Oman Data Parks Signs Memorandum of Understanding with Bank Nizwa

Oman Data Park (ODP), the Sultanate's first IT-managed and cloud services provider, took part in the seventh edition of the New Age Banking Summit - Oman 2022 on 31st May 2022, at Al Bustan Palace, – A Ritz Carlton Hotel Muscat, under the patronage of His Excellency Tahir Al Amri, Executive President, Central Bank of Oman as the Chief Guest of the Summit.

During the summit, ODP has signed an MOUwith Bank Nizwa that focuses on Data Centre Services. This partnership frther attests to Bank Nizwa’s keen focus on embracing digitalisation and technological innovation to deliver distinct, elevated and customised services to its customers. Treating data as a quintessential element to gaining a better insight into customer preferences, Bank Nizwa has continued to invest in its data management systems to deploy innovative solutions for the benefit of its clients. Ever since its inception, Bank Nizwa has entrusted its data management to Oman Data Park (ODP). ODP, in return, has ensured that its data center has remained abreast with deploying the highest level of safety, security and efficiency in data hosting.

Commenting on the MOU  at this summit, Eng. Maqbool Al Wahaibi, CEO of Oman Data Park said, “Our participation in the seventh edition of the New Age Banking Summit constitutes a turning point in Oman Data Park’s march of achievements, where we are delighted by signing important agreements with Bank Nizwa in fields that we are enjoying privileged professionalism.“

Al Wahaibi added, “Our signing of this Memorandum of Understanding  with Bank Nizwa enhances our role in contributing effectively to achieving a safe digital transformation in the field of banking and financial services in the Sultanate, in a world that is moving towards making the most of artificial intelligence services in various fields.”

Khalid Al Kayed, CEO, Bank Nizwa stated, “We are pleased with our new partnership with Oman Data Park in the fields of advanced technology that will contribute to smoothing the data flow and ensuring its protection, while ODP is reputed by its professionalism in the field of data centers and managed services.      As the first Islamic bank in the Sultanate, we at Bank Nizwa have been keen on our leadership in various fields of our banking services, by keeping pace with the latest developments in banking technology, including our endeavor to benefit from artificial intelligence and data center services."

"Undoubtedly, keeping pace with artificial intelligence technologies will contribute to enhancing our banking services for individuals, corporate internet banking services for small and medium enterprises, international banking services for global markets and investment banking as well,” he added.     

Bank Nizwa continues to invest in innovation and provide its customers with a unique digital experience, while simultaneously giving Nizwa a solid platform for future growth. Innovative approaches have been well-integrated into the bank's future strategies, giving its business partners the ability to look forward to the further development of customer-facing applications and enhancing corresponding back-end processes and systems in the near future. Bank Nizwa has made use of available technology to enhance and onboard multiple business processes to the digital platform, leading to continuous business and operations flow. As a result, flow management can be monitored clearly, and thus, customer experience is likely to increase continuously.

The Summit focused on various areas including the transformation of the financial services ecosystem with changes in regulations, emerging consumer needs and fast-changing financial technologies, challenges and opportunities in embracing digital transformation at a faster pace, managing a balance between shareholders' expectations, national agenda, overcoming disruption threats and business growth, the collaboration between banks,  regulatory bodies and challenger enterprises, and how to meet ESG commitment and compliance.

A number of panelists also have spoken in the summit includingMujahid Al Zadjali General Manager Information Technology and operations  Ali Hassan Moosa, CEO, Oman Banks Association, Badar Al Shanfari, Chief Operating Officer (COO), OMINVEST, Ewan John MacLeod, Chief Transformation Officer, Sohar International, and many other professional cadres in financial and banking fields.
As the Cloud service Partner of the event, Oman Data Park had an active interaction in this specialized summit, through the participation of its CEO, Eng. Maqbool Al-Wahaibi, as one of the key panelists at the conference. The company also gave a visual presentation on its professional services in its various fields of work.

Oman Data Park, the Sultanate's first managed cyber security and cloud services provider, plays an integral role in supporting the digital transformation of Oman, through their offering of an all-in-one solution of computing, cloud computing, data storage, networking, web hosting and network security services. ODP also offers the Sultanate’s first Artificial Intelligence ready cloud infrastructure – Nebula AI powered by Nvidia. More details of their services can be found at www.omandatapark.com