1.1 Background

[key points]

Fourth industrial revolution is arrived fintechUAE Government try to be in the race and to not be left behind by issuing regulatory and laws. As smart Dubai launched phase one of Dubai paperless strategy.
[Key point] the world becomes even more digital, capitalizing on the omnichannel opportunity could be the difference between those banks that flourish in the coming years and those that can no longer compete.
The concept of banking is changing. As customers become increasingly comfortable with technology, they are interacting with banks in multiple ways. Unlike customers in days gone by, these enlightened and empowered consumers will not accept “cookie-cutt. Having a solid multichannel infrastructure and providing an omnichannel experience allows customers to enjoy seamless, personalized service across every touch point. For banks, the time is now to take advantage.
1.2 Context

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Banks now need to borrow a page from industries that greatly value customer experience. Traditionally banks spend most of their efforts on transaction execution, a smaller part of the whole journey of 4.0 industrial revolution.

[key point]

Digital banking and mobile banking are mainstream, yet research shows that not all is well from the consumer perspective and less expect from their banks.

[key point]

Globally and locallythe most often mentioned expectations that are known since quite a few years now are digital and mobile banking possibilities, essentially where stage one of most digital transformation in banking has happened. Yet, despite that clear demand and these investments, we are certainly not there yet. An increasing number of reports indicates that digitization and digital transformation efforts are not leading to desired outcomes, leaving retail/consumer bank customers dissatisfied and making them need banks’ help with the offered mobile and digital solutions. At the same time The appetite for omni-channel banking keeps growing.

[key point]

One of many transformational challenges for banks is the increase of both usage of FinTech products and consumer trust regarding the providers of such FinTech solutions and services. No wonder that FinTech is among the hottest ‘terms’ in banking but also in insurance and financial services overall.

1.3 Thesis Scope

[key points]

This thesis investigate and explore the current state of fintech in the UAE, and the potential for adopting economic model pillars of a knowledge-based, highly productive and competitive economy, by structuring unifed omnichannel baknig platform that allows access anytime, anywhere in the UAE, any device access with consistent experience across channels. omnichannel enables interactions across multiple customer touch points where intents are captured, insights are derived and conversations are personalized and optimized.

Figure 1.1 Scope of the Thesis
This thesis also:
• Does not address blockchain technology role in omnichannel banking .
• Does not cover cybersecurity technoloy will be used.
• Does not address implemetation phase of the model.
• Does not handle how will the govement will unifend all emirates ro
1.3 Thesis objectives and hypotheses
Objectives[key points]
o to describe the current state of fintech in UAE, and this status in relation to fintech in the rest of the world;
o to describe the current state of digital banking in UAE.
o identification of opportunities in omnichannel banking and for UAE fintech sector firms and;
o
o Relate omnichannel experience to the opportunities of the Dubai Expo 2020.
Hypotheses [key points]
o The research questions for this study are as follows:
1 RQ1. What are the factors, barriers and opportunities currently facing the fintech sector in the UAE?
• This question helps to identify barriers and challenges that can be reduced to facilitate omnichannel baking or to address problems while harnessing the possible opportunities.

2 RQ2. What is the current state of fintech in the UAE in comparison to other jurisdictions?
• This question provided verification of information found in the background and literature review sections.

3 RQ3. How have the digital banking services driven by digital, mobile and online fulfill needs of customer interaction with the banks in comparison to digital solutions outcomes and customer satisfaction?
• This question helps to identify the degree banks meet online/digital/mobile banking demands and fulfill customer desire for being able to engage with banks when, where and how.

4 RQ4. How can the various players in the interoperability of banking in the UAE work together to facilitate omnichannel banking system?

H1: A substantial increase in customer interaction touchpoints awareness in the UAE will have a significant, direct impact on UAE government objective to transform the traditional banking with an omnichannel banking model.
H2: A significant, positive correlation exists between the number of people who own a smart device and the number of people who use digital /online/mobile banking as a primary medium of finance transactions.
H3: A significant, negative correlation exists between the number of people who own an active checking account and the number of people who use digital/online/mobile banking as a primary medium of finance transaction.
H4: Implementation of standardization and regulatory policies by the UAE government will have a significant, positive impact on the growth of fintech and the success of the transition to an omnichannel banking model in the UAE.
H5: A significant, positive correlation exists between UAE government strategy to transform for smart cities and omnichannel banking service with seamless access across all self-service channels.
1.4 Reaserch contributions
This thesis addresses the opportunity of implement omni channel banking platform in UAE:
• identify barriers and challenges that can be reduced to facilitate omnichannel baking or to address problems while harnessing the possible opportunities.
• identify the degree banks meet online/digital/mobile banking demands and fulfill customer desire for being able to engage with banks when, where and how
• a model, omnichannel, is proposed to allows customers to enjoy seamless, personalized service across every touch point

• an interleaved interoperability between the various players in the of banking sector in the UAE work together to facilitate omnichannel banking system and evaluation process of model proposed;

• Implementation of standardization and regulatory policies by the UAE government will improve the sustainable and diversified economy, flexible in adopting new economic models, and capitalising on global economic partnerships

• Innovation in technology will form the pillars of a knowledge-based, highly productive and competitive economy, driven by entrepreneurs in a business-friendly environment where public and private sectors form effective partnerships.
1.6 Thesis outlines
Describe each chapter and what Hypothesis it related to:
The remaining five chapters describe how the aims of the research were met. Chapter 2 reviews related work. It discusses the lack of digital banking service outcomes and for the need of new model and techniques. H1

[Key point] chaper3as describes in table of contents and addresses hypothesis H1 .
[Key point] chaper4 as describes in table of contents and addresses hypothesis H2-H4 .
[Key point] chaper5  as describes in table of contents and addresses hypothesis H5 .
[Key point] chaper6  summarises the research and contributions described in this thesis
and propose future work needed to further refine omnichannel model