workers electronically.
Credit Cards
Shariah-compliant credit cards designed to meet the needs and lifestyles of SAIB’s customers.
E-Banking
Flexx Click Internet Banking
Internet banking service that allows for self-service.
Flexx Call Phone Banking
Phone banking service that allows for automated self-service and agent-assisted services.
Flexx Transfer
Instant money transfer to many countries via e-banking channels (online banking, SAIB ATMs, and phone banking).
SAIB Mobile apps
Flexx Touch Mobile App
SAIB’s free official banking application for smart devices that allows for
self-service.
Flexx Safe
App that issues authorization codes quickly and safely without the need for an Internet connection to facilitate customers accessing their account online and perform transactions.
Al-Huda App
An app that includes the Holy Qur’an and other Islamic apps.
EasyPay
App that allows customers to access their SAIB EasyPay account via their smart device.
Payments and Transfers
SADAD Service
Enables customers to pay bills electronically to service providers enrolled in the SADAD service.
SARIE Service
Enables customers to transfer funds in SAR between accounts opened in local banks securely.
SWIFT Service
Enables customers to transfer funds in foreign currencies to international bank accounts securely.
Corporate Banking and SME
Small and Medium Enterprises
Business Finance
SAIB offers comprehensive financing solutions for SMEs, including:
Working capital (short term)
Financing projects and contracts
(medium to long term)
Financing the expansion of activity
(long term)
Kafalah Program
Launched by the Saudi Industrial Development Fund (SIDF) and Saudi banks, the Kafalah Program aims to promote financing to SMEs in the Kingdom.
Secured Financing Program with ADF
Launched in cooperation with the Agricultural Development Fund (ADF), the program aims to provide various financing products and credit services from the ADF to achieve food security and sustainability of natural resources.
SAIB American Express Corporate Card
An American Express card designed to provide companies a range of solutions to streamline expense reconciliation, consolidate business expenses into a single payment platform, and increase visibility through MIS reporting.
Corporate
Working Capital Financing
SAIB offers customers the working capital financing required for investment in their current assets, including overdrafts, short-term loans, and letters of credit including re-financing by way of short-term loans.
Employee Loans and Accounts
For Saudi corporates enrolled in SAIB’s Corporate Internet Banking platform, the Bank offers the Employee Loan Program to Saudi corporates without any guarantee or recourse from the Saudi Company, and Employee Accounts to efficiently handle payroll credits to staff.
Shariah-Compliant Financing Products
Comprehensive Shariah-compliant Corporate Banking solutions for medium and large enterprises in the Kingdom, including:
Commodity Murabaha
Letters of Credit Murabaha
Murabaha Finance (Goods and Real Estate)
Contract Financing
Financing services offered for the duration of a contract, including bonding facilities, mobilization loans, discounting of invoices, direct payments to suppliers, Documentary Credits to finance import requirements,
and more.
Syndicated Loans
SAIB extends short, medium and long term financing to large corporates and projects jointly with other banks, export credit agencies and other financial institutions
Project Financing
Services for Saudi corporates ranging from term loans to bridge financing (against loans approved by SIDF), short-term financing of working capital, and hedging tools for interest rate and currency exposures.
Real Estate Development Financing
SAIB is a leading provider of financing to real estate sector in Saudi Arabia. It provides medium to long term financing to residential, commercial, hospitality, mixed use real estate development projects.
Investment Services
SAIB provides a comprehensive range of investment products and services in brokerage, investment banking, and custody through Alistithmar Capital.
Secured Financing Program with ADF
SAIB American Express Corporate Card
Cash Management
Flexx Business Corporate Banking
SAIB Flexx Business allows corporate customers to access their accounts and execute banking transactions online.
Payroll
SAIB’s electronic payroll service saves Corporate customers the hassle of opening accounts for employees and processing salary transfers by managing their payroll for them securely and accurately.
Cash Pick Up
A collection service that provides our corporate clients the highest level of security measures over clients cash-in-transit. It enables our clients to quickly deposit their cash into their current accounts to speed up trade turnover.
B2B
SAIB’s B2B integration solution facilitates corporate clients in conducting their banking transactions by connecting their accounting systems/Enterprise Resource Planning systems to SAIB’s backend system.
Escrow Accounts
A special account for the collection and disbursement of money where the customers can place restrictions on the release of funds unless specific conditions (in accordance with rules established by SAMA) are met.
Mobile Point of Sales
A Mobile Point of Sales (mPOS) device allows merchants to accept mada, Visa, MasterCard, and American Express bank cards for payment and is linked to their account with SAIB to settle the processed transactions quickly and safely.
Point of Sales
Point of Sales (POS) terminals allow merchants to accept approved electronic cards for payment and is linked to their retailer account with SAIB to settle the processed transactions quickly and safely.
Flexx Cash In Cash Deposit Card
A deposit-only card linked to a customer’s business account with SAIB that can be used to deposit cash conveniently and quickly via ATMs.
