Personal Loans Comparison Websites in Saudi Arabia: Challenges and Proposed Solution

Abstract

Comparison-Shopping websites (CSWs) have emerged as important decision support tool for buyers and sellers. For buyers, they offer the ability to compare their purchase alternatives based on price, product features, and merchant reputation factors. For sellers, they provide a useful and more accurate information about potential customers and theirs needs which can directly affect sales. In fact, comparison-shopping websites mediate the interactions between customers and sellers in order to yield more efficient markets by increasing awareness of prices, product’s features and can encourage businesses to offer good value and more transparent pricing. In this paper, we have reviewed the role and usage of CSW in different markets with more focus on the challenges facing the comparing personal loans products in Saudi Arabia. That’s have results in a designing Personal Loans Comparison Tool (PLCT) that suits the Saudi market and comply with its regulations.