Muscat: Traditional banking methods may no longer suffice in today’s fast-paced business environment. The demand for digital transformation in the corporate world is rapidly increasing, with businesses recognizing the potential for cost savings, increased revenue, improved customer experience, and better risk management. Considering global trends and as financial partners to our government and corporate clients, Sohar International has invested in and rolled out a Unified Transaction Banking Platform that facilitates cash & liquidity management and trade finance solutions driven optimized collections, capitalization on timely FX rates, enhanced payments processing, efficient liquidity management, effective supply chain, and digitized trade finance applications.
Sohar International has showcased its commitment to innovative approaches by offering paperless trade and supply chain finance options, aiming to eliminate the lengthy and inefficient paper-based processes. By adopting these new solutions, customers can benefit from faster processing times and enhance their business operations. Moreover, the integration of structured receivable and payment solutions is further expected to diversify clients’ tools for the management of liquidity and working capital finance.
The adaptability of technology is not a one-off step; it is a constant and consistent process, a journey. Being farsighted is vital to timely adaptability, where Sohar International’s Unified Transaction Banking Platform with globally benchmarked services can be cited as a case in point. Using its fast-paced, strategic approach to digitalization, the Bank offers cutting-edge solutions revolutionizing how businesses bank and prosper.
The Unified Transaction Banking Platform is a suite of innovative solutions that simplify banking operations and enhance security. Here’s a closer look at what it offers:
- From the convenience of your office or home, you can make all your payments like salary, utilities, local/international vendor payments, and even digitize your cheque issuance process.
- You can also experience the power of customized & consolidated collections solutions vide Virtual Accounts, Point of Sale (POS), and Remote Deposition of Cheques (RDC).
- You can swiftly avail trade facilities like Letters of Credit, Guarantees, Bill discounting, Loan against Trust Receipts (LTR), and Invoice Financing in a paperless & entirely digital manner.
- You can undertake Foreign Exchange transactions online for your Payments, Receivables, or Trade transactions and avail of special FX rates.
- You can Pool or Control the balances across various group companies, optimize the interest costs, and have an automatic reconciliation with your system, thereby saving on administrative time & cost.
- You can have a Supply Chain Framework, connecting your vendors and customers and creating a digital Eco-system for easy access & control.
With the Digital Trade Finance solutions and Comprehensive Cashflow Management suite, YOU can achieve more in a single day. You may transact on Sohar International Digital platforms using Web access or direct integration of your ERP with our out-of-the-box Host to Host integration solution. With Sohar International, you would receive online real-time transaction status and outstanding facilities for You to make better-informed decisions.
The Bank’s commitment to investing in cutting-edge technology and providing continuous training and development for its staff has resulted in a team equipped with the skills necessary to implement and execute such advancements accurately. Technology integration with a well-trained workforce has consistently enabled the Bank to exceed customer expectations, providing a seamless banking experience.
more recommended stories
National Finance Bolsters Youth Interests, Contributes to the Success of Oman Drag Race
Muscat: Demonstrating its resolute commitment to.
Changan Oman brings peace of mind this Ramadan with their exclusive offer on their premium model line-up
MUSCAT: Arabian Gulf Automobiles and Equipment.
Modern College of Business and Science celebrated 31st Graduation Ceremony
Muscat: Modern College of Business and.
Samail Industrial City signs investment pacts worth over RO 500k
Muscat: Samail Industrial City signs investment.
One arrested for hunting Arabian gazelle in Buraimi
Muscat: The Environment Authority in Buraimi.
APSR Media Meeting: Over 676,000 smart meters installed in power sector
APSR holds annual media meeting at.
Four arrested for theft from shops in Oman
Muscat: The Royal Oman Police (ROP),.
Three-day awareness campaign “HEMA Masirah,” begins: CPA
Muscat: The three-day awareness campaign, “HEMA.
Fire breaks out in commercial store in Khasab, no injuries: CDAA
Muscat: The Civil Defence and Ambulance.
Muscat Municipality awards tender to develop entrance leading to Oman Botanic Garden
Muscat Municipality awards project to develop.