Flexx Pay
A host of services provided to businesses to provide their customers with a gateway of local and international options to pay with when shopping at their websites.
SAIB Business
A mobile application allowing corporate users to view and approve/execute their company transactions.
Corporate Multi-Currency card
A prepaid multi-currency card for the business sector to help manage their expenses and perform transactions in different currencies at best exchange rates with zero exchange rate conversion.
Payroll Prepaid Card – EasyPay
The solution covers payroll requirements of companies across all industries and helps organizations reduce their payroll administrative efforts and expenses while addressing the financial requirements of blue-collar workers.
Trade Finance Solutions
Trade Finance Services
Provides a wider range of traditional trade finance offerings to Saudi trading and contracting companies and provides means to accommodate their growing business of exports, imports and contracting activities.
International Trade Solutions
Allows corporate clients to have access to tailor-made and structured trade finance and supply chain solutions that provide additional value and enhanced efficiency in managing payables and receivables from global trading partners.
Marine Cargo Insurance
Wider coverage of marine cargo insurance policies in association with the leading insuring company to provide our clients with extra protection against shipping risks associated with importing and exporting goods.
GRI 102-2
Treasury and Investment Group
Liquidity Management
Solutions for customers to best optimise their liquidity based on their internal structures and business volumes.
Foreign Exchange
Tailor-made solutions to help clients manage their foreign exchange exposure.
Structured Products
Tailor-made hedging solutions that fit the client’s needs.
Branch network and access points
SAIB operates 52 branches across the Kingdom. As part of the Bank’s digital banking strategy that focus on maximizing convenience to its customers, the Bank is increasingly focused on expanding access to its products and services through digital channels such as internet and mobile banking, as well as self-service kiosks, ATMs, cash deposit machines (CDMs), and interactive teller machines (ITMs), thus reducing the reliance on manual transactions and branch visits.
Access points
2020
2019
2018
Branches
52
52
52
ATMs (multi-function)
52
52
51
ATMs (dispense)
312
341
361
Interactive Teller Machines
4
4
4
Cash Deposit Machines
12
12
63
POS terminals
9,895
9,375
9,307
*Includes exception item transactions
Special needs branch
SAIB is committed to supporting the needs of special needs customers. The Bank modified three of its branches with the necessary equipment required to serve them along with various modifications to facilities. All necessary procedures to provide all banking services and products have been incorporated, including dedicated parking bays close to the entrance, and making branch maps, print forms, and contracts available in Braille. The branches also have skilled employees who are versed in sign language to support and guide customers. Furthermore, the Bank’s website has been transformed to be accessible to the visually impaired and screen reader technology allows for colour contrast options and font magnification to be used.
Personal Banking
SAIB strives to build a relationship with its customers as their long-term financial partner by understanding them better so it can deliver a superior personal banking service. By tailoring its products with the customer in mind, the Bank makes banking simpler and more accessible to them and ensures their financial prosperity in the short and long term. The Bank assists them in their financial planning to build and protect their wealth, ensure that their expected future cash flow requirements can be met, and facilitate their financial and asset growth.
In 2020, SAIB continued its focus and efforts on digital banking and innovation. An independent department was formed under the shadow of the Personal Banking Group to achieve a qualitative leap in the digital field with the aim of making SAIB the leading bank in this area. Among the key priorities and objectives of this department is to focus on digital innovation, enriching the customer experience, raising digital sales and returns, and building young cadres and competencies with expertise and talent in digital banking. To achieve these objectives, the Bank has developed a strategy for digital banking and defined the various stages for it, and an appropriate organizational structure has been put in place.
During the year, the department’s activities were focused on building the infrastructure and improving the basic requirements of the digital banking strategy. Some of the most important achievements included:
Developing the digital banking strategy, setting priorities, and developing an implementation plan
Designing the organizational structure, designating, and bringing in competencies in the digital field and innovation
Designing the innovation laboratory and enriching the customer experience
Ensure the remainder of customers’ banking transactions that take place through customer service officials are transferred to digital channels, including:
Enabling customers to manage their credit card completely and easily through digital channels (suspending the card temporarily or permanently, activating the card, displaying the password, re-issuing the card, managing the credit limit of supplementary cards)
Enabling customers to proactively increase the credit limit of the credit card
Enabling customers to update their personal information without having to visit a branch
Providing many new services that will increase sales and digital returns and improve the user experience, including:
Improving and developing the online checking account opening service
o Launching the Apple Pay credit card service
o Enabling customers to apply for a credit card through digital channels
Furthermore, SAIB launched several innovative and value-added services for customers that will make the Bank one of the pioneers in the field of digital banking and innovation, including:
Being the first Saudi bank to launch a portal specialising in real estate, guaranteeing a unique electronic experience.
End to end digital application and processing of Personal Finance through mobile application, including digital signatures and electronic Promissory Notes.
Linking with the systems of the Ministry of Justice (Nafeh) to enable customers to submit an “order bond” electronically and reliably.
Customer base
The Bank acquired 53,811 new customers during the year under review, growing the personal banking customer base grew to 599,242.
