Intelligent CIO Middle East Issue 78 - Page 59

CASE STUDY

Bank Sohar S . A . O . G is one of the fastest growing banks in the Sultanate of Oman . It provides commercial , investment and Islamic banking services in the Gulf state . As Oman ’ s economy experiences sustained growth and the non-petroleum sector emerges as an important economic force , Bank Sohar has positioned itself as a ‘ one stop financial super-mall ’ catering to the diverse needs of individual and corporate customers . By adopting a lifecycle approach to the household sector , the bank has created a cache of value-added products .

This includes various savings deposits options , mortgages , consumer lending , insurances , and wealth management products , customised to specific consumer touchpoints . Bank Sohar believes that the development of a widespread branch and ATM network is a key contributor to the success of retail banking combined with the enhancement of alternative electronic channels like Internet banking and SMS banking .
“ Bank Sohar embarked on a journey to transform its technology in line with the bank ’ s vision and strategy to become a digitalised bank and one of the most valuable assets for a digital bank is analytics and insights . The ability to quickly capture and convert data into actionable insights will be key to success . The implementation of Finacle Analytics Solution empowers all our bank employees and management with the right insights to have more contextual engagements with our customers ,” said Mujahid Said Al-Zadjali , Deputy General Manager – IT and Alternate Channels , Bank Sohar .
Solution Highlights
Bank Sohar chose to implement Finacle Analytics – an advanced banking-analytics and Big Data solution . It integrates banking data models and new-age , open-source technologies to rapidly develop and deliver actionable insights . The solution promotes innovation and helps the bank with potential business

TODAY , OUR ORGANISATION IS

ENABLED WITH THE RIGHT ANALYTICS AT THE RIGHT TIME FOR DELIVERING SUPERIOR CUSTOMER EXPERIENCE , ENHANCED RISK MANAGEMENT AND

EFFICIENT INTERNAL OPERATIONS .

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