(MENAFN- Muscat Daily) Muscat -
Bank Muscat and food and beverages giant Oman Refreshment Company (Pepsi Oman) have signed an agreement to on board Oman Refreshment operations to Bank Muscat's B2B platform while providing access to the bank's Remote Deposit Capture (RDC) facility.
The agreement was signed recently by Youssef Ezzikhe, chief executive officer of Oman Refreshment, and Tariq Atiq, DGM - transaction and public sector banking at Bank Muscat and comes as part of the bank's initiative to on board more corporates to various digital solutions and services provided by the bank.
According to a press release, the bank's B2B solution will seamlessly and securely integrate with Oman Refreshment's ERP to provide an automated, two-way data transfer service for high volume online payments. The corporate will be able to optimise the efficiency of its employees by saving on man-hours since personal visits and face-to-face interaction with bank employees will not be required on a daily basis for payment processing and reconciliation. Thus Oman Refreshment Co will be in a position to provide better service to its vendors, customers and other stakeholders because of the straight-through nature of online channels.
Atiq said, 'In step with the rapid developments in digitalisation, the bank's strategy is to help corporates keep pace with these developments and optimise their performance. Digital solutions are playing a bigger role in the development of the economy today. With a series of innovative online banking and technology developments, Bank Muscat is in a position to address the complete payment requirements of organisations of any size.'
Ezzikhe said, 'This agreement will facilitate exchange of knowledge between both parties and enhance the service level provided to our customers. We hope that the digitalisation of services will greatly improve satisfaction for our stakeholders. We are proud to partner with Bank Muscat to pioneer these new digital initiatives.'
The niche B2B Connect solution is an advanced version of online banking targeted mainly at large corporates. With the B2B Connect solution, corporates can carry out payment approvals in their ERP and the information can flow to the bank for processing. Through this solution, institutions can build an efficient and robust payment and reconciliation system.
The bank's corporate online banking platform serves as a key solution for corporate payments. With the integration of corporate enterprise resource planning (ERP) systems with the online banking platform, a complete digitalisation process is now in place for corporate payables as well as reconciliation.
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