E-channel penetration
Channel
2020 %
2019
%
2018
%
2017
%
2016
%
SMS alerts
58.88
64.72
99.00
98.00
98.25
“Flexx Call” phone banking services
57.24
55.86
56.00
51.00
45.96
“Flexx Click” internet banking services
81.08
79.49
68.00
61.02
39.45
Customer engagement
The Bank reaches out to its customers through various channels, with an increasing emphasis towards electronic channels.
Initiative type
2020
2019
2018
2017
2016
Marketing campaigns
257
165
153
45
25
Events
31
45
62
85
30
Press releases
15
44
54
54
40
Website unique visitors per month
230,616
222,552
215,906
179,432
132,122
Page views per month
945,157
1,318,118
1,002,738
732,875
571,313
Twitter followers
1,023,000
974,786
928,000
845,347
754,058
Facebook fans
1,262,126
1,281,011
1,298,437
1,317,206
1,278,533
Instagram followers
52,600
47,973
36,200
27,497
19,200
Product and service social media videos
37
46
62
30
–
Customer service
SAIB strives to deliver an outstanding experience to its customers. Through enhanced insights, the Bank can deliver enhanced customer service to achieve this objective. With an in-house specialised quality assurance and analytics team, the Bank extensively tests its quality assurance services and conducts customer surveys and analytics to better understand its customers and their satisfaction with the Bank’s services and enhance their service experience. Efforts during the year under review were focused on ramping up the Bank’s digitalization to ensure that customers could be served effectively during the COVID-19 pandemic and subsequent lockdowns.
Customer satisfaction
Criterion
2020 %
2019
%
2018
%
2017
%
2016
%
On Flexx Click/Flexx Touch banking services
85.68
87.84
82.81
86.51
89.74
Customer complaints
2020
2019
2018
2017
2016
Complaints registered
25,312
30,332
26,497
14,523
9,897
Complaints resolved within
five days (%)
95.29
95.43
96.53
99.03
98.06
Corporate Banking
Based out of three regional headquarters based in Riyadh, Jeddah, and Al-Khobar, SAIB’s Corporate Banking Group serves large corporates, mid-sized corporates, and the MSME sector. The Bank meets the needs of its clients through a wide range of technology-enabled products, as well as Islamic banking products. Furthermore, the Bank’s subsidiaries and associate companies provide clients with the following products and services:
Alistithmar Capital: Investment services
American Express (Saudi Arabia): Corporate cards
Amlak International: Real Estate financing
Saudi Orix: Leasing
Medgulf: Insurance
Customer base
Customer type
2020
2019
2018
2017
2016
Corporate banking
1,750
1,650
1,540
1,450
1,407
MSME
11,546
11,109
11,940*
15,936
13,704
*Reduction in MSME accounts from 2017 – 2018 due to accounts being abandoned.
Loyalty programs
The Banks continued its efforts to grow its loyalty programs, Aseel and WooW. The Aseel program onboarded 12 new partners, bringing the total number of Aseel Partners to 352.
For the WooW loyalty program, the Bank rewards loyalty members with points for their transactions. The points can then be redeemed for various gifts from the WooW e-catalogue. A key initiative was implemented in 2020 to enhance the efficiency and customer experience by enabling the redemption of e-gift vouchers. This boosted the quality of the digital experience, reduced the delivery time of vouchers compared to physical vouchers, reduced customer complaints regarding the delivery of vouchers, and improved the overall customer experience.
Marketing campaigns
Home finance
The Bank conducted a campaign to promote the launch of a first-of-its-kind service, a home finance application via SAIB’s mobile app. The campaign was conducted through SAIB’s digital channels and highlighted the uniqueness of the experience within the Saudi banking sector and the convenience of applying wherever you are, whenever you want. Actual customer experiences were video recorded and posted on the Bank’s social media channels to validate the benefits of the service.
COVID-19 awareness
The Bank conducted a Coronavirus campaign focused on sharing tips related to financial, general health, and emotional awareness posted on a weekly basis. The hashtags (كن واعيا، وعيك يطمنك، وعيك يميزك) were used to tag posts, videos, and infographics published on the Bank’s social media channels, as well as internally to employees via internal announcements, screensavers, and digital screens.
COVID-19 E-Banking
The Bank shared a series of educational videos on its social media channels under the hashtag (وأنت بمكانك), explaining how customers could use the Bank’s services via the mobile app or website, thereby eliminating the need to visit their local branches.
COVID-19 business continuity
The Bank shared a video on its social media channels highlighting its digitalization initiatives during the pandemic, delivering the message of the Bank’s continuity of work and the provision of products and services to customers.
Nafith
The Bank promoted its collaboration with the Ministry of Justice to enable the issuance of online finance requests via the Nafith platform.
#خليها_علينا
The Bank ran an initiative to reward select customer segments by “paying” for their coffee and cinema tickets when they made a transaction using a SAIB card. The campaign was launched to raise brand awareness and engagement with customers.
