Bank Muscat, the leading financial services provider in the Sultanate of Oman, has been awarded the Platinum Award for Product Innovation by Infosys Finacle in recognition of its excellence the Instant Loans Automation through its mobile banking application, The first of its kind service in the Oman banking sector. The award reflects the bank’s leadership in driving digital transformation within Oman’s banking sector. The service enables eligible customers to apply for a personal loan and complete all required procedures fully digitally within minutes, without the need to visit a branch or submit physical documents. Once submitted online application by customer successfully, the loan amount will be credited immediately.
Bank Muscat initially launched the Instant Personal Loan Service for customers employed in the government sector as part of its commitment to delivering a seamless and integrated banking experience. The service has now been extended to employees of Quasi government entities as well. The system performs an instant credit eligibility assessment and allows customers to complete the application process digitally with fileable steps and secure authentication through a One-Time Password (OTP). Loan documents and repayment schedules are also made available digitally through the mobile application, enhancing speed and efficiency in completing banking transactions.
Commenting on the achievement, Abdulnasir Al Raisi, General Manager Personal Banking, Bank Muscat, said: “We are extremely proud to receive this prestigious award from Infosys Finacle. This recognition is a testament to our ongoing commitment to innovation and delivering an exceptional banking experience to our customers. This achievement is the result of the dedicated efforts of our teams, who continuously strive to reimagine banking services through innovative approaches and by leveraging the latest digital technologies to provide seamless, secure, and flexible financial solutions.” He added: “At Bank Muscat, we believe that continuous innovation is the cornerstone of meeting our customers’ evolving expectations in the digital era. We will continue to adopt the latest technological innovations to further strengthen our leadership position in the banking sector.”
The launch of this new service further reinforces Bank Muscat’s position as a key driver of digital transformation in the Sultanate by proactively adopting advanced banking technologies and developing smart solutions that meet customer expectations while enhancing service efficiency. Through such initiatives, Bank Muscat continues to advance digital innovation and provide sophisticated banking services that support the aspirations of the community and elevate the customer experience by offering convenient and secure financial solutions that are accessible anytime and anywhere.
Customers wishing to benefit from the service can log in to the Mobile Banking, Requests, Loans, and then apply instantly for a personal loan by following the on-screen instructions.
For more information about the Instant Personal Loan Service, customers may visit the following page: https://www.bankmuscat.om/en/loans/Pages/details.aspx#digital-personal. or contact the Call Centre at 24795555.
