Bank Muscat facilitates the digital transformation of its government and corporate clients
MUSCAT – In line with its role in boosting national development and digitalizing the economy as part of the ambitious Oman Vision 2040, Bank Muscat, the sultanate’s leading financial services provider, continues to launch banking solutions and services digital innovations that are transforming the banking industry. for its Institutional and Corporate Banking clients. Its Business Internet Banking, Business to Business (B2B) Connect solution, Direct Debit solution, Virtual Accounts, Sweeps solution, Remote Deposit Capture (RDC), Point of Sale and Payment Gateway payments are increasingly being leveraged by customers to rapidly transform businesses and improve efficiency. . These digital solutions optimize cash flow, provide complete control and visibility of funds, making working capital management more predictable.
In order to raise awareness on the importance of digital transformation for the country, the bank is continuously organizing client events in business centers like Salalah and Sohar to strengthen the partnership with government institutions and companies. These events provide a platform to discuss new developments in corporate banking and focus on the importance of digital transformation.
Speaking on the occasion, Ilham Murtadha al Hamaid, Managing Director – Corporate Banking, Bank Muscat, said: “As the pioneer of corporate banking in the country, Bank Muscat has always been a pillar supporting the needs of the country in both the government and private sectors.Over the past few years, the bank has worked hard to promote digital banking by constantly adding new features and services to enhance the customer experience as much as possible. Over the past 40 years, we are delighted to have played a key role in facilitating the growth and development of our government and private partners in various sectors.
She added: “Going forward, the current digital transition will only accelerate and play a key role in enabling our customers to transact securely and conveniently from anywhere. and at any time. We are delighted to see that our Government, Institutional and Corporate customers have turned wholeheartedly to a highly efficient digital bank over the past two years. Bank Muscat is pleased to further popularize the importance of the ongoing digital transformation by hosting more customer events so that we can reach as many of our government and corporate partners as possible.
Wafa Ibrahim al Ajmi, Deputy Managing Director, Transactions & Government Banking, Bank Muscat, thanked customers for their confidence in the bank’s services and facilities. She highlighted how Bank Muscat spearheaded a massive digital transformation in the banking and financial services sector in the Sultanate of Oman. The bank offers a full range of technology-driven digital offerings that target government entities, enterprises and SMEs, and enable institutions to become future-ready, agile and digitally mature organizations . She added that Bank Muscat will continue to help businesses and government entities make the most of digitalization to transform and energize their business environment.
Bank Muscat’s digital solutions and services are boosted by its new Corporate Banking website (https://www.bankmuscat.com/en/Business/Pages/Business-home-page.aspx). The website provides direct links to services and solutions, including online business banking, business loans and solutions, trade finance, agency and custodial services, industry information and electronic applications for various business solutions and other banking services. Recently, the bank has also launched the Bank Muscat business portal for online initiation of business transactions such as issuance/amendment of letters of credit, guarantees and trade finance. Accessible through the e-banking platform, the portal is an electronic channel that also helps clients to access required information/reports online. Instead of customers visiting branches and submitting their applications in person, applications can now be sent to online banking, improving convenience and accessibility for customers.
The bank’s ongoing digitization campaign is in line with the goals of Oman Vision 2040 and will further boost financial inclusion in Oman. The bank’s customers today benefit immensely from the latest devices, solutions and technological advancements made available to them through the implementation of advanced technologies. Bank Muscat has announced its intention to continue introducing new digital services and features that further improve banking convenience and security in the future, and its efforts in customer centricity and digitalization have been well recognized by the media local and international, with the bank regularly winning numerous awards through its various businesses. In recognition of the bank’s commitment to providing innovative digital solutions to its customers, Bank Muscat has won a number of prestigious awards, including Best Corporate/Institutional Digital Bank (Oman) and Best consumer digital banking (Oman) awarded by Global Finance.