Bank Muscat and telecom services provider Ooredoo have signed a Memorandum of Understanding (MoU) to digitalise Ooredoo’s payments and reconciliation. The MoU was signed by Abdul Razzaq Abdul Wahid Al Balushi, Chief Financial Officer, Ooredoo, and Tariq Atiq, DGM – Transaction & Public Sector Banking, Bank Muscat recently.

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Abdul Razzaq Abdul Wahid Al Balushi, Chief Financial Officer, Ooredoo, said: “This agreement will facilitate exchange of knowledge between both parties and enhance the service level provided to our customers. The new solutions will greatly enhance our daily operations leading to business efficiencies and scalability. We are proud to partner with Bank Muscat to pioneer new digital initiatives.”

Tariq Atiq, DGM – Transaction & Public Sector Banking, Bank Muscat, said: “Digital solutions are playing a bigger role in the development of the economy today and will soon become the only way ahead. More and more corporates are boosting their internal efficiencies by using our various digital solutions. We are very happy to welcome Ooredoo onboard our digital solutions, which will facilitate greater operating efficiencies and customer satisfaction for them.”

The digital solutions from Bank Muscat can be used by large corporates to make online payments and information can flow to the bank for processing. Large corporates can use Bank Muscat’s digital solutions to build an efficient and robust payment and reconciliation system. Bank Muscat also offers a number of tailor-made solutions such as Remote Deposit Capture (RDC) and Direct Debit Solution to its corporate customers.

The bank provides expert advice to corporates and institutional partners on structuring an automated and efficient accounts-receivables process and help them make a smooth transition towards efficient technology-focused processes.