Thursday 05, July 2018 by Kudakwashe

Bank Muscat unveils new digital banking services for corporates

 

Bank Muscat’s new digitalised banking services allow corporates to control their finances around the clock.

  

Oman-based Bank Muscat has reinforced corporate banking services by advancements in digitalisation and technology, reported a local daily Oman Observer.

Tariq Atiq, DGM — International Operations & Transaction Banking of Bank Muscat, said, “Businesses have gone digital covering a wide range of activities from marketing to supply chain to finance management.”

The bank’s digital transformation consists of a business to business (B2B) connect platform to address the dynamic business requirements of Government and corporate entities, remote deposit capture, an online cheque clearing solution that assists in faster clearance and efficiencies in account receivables and a direct debit solution allowing institutions to directly source funds from their customer accounts based on a mutually agreed mandate.

The Bank Muscat corporate online banking platform allows managing accounts, corporate online banking platform facilitates, real time account details, transactions in local or foreign currencies as well as bulk payments.

The move aims to assist corporates in keeping pace with new digitalisation advancements and optimise efficiency.

The bank’s technology improvements are reflected in its inter-connected branches, payment gateways, cards, merchant services, alternate channels of ATMs, CDMs, online and mobile banking as well as connectivity with utility service providers.

Bank Muscat is set to increase on its current digitalisation with an integrated transaction banking platform which will facilitate all key corporate banking products like payments, trade services, supply chain finance, liquidity and account management.

 

Features & Analyses

Wealth Management Why is there no inflation?

  Mark Burgess, Deputy Global CIO & CIO, EMEA, Columbia Threadneedle Investments, writes about one of the biggest questions… read more