Oman Arab Bank (OAB) has been recognized as Domestic Retail Bank of the Year Oman and the SME Payment Solutions of the Year Oman, earning two wins at the prestigious Asian Banking & Finance (ABF) Retail Banking Awards 2023.
The SME Payment Solutions of the Year Oman award reflected the successful introduction of OAB’s state-of-the-art Mobile Pay Soft POS solution for SME customers, which represented the first of its kind in Oman and gained an extremely high initial customer penetration rate.
Earlier this year, OAB was recognized for its suite of innovative online banking services, winning the Best Online Banking Platform – Oman category at the prestigious 2022 MEA Business Awards.
Among its innovative elements, the solution provides an enhanced option allowing customers to enter their PIN through their mobile device, increasing customer convenience and confidence in security, as well as allowing the merchant to carry out real-time stock management, tax calculations, and liquidity management. The bank acquired a total of 116 new merchants in the first three months from launch.
According to the statement, “Continuing to uphold its customer-first vision, OAB has launched numerous other new products and services in recent months, including an instant debit card issuance machine; increased limits to its Digital Instant Loan; and several seasonal offers for customers.”
The process of optimizing its branches has also continued, including the installation of state-of-the-art digital banking technology to enhance the customer experience and allow customers to bank more efficiently.
Recently, Oman Arab Bankachieved the status of Association of Chartered Certified Accountants (ACCA) Approved Employer, a global benchmark for training and support.
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