In alignment with the goals of Oman Vision 2040 and to promote financial inclusion in Oman, Sohar International is committed to its digital transformation strategy. The bank continues to leverage its digital capabilities to provide proven digital solutions to both corporate and government clients. Sohar International's Unified Transaction Banking Platform, consisting of DigiCash® and DigiTrade®, offers advanced solutions that streamline banking operations, improve efficiency and security, and provide a seamless banking experience for customers. This has been widely acknowledged by clients, particularly government entities and large corporations. The enhanced Unified Transaction Banking platform has witnessed a notable increase in adoption, as evidenced by the successful onboarding of numerous new corporate clients who have experienced enhanced, seamless, and secure digital banking services.
Mr. Ahmed Al Musalmi, Chief Executive Officer of Sohar International, said, "The contemporary world demands accessible, 24/7 banking solutions that cater to the fast-paced needs of our clients. At Sohar International, we recognize the importance of staying ahead of the curve and leading industry transformation. Our commitment to innovation, adoption of disruptive technologies, and agile response to market demands has set us apart. By embracing digitalization, we have provided exceptional customer service to our wholesale banking clients while contributing to the wider societal objective of a paperless world.”
The bank's robust digital capabilities enable the provision of reliable banking solutions for cash and liquidity management, as well as trade finance-related services, through an exceptionally efficient, seamless, and secure channel. Through this platform, government and corporate clients can enjoy the convenience of making various types of payments, benefit from automated reconciliation of collections, engage in digitized trade finance transactions, and utilize a digital ecosystem that connects vendors and customers through a supply chain framework. Additionally, the platform enables easy management of balances across group companies, optimization of interest costs, and transparent booking of foreign exchange rates. Furthermore, the unified digital transaction banking platform offers flexibility in conducting transactions through web access or by integrating with an ERP system using our out-of-the-box Host-to-Host integration solution.
The tech-savvy Sohar International has adopted a calibrated client-centric approach to business that fundamentally alters the traditional transaction landscape. The organization has developed two new transformational solutions, enabling a more responsive operating model that caters to mid to large corporate and government clients. These initiatives bolster Sohar International's standing in the market as an organization equipped and ready to compete globally. The Bank offers a suite of products comparable to the best available in international markets, further strengthening its position in the industry.