This implementation will drive the bank's digital transformation journey

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, announced the successful implementation of the Finacle Core Banking and Analytics solutions, at Bank Sohar one of the fastest growing banks in Oman.

The bank currently uses the Finacle Online Banking, Alerts and Treasury solutions; and the enhanced Finacle suite will enable Bank Sohar to accelerate its digital transformation journey, while providing a world-class banking experience to its retail and corporate customers across channels.

* Tailored dashboards and reports provided by the solution will offer a comprehensive 360-degree view of customer behavior and preferences, thereby facilitating relationship managers to engage customers with personalized services.

* The integrated advanced analytics solution will help the bank gain a deeper understanding of customer needs and enhance targeted cross-selling.

* With an open API (application programming interface) framework, the latest Finacle core banking solution will allow the bank to effectively implement open banking and easily collaborate with its external ecosystem, including partners and FinTechs.

* The solution will also enable the bank to swiftly create and launch new products across business lines such as Syndicated Loans, Leasing, Securitization and Liquidity Management.

* The bank has been able to automate several processes, including Credit Card Origination, Retail and Commercial Loan Origination, as well as ensure paper free customer onboarding, thereby significantly improving operational efficiency and productivity.