Tuesday 05, June 2018 by Jessica Combes

Bank Sohar drives digitisation with Finacle's new suite


Bank Sohar has put in place the Finacle Digital Core Banking and Analytics solutions, extending its existing Finacle services in online banking, alerts, and digital treasury services

The new digital suite supports the bank’s efforts to improve customer engagement and tailor services in the ‘Year of You’, where banking excellence and customer experience remains a strong driver in the bank’s continued development across all digital channels.

“Bank Sohar’s commitment to its customers is holistic, ranging from internal and infrastructural changes. Ultimately, we seek to deliver upon our promise of banking excellence by enhancing customers’ experiences with new products, opportunities, greater simplicity and rewards,” said Ahmed Al Musalmi, CEO of Bank Sohar, according to the Times of Oman.

The bank’s new services provide a comprehensive view of customer behaviour and preferences, equipping relationship managers with the data required for insightful market engagements. With an open API framework, the platform allows Bank Sohar to effectively implement open banking and collaborate with its external ecosystem, including partners and fintech corporations; as well as supporting the bank’s recently launched syndicated loan facility, securitisation, and liquidity management.

Operational efficiency has also observed benefits with the removal of outdated administration tasks, in addition to streamlining digital processes with credit cards, loans, and customer onboarding.

Bank Sohar has boosted customer experiences with improvements to in-branches touch points and digital services by technology upgrades, whilst further elevating its core banking system with a complementary range of new products and tools.

The bank’s improved operational efficiency has definitively enhanced customer experiences amidst a growing branch and ATM network across Oman, whilst transformational internal programmes based on the same technology upgrades have served to comprehensively reposition the bank and establish a new level of competitiveness across many strategic operations, the Times of Oman said.


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