MUSCAT: Driven by its digital transformation strategy, Sohar International was recently adjudged as a frontrunner under the Innovative Custom Components category at the fifth edition of the Infosys Finacle Client Innovation Awards. The award was organised in India by Infosys Limited; the corporation that provides business consulting, information technology and services to financial institutions across 19 countries. Sohar International was lauded in recognition of its determination to deliver breakthrough innovation in banking products, customer service, process design and distribution channels capitalising on Finacle solutions.
The bank won the ‘Innovative Custom Components’ category on account of its innovative approach and implementation of the ‘Online Monitoring of Country Limit’ along with its enhanced ‘Turnaround Time Customer Service Enhancement’ initiatives including account opening within 5 minutes; personal loan approvals in 24 hours, housing loan complete processing within 72 hours along with offering letters of credit within 30 minutes; each designed to suit dynamic customer and market needs.
Commenting on the recognition of the bank’s spirit of innovation, Ahmed al Musalmi, Chief Executive Officer, Sohar International said, “With a deep understanding of global dynamics and trends, our bank has embarked on a new journey to transform banking beyond the mere provision of financial services to become a leading Omani service company that helps customers grow and prosper.
With many milestones already achieved in a short span of time as part of our new five-year strategy, we are truly delighted to be recognized by Infosys Finacle Client Innovation Awards 2019. This achievement is a reflection of our new brand personality of being Sharp, Human and Unstoppable, and our spirit of innovation and entrepreneurship to bring the best of the world to our customers, offering them more velocity, more value and more vision in an ever-changing world.”
The Infosys Finacle Client Innovation Awards Ceremony is one of the most prestigious award ceremonies in the Banking Technology Industry. The annual award celebrates banks that deliver breakthrough innovations that benefit banks by increasing revenue, profitability, and enhance customer satisfaction and efficiency. With over 250 nominations received across the categories, the highest number the awards have witnessed till date; participants are adjudicated across eight categories.
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