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Oman Arab Bank debuts new direct debit solution | Fintech InShorts: Latest fintech news, analysis by experts

Oman Arab Bank debuts new direct debit solution

BankingBusinessFinTech

Less than 1 min.Read

Oman Arab Bank debuts new direct debit solution

June 12, 2024

Oman Arab Bank Launches New Direct Debit Solution

Product Introduction: Oman Arab Bank (OAB) has introduced a direct debit product to streamline and automate transactions while enhancing payment security.
Target Audience: The service is designed for both individual and corporate clients.
Functionality:
- Automates recurring bill payments.
- Provides convenience by eliminating the need for writing checks or manually managing bill payments.
- Accessible through OAB’s digital banking platform or mobile app.
Customer Benefits:
- Reduces risks of debts.
- Enhances fraud protection measures.
- Ensures a seamless and reliable banking experience.
Statements:
- Khalid Al Amri, Chief Retail Banking Officer at OAB, highlights the initiative’s focus on customer satisfaction and alignment with Oman’s financial digitization efforts.
Bank Background:
- Established in 1984.
- Offers investment and retail banking, corporate and trade finance, and Islamic banking services.
- Operates over 65 branches and offices with 152 ATMs.
Additional Context: Oman Housing Bank recently partnered with Temenos to modernize its core banking platform.

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