Oman’s second-largest bank is now digital-first and ready for the new normal
Bangalore, India & Muscat, Oman – September 1, 2021
Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY) and BankDhofar, one of the leading banks in Oman, today announced the bank’s successful completion of a comprehensive, three phase modernization program leveraging the Finacle Digital Banking Suite. The program was completed ahead of schedule and covered digital transformation of the Bank’s core banking platform, digital channels and branches, in line with the Bank’s vision of becoming a digital-first entity, and ‘The best bank in the Gulf for customer experience’.
Transformation Highlights –
Abdul Hakeem Omar Al Ojaili, Chief Executive Officer, BankDhofar, said, “We are glad that BankDhofar Vision 2020 is today a reality with a new digital-first banking platform, powered by Infosys Finacle. We are glad that our transformation program covering technology upgrade, channels upliftment, process improvement, data restructuring, branch modernization, and culture transformation are well underway, allowing no room for disruption to the end customer. Post go-live, we believe BankDhofar ranks the highest in terms of technology leadership, and functional coverage. We are now well positioned to offer our customers a world-class banking facility with the new platform, either at the branch or through digital channels, as we strive to strengthen our leadership position in the Sultanate.”
Sajit Vijayakumar, Senior Vice President and Chief Operating Officer, Infosys Finacle: “We are proud to partner BankDhofar to help realize its ambitious Vision 2020. This program builds on the foundations of strong partnership for over ten years. The success of this comprehensive modernization underlines our position as a provider of industry-leading digital banking suite and a dependable digital transformation partner for financial institutions. The modern technology foundation will help BankDhofar further cement its market leadership and help drive innovation led growth.”
Since its inception, BankDhofar has played a key role in the growth and development of the banking industry in the Sultanate, with strong presence in Corporate Banking, Retail Banking, Treasury and Project Finance. The Bank caters to customers’ needs and requirements, and sets the standard for best customer experience through innovative products and creative solutions. BankDhofar’s commitment to community development and contribution to the growth of the national economy, has given it a reputation of commitment, foresight, and solid growth.
Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems, a wholly owned product subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences, larger ecosystem play, insights-driven interactions and ubiquitous automation. Today, banks in over 100 countries rely on Finacle to service more than a billion consumers and 1.3 billion accounts.
Finacle solutions address the core banking, omnichannel banking, payments, treasury, origination, liquidity management, Islamic banking, wealth management, analytics, artificial intelligence, and blockchain requirements of financial institutions to drive business excellence. An assessment of the top 1250 banks in the world reveals that institutions powered by the Finacle Core Banking Solution, on average, enjoy 7.2% points lower costs-to-income ratio than others.
To know more, visit www.finacle.com
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