Bank Muscat and OMRAN Group sign an MoU to digitise business operations
October 12, 2020
Bank Muscat, the leading financial services provider in the Sultanate, has signed an agreement with OMRAN Group, the executive arm of the Sultanate for tourism development, to provide a number of advanced digital solutions that are integrated in the Group’s Enterprise Resource Planning (ERP) system.
The MoU aims to enhance the collaboration between Bank Muscat and OMRAN Group through offering state of the art technology to enable customer service excellence. Bank Muscat’s highly secure B2B Connect solution will seamlessly integrate with OMRAN Group’s Enterprise Resource Planning (ERP) system to provide an automated, two-way data transfer service for high volume online payments leading to greater operational efficiencies
Tariq Atiq, DGM – Transaction & Public Sector Banking, said, “Bank Muscat has collaborated with OMRAN Group to introduce state-of-the-art technology to digitise its operations for greater efficiency in services delivery. The growing shift to digital brings a number of benefits including efficiency, cost reduction, accountability, speed and scalability. In today’s world, digitalisation is no longer an option for organisations. Going ahead, we expect more organisations to take advantage of the high degree of automation and security that is made possible by the B2B Connect solution.”
Hussain Noor Al Bulushi, Senior VP – Shared Services at OMRAN Group, said: “We are proud to partner with Bank Muscat to use its cutting-edge B2B Connect solution. OMRAN Group has been constantly embracing digitalization through the deployment of advanced technical solutions as part of our corporate sustainability to greatly improve our operational efficiencies, streamline processes and look into contemporary methods of reducing overall operational cost wherever possible through the utilization of latest technologies. We are confident that these solutions will ease our business mechanisms and create a high-quality, safe and efficient business environment.”
The niche B2B Connect solution is an advanced version of online banking targeted mainly at large corporates. With the B2B Connect solution, corporates can carry out payment approvals in their ERP and the information can flow to the bank for processing. Through this solution, institutions can build an efficient and robust payment and reconciliation system. The bank’s corporate online banking platform serves as a key solution for corporate payments. With the integration of corporate enterprise resource planning (ERP) systems with the online banking platform, a complete digitalisation process is now in place for corporate payables as well as reconciliation.
Bank Muscat also offers corporates other tailor-made solutions such as the Direct Debit solution and Remote Deposit Capture (RDC), which allow corporate customers to smoothly transition towards efficient technology-focused processes. As the leading bank in the Sultanate, Bank Muscat is committed to forging ever stronger partnerships with its customers as it improves customer experience by offering banking solutions adapted in tune with the changing customer needs and use of technology for efficient and seamless experience.
Oman Tourism Development Company (OMRAN) was established in 2005 by the Government as the executive arm of the Sultanate responsible for delivering the objectives contained in the 2040 National Tourism Strategy. OMRAN works closely with the Oman Investment Authority, Ministry of Heritage and Tourism and other Government entities to identify priorities, projects and opportunities that will maximise the potential of the Sultanate’s tourism sector.