Bank Sohar wins ‘Finacle Client Innovation Award’

MUSCAT: Marking its 8th award in 2015, Bank Sohar recently won the ‘ Finacle Client Innovation Award 2015’ from Infosys Finacle, part of EdgeVerve Systems and a product subsidiary of Infosys, for the runner-up category of the ‘Innovative Customs Component Developed’.

The bank was awarded in recognition of the efforts and the initiatives driven by the banks in leveraging the Finacle Solutions to deliver breakthrough innovations in banking products, customer service, processes and distribution channels, says a press release.

This prestigious award was presented to the bank by Infosys at the ‘Finacle Forum - 2015’ organised in Bangalore, India.

Commenting on the award, Ra- shad Ali Al Musafir, acting CEO of Bank Sohar, said: “We value this prestigious global award from Infosys, especially considering the fact that Bank Sohar is the only financial institution in Oman and one amongst a few in GCC to have won the 2015 Infosys Finacle Client Innovation Award. We proudly note that this award is representative of the high level of Innovation showcased by the bank, through customer centric products, and by leveraging the Finacle solutions; which is in line with the bank’s commitment towards creating the finest banking solutions, services and products that will make us unique, distinct and different.”

This year, Infosys Finacle invited nominations across six categories encompassing product in- novation, channels/distribution innovation, customer service innovation, process innovation, innovative custom components and project management. A total of 104 nominations were received, which were subsequently judged on three criteria: Degree of innovativeness, benefits reaped, and complexity of the initiative.

Mujahid Said Al Zadjali, DGM and head of IT and Alternate Channels, Bank Sohar, said: “We always strive to leverage technology to provide customers the optimal banking experience. This is why we continue to invest heavily in advanced technology systems that drive service excellence and product innovation across branches and electronic and digital channels. This award is a strong statement towards our commitment to customers in the Sultanate, for facilitating a truly digital banking experience.”

Michael Reh, executive vice president and CEO (designate), EdgeVerve said: “This year we received an overwhelming response and participation, which highlights how our clients are embracing breakthrough innovations quickly to take advantage of global technology shifts and deliver differentiated products and services, based on customers’ unique requirements.”

The bank has already upgraded the Finacle Treasury and eBanking applications to the latest versions available in the market that come with lot of value-added products and services.