BankDhofar launches Neo Corporate Internet Banking platform

By Vriti Gothi

BankDhofar has introduced Neo Corporate Internet Banking (Neo CIB), a new digital banking platform designed to expand and streamline services for corporate, SME, institutional, and government clients as part of the bank’s broader digital transformation strategy.

The platform aims to move beyond traditional internet banking by integrating payments, collections, payroll processing, reporting, and system connectivity into a single digital environment. By consolidating these functions, the bank intends to reduce fragmented workflows and manual processes that typically slow corporate financial operations.

According to the bank, Neo CIB provides a customisable dashboard offering real-time visibility into account balances, consolidated positions across multiple accounts, pending approvals, and transaction status. The platform enables users to initiate and monitor domestic, regional, and international payments from a single interface while maintaining audit trails to support compliance and operational oversight.

The service also expands payment capabilities across several channels, including transfers within the bank, domestic payments in Oman through ACH and RTGS networks, international payments with SWIFT GPI tracking, and regional transactions across the GCC. The platform includes specialised corridors such as transfers to India, alongside bulk payment functionality designed to reduce manual processing through record-level approvals and automated reconciliation.

Beyond payments, the platform incorporates salary processing through the PaySal solution, bill and government payment services, and collection tools such as virtual accounts, mandates, and direct debit functionality. These capabilities aim to support end-to-end financial management for businesses handling high transaction volumes.

The platform also supports automation through API and host-to-host integration, allowing businesses to connect enterprise resource planning (ERP) and treasury systems directly with the bank. Additional features include automated reconciliation files, beneficiary notifications, and detailed reporting tools.

Security controls are built into the system through configurable user roles, approval hierarchies aligned with corporate governance structures, multi-factor authentication, and transaction-level audit logs.

The launch reflects a wider shift among banks in the Middle East toward enhanced digital corporate banking platforms as institutions compete to provide integrated treasury, payments, and reporting tools for businesses. By expanding its digital capabilities, BankDhofar is positioning itself to support the growing demand for automated financial operations and connected banking ecosystems in the region.