National Bank of Oman launches digital banking solutions for private and public sector organizations

National Bank of Oman ("NBO") has announced the launch of its fully integrated business to business (B2B) solution for government and top corporate clients.

23 Feb 2016 | Muscat, Oman

This new capability has been introduced to reinforce the Bank's digital leadership position and to bolster its values of putting the customer first and demonstrating efficient execution in everything it does. The B2B solution offered by the Bank links a corporate client's individual portfolio over a secured network and enables the processing of all types of local and foreign payments.

NBO's B2B solution offers customized features for easy reconciliation and book keeping of clients. The system is flexible to process transactions in a seamless manner and, since its implementation, has already been very well received by large organizations due to its ability to reduce overheads costs and process bulk payments efficiently.

Simultaneously, NBO has also revamped its Corporate Internet Banking (CIB) portal. The all new CIB platform provides clients with a fresh experience and guided journey along with new intuitive features such as an integrated Trade Portal, which enables clients to manage their trade services remotely. The unique trade portal allows clients to submit their letter of credit, guarantees and any other trade finance requests online and to produce customized reports and dashboards. These services ensure quicker turnaround times and efficient tracking and monitoring of trade-related transactions.

Commenting on the revamped solutions for government and corporate clients, Mr. Hassan Shabaan, Group Head - Government & Institutional Banking, said: "The roll-out of the enhanced B2B solution and corporate internet banking portal are in line with National Bank of Oman's digital leadership strategy to offer the best-in-class service for our Government and corporate clients. National Bank of Oman is proud to be a pioneer in the use of technology to augment our customers' banking experience."

The B2B system integration takes place in a highly secure environment ensuring data protection and integrity at all stages of the straight through process. The client receives alerts at each stage of the transaction processing as the B2B system notifies beneficiaries about the payments through email and SMS.

In addition to enquiry and transaction functions, the new revamped CIB offers online real-time bill payments for Omantel, Ooredoo, OIFC, ONEC and PASI. CIB also offers real-time credit card details, credit card statements and credit card payment capabilities. Furthermore, the enhanced system allows for one-click repeat of transfers and payments processed. eReceipts, eStatement and email notifications are incorporated as part of the new system and corporate clients can easily get in touch with their dedicated relationship manager and provide feedback to the Bank using the enhanced features.