Oman Arab Bank launches ‘Future 2.0’ initiative

Muscat: Oman Arab bank launched the ‘Step to the Future 2.0’ as a move towards the next stage of digital evolution and entailing a wide range of advanced e payment solutions and services.   The bank had launched a pioneering transformation strategy earlier this year.

Rashad al Musafir, CEO of Oman Arab Bank said, “This year our Retail Banking Group launched an extensive plan on both how to implement and leverage the latest technologies available to us in order to enhance the banking experience.  Central to this plan was finding practical solutions to help customers in their daily lives and present a product or service that offers them real value.”

Within this framework ‘Step to the Future’ was launched in January 2019 and the press conference on Tuesday was the second stage of the campaign, which included a wide range of new services, products and offers.

Delivering a detailed presentation at the W Hotel Muscat on Tuesday, the Deputy Head of the Retail Banking Group, Rashad al Shaikh said, “Our mobile phone app has moved away from password and currently uses biometric.  For our customer’s experience we have brought in solutions for seamless bill payments.”  The OAB Mobile App has been further enhanced to include a real time online bill payment service for several public services such as water and electricity.  “This is in addition to being able to pay school and university tuitions via payment kiosks at a number of educational institutions in Oman,” he added.

Currently the app has a choice of three charitable organizations the customer can donate instantly. “Later more associations are expected to be added in coordination with the Ministry of Social Development,” said Hilal al Siyabi, Head of Corporate Communications, Oman Arab Bank.

He explained, “We wanted to integrate donation and social contribution as part of the lifestyle.”  Accordingly the theme is #bank4life.

This facility has been made possible with the development of a digital Bancassurance service customers can access via the website as well as charity donation service directly integrated into the bank’s mobile app.

Meanwhile the bank has also launched a digital platform for insurance partnering with National Life said Al Shaikh, “Travel insurance is the most common and with the digital service you do not have to wait for an office to open as the policy is issued instantly.”

Adding more to the lifestyle on the digital world the bank launched the initiative of the ‘OAB Rewards’ mobile app.  This application allows customers to track their points balance as well as redeem them.  “And now we have partnered with over 150 reward partners.  OAB shopping at these stores will receive exclusive discounts as well as the option of paying using their reward points.”

The surprise element was the launch of ‘giffti’ a platform available for anyone, even non – OAB customers to download.  The users have the facility to exchange gift vouchers the app for a number of major retailers in the region.  “These vouchers can be sent via whatsApp, email or any other social media platforms and OAB customers will receive discounts of up to 10%,” Al Shaikh added.

The bank operates a nationwide network of 65 branches and representative offices in addition to 152 ATMs across Oman, but has more and more of the young customers opting for digital services encouraging the organization  to develop further on the digital adaption for continuous growth.