Thawani and BankDhofar team up to offer innovative fintech products
This first-of-its-kind partnership in Oman comes after Thawani Technologies acquired its payment solutions provider license from the Central Bank of Oman, and will see the company bring its smart and innovative solutions to the table
MUSCAT: Thawani Technologies, Oman’s pioneering digital payments platform, has signed a strategic partnership with BankDhofar, one of the fastest-growing banks in the Sultanate, to introduce trending and innovative solutions to the market.
This first-of-its-kind partnership in Oman comes after Thawani Technologies acquired its payment solutions provider license from the Central Bank of Oman (CBO), and will see the company bring its smart and innovative solutions to the table, while BankDhofar will provide its extensive infrastructure and vast expertise towards accelerating Oman’s digital transformation and the trending remote payments.
Eng. Majid Al Amri, Founder and CEO of Thawani Technologies Company said, “BankDhofar is one of the fastest-growing institutions in the Sultanate and has long been a trend-setter in digital payment services. This underscores the confidence of the private sector, as well as the small and medium enterprise community in Omani entrepreneurs recognizing their pivotal role in streamlining digital transformation in the Sultanate.” He added, “We aim to promote innovation in the market to meet the discerning requirements of customers looking for not only smart solutions to help them seamlessly run their businesses, but also, to remain ahead of the curve when it comes to top-notch digital services. We are confident that with such partnerships with the banking sector, we will take smart digital payments’ services to a whole new level in Oman.”
Long-term partnership
Dr Tariq Taha, Chief Retail Banking Officer at BankDhofar said, “We are pleased to start this longterm partnership with Thawani Technologies, in order to provide the market with robust electronic payment solutions ensuring ease and flexibility. By joining forces, we can deliver excellent customer experience in this fast-moving landscape.”
As the supervisory and regulatory authority of the National Payment Systems, CBO has been developing the technical capabilities of the banking and financial system which supports modern financial technology. In 2017, CBO launched the Mobile Payment Clearing and Switching System allowing corporates to make payments and conduct transfers conveniently through mobile phones. In 2018, CBO introduced the National Payment Systems Law to create a conducive and legislative environment, while keeping pace with the latest trends in the payments system sector in the Sultanate.
This agreement is part of BankDhofar’s continuous transformation plan, which puts digital technology and innovation at the core of its strategy. Considered one of the best banks in the region, BankDhofar continues to provide novel products and services that are custom-made to meet the needs and requirements of its customers. The Bank follows best international practices, providing elevated levels of customer experience, while always committed to community development and contribution to the growth of the national economy.
Founded in 2016, Thawani Technologies is an Omani company that specializes in providing smart payment solutions, while holding a global certificate in card security. Licensed by the Central Bank of Oman, the company has been providing innovative payment solutions in financial technology, to expedite payments’ processes, improve user experiences, and make payments safer, faster, and easier. In addition to the basic payments’ system, Thawani Technologies provides smart payment solutions through payment solutions that are built to meet the needs and challenges faced by institutions. The company also provides services through its platform to pay bills, top-up credit, pay tuition fees, and social insurance. The company recently launched the updated version of its app, offering new products and significant improvements to its portfolio of services.