Thursday 26 / December / 2024
Muscat: In recognition of its initiatives to enhance customers experience, Bank Muscat, the leading financial services provider in the Sultanate of Oman, has won the prestigious Infosys Finacle Innovation Award 2023 in the category of Corporate Banking Innovation for its dynamic forex service to corporate banking customers which was successfully launched in January 2023. Bank Muscat’s Corporate Banking offers secure ‘best-in-class’ solutions and services, which are based on customer feedback and needs as well as global trends.
As part of its unwavering commitment to delivering exceptional customer experience, the Bank’s corporate online banking platform recently launched a dynamic forex service. This innovative service empowers the bank's corporate customers to access special exchange rates through the online channel, thereby transforming the entire forex transfer process into a fully digital experience. With this new service, customers can easily book foreign exchange rates for large and high-value forex transactions with quick, transparent, and efficient processing. Moreover, the platform's cutting-edge technology eliminates errors, providing timely processing of transactions and enhancing the reliability of the forex service.
Speaking on the occasion, Wafa Ibrahim Al Ajmi, Assistant General Manager - Transaction & Government Banking, Bank Muscat, said: “It is our pleasure to take this opportunity to thank Infosys Finacle for recognising the bank’s innovative dynamic forex service, which was developed to further enhance and confirm on the bank’s commitment towards innovation and excellence in customer services. Through continuously upgrading and developing its services, Bank Muscat is focused on catering to different sectors’ customers. We would like to thank all our customers for their continuous support and confidence in the bank.”
Recent innovative services are helping customers speed up their transactions. These additions are derived by the technological advances made available to them through the implementation of cutting-edge technology. The introduction of the dynamic forex service through the Corporate Online Banking platform has brought numerous benefits, including improved rates for customers, increased transaction volume, and higher exchange income. The service has enabled customers to obtain better rates for their foreign exchange transactions. Through dynamic forex service, customers can view the exchange rates offered by the bank through the online banking portal and have the option to accept or reject them. This ensures that customers have a clear understanding of the exchange rate offered by the bank.
The bank’s customer-centric vision and the adoption of global best practices have resulted in numerous accolades in the past. Earlier this year, Bank Muscat was recognized as one of the Top 100 Companies as well as one of the Top 50 banks in the region by Forbes Middle East. The bank has also won a number of awards from prestigious international publications like Euromoney, Global Finance and EMEA Finance for its different lines of business. Going ahead, the bank will continue to maintain its leadership through innovative products and services.
