Bank Muscat & Muscat Finance drive financial innovation using Bank’s API Banking services

Bank Muscat & Muscat Finance drive financial innovation using Bank’s API Banking services

This groundbreaking initiative marks a significant step forward by the two entities in streamlining financial operations and unlocking new possibilities for corporate banking in the financial sector.

The post Bank Muscat & Muscat Finance drive financial innovation using Bank’s API Banking services appeared first on The Arabian Stories News.MUSCAT : Bank Muscat, the leading financial services provider in Oman, signed an agreement with Muscat Finance Company, a leading financial services company listed in Muscat Stock Exchange (MSX), to integrate the state-of-the-art Application Programming Interface (API) banking services of Bank Muscat with the Enterprise Resource Planning (ERP) system of Muscat Finance. This groundbreaking initiative marks a significant step forward by the two entities in streamlining financial operations and unlocking new possibilities for corporate banking in the financial sector. This collaboration demonstrates the commitment to empowering the entire financial ecosystem with the tools to drive innovation and improve customer service.

Through this agreement, Muscat Finance gains direct access through Bank Muscat’s API to the critical banking functions within the in-house existing (ERP) system of Muscat Finance. The API banking services enable seamless initiation and authorization of payments, real-time transaction monitoring, and automated reconciliation processes, boosting efficiency and accuracy. In the meanwhile, the secure and