Bank Sohar introduces new digital technology

MUSCAT: In keeping with the ideology of constantly innovating with the new technology innovations, digitisation and implementing the bank’s infrastructure to achieve its vision of the most technology savvy bank, Bank Sohar has announced successfully launch of its Technology Transformation Program, which included upgrade of Finacle Core Banking System, Implementation of the Digitization Business Process Management Tool, 60+ Web Services launched on new generation IBM Integration Bus Middleware, which went live in January  2017. Bank Sohar had embarked on above Program with Customer Centricity & Digital Innovation as the key objectives. As an outcome of the above programme, bank will be able to provide 24 x 7 Universal Banking Service across its all branches and channels with digital processing of customer, account, loans with paper- less technology and faster turnaround times. Bank has also equipped itself with new Payments Hub platform which allows it to integrate Local and International payments on straight through processing (STP) with secured and faster payment processing. Bank is also enabled to provide its services through digital channels & value added partners through Middleware platform. Above changes will see customer being benefitted for the first time in Oman with end to end digital experience. Commenting on the successful implementation of the Program, Sasi Kumar, Acting CEO said, “In line with the Bank’s Board’s Vision and Strategy to be a digitalised bank, the bank embarked on a journey to transform and upgrade its technology with innovating platforms to create unique Customer Experience. Besides short term and long term benefits for the bank, the transformation also provides a digitalised platform to customers enabling faster transaction and offers an array of innovative products and services.” The primary benefits of introducing the new Core Banking platform include implementation of digital customer, account and Loan Applications, superior customer experience and improved service, operational efficiency across the bank, quick turnaround time for launching new products (digital end-to-end lending process), and end-to-end integrated applications with automation interfaces through middleware enterprise service bus. “The successful implementation of this platform would not have been possible without the unstinting support of the Bank’s Board of Directors, CEO, and Central & Branch Management Teams,” added  Mujahid al Zadjaly, DGM of IT & Alternate Channels