The newly introduced app is designed to cater to the specific requirements of corporate clients, including large enterprises, government bodies, small and medium-sized enterprises , and retail businesses. It offers a range of features such as real-time account balance inquiries, fund transfers, salary disbursements, and bill payments. To ensure robust security, the application incorporates two-factor authentication, providing options for both static and dynamic passwords, along with advanced biometric verification methods like fingerprint and facial recognition.
Ahmed Al Musalmi, Chief Executive Officer of Sohar International, emphasized the growing inclination of businesses towards digital solutions that provide efficiency, convenience, and security. He stated, "In today's rapidly evolving business landscape, companies are increasingly drawn toward digital solutions that offer efficiency, convenience, and utmost security. With the introduction of our innovative and feature-rich application, our primary objective is to empower our corporate clientele with enhanced control and deeper financial insights."
This initiative aligns with Sohar International's broader digitalization strategy, reflecting its commitment to delivering innovative solutions that meet the evolving needs of its clients. The bank has been at the forefront of integrating advanced technologies into its services, aiming to provide seamless and efficient banking experiences.
In addition to the corporate mobile banking app, Sohar International offers a comprehensive suite of digital services tailored to its wholesale banking clients. The Corporate Internet Banking Service provides online tools designed to save time and resources for corporate customers, enabling online transactions, reducing paperwork, and cutting costs. Furthermore, the bank's Transaction Banking services manage routine financial transactions, including international trade financing, cash management, and liquidity solutions.
Sajeel Bashiruddin, Chief Digital Officer at Sohar International, highlighted the strategic intent behind the app's development. He noted, "Featuring a host of services that have been tailored exclusively to meet the needs of business customers, our Corporate Mobile Banking App goes beyond the optimization of operations and the infusion of convenience. It is strategically designed to enhance productivity and reduce the time and effort required for financial tasks, resulting in an efficient financial management experience for businesses."
The launch of this Sharia-compliant corporate mobile banking app is a pioneering move in Oman's financial sector, reflecting a growing trend towards digitalization in banking services. It underscores the increasing demand for mobile banking solutions that adhere to Islamic principles, catering to a segment of the market that seeks both technological innovation and compliance with Sharia law.
Sohar Islamic's initiative is expected to set a benchmark in the industry, encouraging other financial institutions to explore similar offerings. As businesses continue to seek efficient and secure ways to manage their finances, the introduction of such tailored digital solutions is likely to play a crucial role in shaping the future of corporate banking in the region.
The app is now available for download on major platforms, and corporate clients can access it using their existing internet banking credentials. For those not yet registered, the bank has facilitated an easy registration process through dedicated relationship managers or by visiting the nearest branch.