BankDhofar completes digital transformation with Infosys Finacle

By Robin Amlot

Infosys Finacle, part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys, reports that BankDhofar in Oman has successfully completed a comprehensive, three-phase modernisation programme leveraging the Finacle Digital Banking Suite. The programme was completed ahead of schedule and covered digital transformation of the bank’s core banking platform, digital channels and branches, in line with the bank’s vision of becoming a digital-first entity, and ‘the best bank in the Gulf for customer experience’.

Transformation highlights

Phase 1 – With the dual objective of simplifying banking and enhancing customer experience, BankDhofar modernised its branches in consultation with Infosys’ customer-centric digital transformation studio. Since then, the bank’s digital age branches have seen improved staff performances, higher customer satisfaction among both business and corporate customers, and a good improvement in sales to service ratio.

Phase 2 – This phase saw a digital channels modernisation programme involving an upgrade of the existing Finacle Online Banking application for both retail and corporate banking. The bank also implemented the Finacle Digital Engagement Hub as a platform for delivering integrated, contextual and tailored digital banking services across channels, and redesigned customer-facing processes to facilitate the shift to digital.

Phase 3 – This phase saw a revamping of the entire back-end technology infrastructure with the upgrade of Finacle Treasury, Finacle Payments, and Finacle Core Banking platforms to the latest Finacle 11 enterprise version. Additionally, BankDhofar implemented the preferential pricing, VAT and country limit capabilities, alongside training 800+ staff on the new platform.

BankDhofar is now in a position to co-innovate with the external digital ecosystem and go to market at speed with a fast, scalable, and comprehensive suite of web services and more than 1100 RESTful APIs.

Abdul Hakeem Omar Al Ojaili, Chief Executive Officer, BankDhofar, said: “Post go-live, we believe BankDhofar ranks the highest in terms of technology leadership, and functional coverage. We are now well-positioned to offer our customers a world-class banking facility with the new platform, either at the branch or through digital channels, as we strive to strengthen our leadership position in the Sultanate.”

Sajit Vijayakumar, Senior Vice President and Chief Operating Officer, Infosys Finacle, added: “This programme builds on the foundations of strong partnership for over 10 years. The success of this comprehensive modernisation underlines our position as a provider of [the] industry-leading digital banking suite and a dependable digital transformation partner for financial institutions. The modern technology foundation will help BankDhofar further cement its market leadership and help drive innovation-led growth.”