Digitalisation helping Oman banks manage risk and drive business growth during Covid-19

Digitalisation helping Oman banks manage risk and drive business growth during Covid-19

Many banks are keen to digitalise their customer experience, services and products and expand beyond traditional bricks-and-mortar service models.. According to the report, the standing of Omani banks in the international market remains strong, regardless of potential geopolitical uncertainty.. Looking to the future, the report notes a renewed focus on open, connected banking, with data leveraged to drive business growth. '. Banking the ecosystem,' where customers can access several services in a single integrated experience, may represent the cornerstone of digital banking in the future - improving customer satisfaction and boosting revenue streams.. Banks are also using third parties to facilitate technology implementation with the goal of decreasing costs, improving customer experience, and enhancing their competitive edge.". "Banks that effectively leverage their digital assets, bolster cyber resilience and manage third-party risk will likely reap the benefits of increased revenue streams, regulatory compliance and enhanced operational efficiency.".