Oman Arab Bank Launches Corporate Banking Suite

Muscat, March 27, 2024

Oman Arab Bank has officially launched its new Corporate Internet Banking Platform utilizing ProgressSoft’s Corporate Banking Suite, marking a significant milestone that sets new standards for excellence within the industry.

Renowned for its cutting-edge payment solutions and steadfast dedication to innovation, Oman Arab Bank has strategically aligned with ProgressSoft as a vital partner for its Corporate Internet Banking Platform. This aims to enhance the user experience for its more than 4,000 corporate clients by providing upgraded and continuously available services.

The new features include local and international payments, bill settlements and salary disbursements, in addition to efficient management of checks, cards, loans, beneficiaries and accounts, all of which can be conducted within the confines of the corporate’s premises. Additionally, the solution equips the bank’s corporate clients with cash forecasting, insightful dashboards and comprehensive reporting capabilities, providing a holistic view of current and future total cash positions and streamlining financial interactions.

The Chief Wholesale Banking Officer of Oman Arab Bank, Mr. Sulaiman Al Hinai, expressed, “We stand at the beginning of a new era of innovation by initiating the electronic banking service platform for companies and governmental entities in cooperation with our strategic partners, ProgressSoft.” He continued, “The platform was designed to go beyond the limits of traditional banking services, attaining the requirements and aspirations of our partners from various sectors. The platform also enjoys the latest and highest levels of global security to provide safe and easy banking operations to facilitate banking and financial transactions for our esteemed clients.”

In addition to its extended services, the suite provides a robust user-friendly platform for corporate and government clients, enhancing security and the overall experience for them. This endeavor also marks a pioneering leap forward in Oman, as it presents the country's inaugural widespread adoption of the new Remote Deposit Check feature.

“This pivotal collaboration between ProgressSoft and Oman Arab Bank exemplifies our shared commitment to advancing financial excellence and ushering in a new era of digital transformation,” conveyed Michael Wakileh, Chief Executive Officer of ProgressSoft. “This cutting-edge platform is set to transform corporate financial operations, surpassing previous benchmarks and setting new standards in the banking industry of Oman.”

ProgressSoft takes immense pride in its partnership with Oman Arab Bank and in celebrating this remarkable milestone within Oman’s digital and corporate banking landscape.