A prominent Bank based in Sultanate of Oman operates a nation-wide network of branches and ATMs/CDMs. It is also listed in the Muscat Stock Exchange (MSX).

The Bank has consistently demonstrated a strong commitment to provide customers with a comprehensive suite of innovative Retail Banking, Corporate and Project finance, and Trade Finance solutions.

As part of its strategic plans, the Bank wanted to identify and enhance its processes to improve overall customer experience. The bank turned to TXN for its expertise in digital transformation.

The scope included the following areas :

 a. Trade Finance Operations

 b. Treasury Operations

 c. Remittances

 d. Internal Control & Reconciliation

 e. Credit Administration

Backed by over 100 years of combined experience, TXN’s Senior Consultants undertook a comprehensive review of the various processes in scope. The Bank also wanted to carry out a sample audit of the Trade Finance transactions to ensure that all internal and external guidelines are being scrupulously followed. TXN collaborated closely with the bank’s leadership to develop future-state processes that promised clear, measurable benefits.

This transformation program enabled the bank to identify key optimization opportunities, setting a clear path for continued enhancements. It terms of metrics, the program reduced turnaround times, mitigated operational risks, and enhanced customer experience.

These improvements translated into following outcomes: