Bank So­har ties up with Axis Bank for real-time fund trans­fers to In­dia

Times of Oman - - MARKET -

Times News Ser­vice

MUS­CAT: To of­fer cus­tomers real-time fund trans­fers, Bank So­har has col­lab­o­rated with Axis Bank, In­dia’s third largest pri­vate sec­tor bank, to launch its up­graded EKDOTEEN In­dia re­mit­tance plat­form. This upgrade is in line with Bank So­har’s ef­forts to of­fer in­no­va­tive fi­nan­cial so­lu­tions to cus­tomers.

The up­graded plat­form will en­able cus­tomers to con­duct real-time fund trans­fers to Axis Bank ac­counts across In­dia, 24/7. More­over, the plat­form will al­low fund trans­fers to other banks in In­dia. The ser­vice, avail­able 24 hours a day, seven days a week, of­fers com­pet­i­tive rates and pro­cesses re­mit­tance util­is­ing a plat­form de­vel­oped for higher ac­cu­racy, faster trans­ac­tion pro­cess­ing and en­hanced se­cu­rity.

This col­lab­o­ra­tion also en­ables ex­ist­ing and po­ten­tial NRI cus­tomers to open Axis Bank ac­counts and fixed de­posits, de­posit funds, and iden­tify op­por­tu­ni­ties for in­vest­ments and loans in In­dia.

Ra­jeev Arora, DGM and Head of Re­tail Bank­ing at Bank So­har, said: “Our col­lab­o­ra­tion with Axis Bank lead­ing to the launch of the up­graded EKDOTEEN plat­form is yet another great en­deav­our to de­liver bank­ing ex­cel­lence that re­it­er­ates the bank’s di­rec­tion for the ‘Year of You’. We have de­liv­ered this new tried and tested fa­cil­ity to make re­mit­tance eas­ier for a large seg­ment of res­i­dents in Oman, and cus­tomers can now eas­ily use their ac­counts at Bank So­har to send funds to friends, fam­ily, and busi­nesses across In­dia.”


“Con­ve­nience, in­no­va­tion and fa­cil­i­ta­tion are what we as­pire to in­te­grate into ev­ery­thing that we of­fer to our val­ued cus­tomers to help them meet their daily fi­nan­cial requirements,” he added.

“The fa­cil­ity is cur­rently avail­able in our in­ter­net bank­ing plat­form and through our in-branch tellers, and we hope to have our new fa­cil­ity avail­able on Bank So­har’s mo­bile bank­ing plat­form shortly, in-line with our drive for greater digi­ti­sa­tion and con­ve­nience to cus­tomers.”

“Bank So­har is com­mit­ted to the de­vel­op­ment of new in­no­va­tive prod­ucts and the en­hance­ment of ex­ist­ing ser­vices. Fa­cil­i­tat­ing in­ter­na­tional trans­fers at the same speed as lo­cal trans­ac­tions is def­i­nitely a step in the right di­rec­tion as we fur­ther our jour­ney of ex­cel­lence with highly com­pet­i­tive rates and out­stand­ing cus­tomer ser­vice,” he added.

NRIs con­sti­tute the largest ex­pa­tri­ate pop­u­la­tion in Oman. Un­der this part­ner­ship, the two ma­jor banks will pro­vide unique prod­ucts and ser­vices to this cus­tomer seg­ment.

“Bank­ing trans­ac­tions, in­clud­ing remit­tances be­tween the Mid­dle East and In­dia, have been grow­ing con­tin­u­ously and we look for­ward to play­ing a sig­nif­i­cant role in serv­ing the bank­ing needs of our fel­low cit­i­zens in Oman,” said Ra­jiv Anand, Ex­ec­u­tive Direc­tor, Axis Bank.

“We are delighted to part­ner with Bank So­har, which will fur­ther help us ex­tend our dig­i­tal jour­ney by pro­vid­ing real-time, flex­i­ble and au­to­mated bank­ing pro­cesses to max­imise op­er­a­tional ef­fi­ciency and pro­vide the best-in­class cus­tomer ser­vice,” he added.

File pic­ture – Times

BANK­ING EX­CEL­LENCE: The up­graded plat­form will en­able cus­tomers to con­duct real-time fund trans­fers to Axis Bank ac­counts across In­dia, 24/7.

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