MUSCAT – Bank Muscat has been honoured as the Gold Winner in Corporate Banking Innovation by Infosys Finacle. This accolade acknowledges the Bank’s excellence in implementing Soft Token Authentication, Unified File Format, and Automated Balance Confirmation.
On this occasion, Mohammed Saud Al Naamani, Deputy General Manager of Business Applications at Bank Muscat, expressed his delight at receiving this prestigious award. He highlighted the Bank’s ongoing commitment to developing and modernizing its internal operations to adapt to the rapidly changing business landscape. Al Naamani emphasized the importance of providing digital solutions that enable corporate customers to execute their financial transactions efficiently and securely. He stated, “We are dedicated to adopting the latest technologies to deliver the best possible services. We sincerely thank our customers for their unwavering trust in Bank Muscat and the innovative products and services we offer.”
The Soft Token Authentication for corporate customers available through the mobile application significantly enhances user experience, offering clear instructions and streamlined steps. Also, Unified File Format for companies facilitates automatic account balance verification, ensuring seamless information exchange between organizations across various billing transactions and reports. This innovation not only reduces errors but also simplifies tracking and auditing processes. The Automated Balance Confirmation enhances financial accuracy and expedites settlement transactions between companies, ensuring compliance with legal and regulatory requirements. This includes the ability to confirm financial statements across multiple accounts and branches simultaneously, with immediate access to updated data.
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