There has been a huge growth in consumers' use of self-service banking channels like ATMs and online banking in Oman. Online banking is driving most of the growth. Most Omani banks are seeking to increase the online functionality they offer. They're helping people to do more online, and people like to help themselves. Online banking is driving most of the self-service growth.

Banks going in for new digital technology today will be best positioned to reap the rewards of future growth opportunities, say bankers. The Multi Protocol Label Switching (MPLS) launched by OmantelOmantel is worth mentioning here. MPLS technology, a broadband network, allows the transfer of data, voice and picture in one stream within a highly efficient and compatible system. It improves customer service at delivery points. Hassan AbdulAli al Lawati, Deputy General Manager, Oman Arab Bank (OAB)Oman Arab Bank (OAB), says OABOAB went in for MPLS technology two years ago and it is now planning to move all its branches to MPLS.

OABOAB has made a move towards attaining end-to-end infrastructure disaster recovery by implementing the solutions available on Windows Server 2003 platform, which ensures that all data can easily be recovered in case of emergencies. This allows OABOAB to offer their customers a minimum downtime service. Last year, OmantelOmantel signed an agreement to provide BankMuscatBankMuscat with a virtual private network using the MPLS which will connect 105 locations at a speed of 512kbps, as well as set up a connection with the head office and the disaster recovery centre at a speed of 34mbps.

NBONBO too has signed an agreement with OmantelOmantel. NBONBO's Corporate Internet Banking called "Sama" has been a huge success. This service allows corporate customers to carry out their banking activities over the Internet in a secure way. Sama service has several innovative features, enabling corporate customers to check balance and trade enquiries across various NBONBO accounts held by them as well as view or print transaction history. Instructions can also be given through Internet banking with end-to-end seamless processing.

These include telex transfers, demand drafts, third party transfers (other accounts within NBONBO), book transfers (within own accounts), cheque book requests and bulk remittances. In the field of business intelligence, NBONBO has installed the Oracle Data Warehouse System aimed at identifying profitable segments of customers, specifically high net worth individuals, in order to provide higher levels of service to ensure that NBONBO retains and expands these relationships.

Ravi Khanna, Assistant General Manager -- IT, BankDhofarBankDhofar, says BankDhofarBankDhofar boasts several IT solutions based self-service channels to its customers such as eZTrade (Online Trade Finance), Al Zajil (SMS Banking), Smart Deposit machines for Cash Deposit, Bill Payment and Cheque deposit, ATMs and Wisal (Contact Centre and Phone Banking, Cash and Cheque Deposit machines).

Generally, Omani banks understand the value of identifying how strategic use of technology is critical to their long-term success. Using technology as an enabler to attain business objectives in an innovative way, focused on both revenue generation and operational efficiencies, is the key area of focus for banks in Oman today.

By Hasan Kamoonpuri

© Oman Daily Observer 2008

 

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