Muscat – Sohar International, a leading bank in Oman, has unveiled its fully digital E-Mandate – Direct Debit product, designed to simplify and streamline recurring debit transactions. This innovative solution underscores the bank’s commitment to advancing financial technology and positions Sohar International as a key driver of digital transformation within Oman’s banking sector.
The E-Mandate product digitizes the traditionally manual process for recurring payments, offering both corporate and individual clients enhanced convenience, security, and efficiency. By using Sohar International’s advanced internet banking platform, customers can now electronically submit their Direct Debit requests, eliminating the need for physical forms or manual interventions. Notifications are sent via email or SMS, and customers can approve or reject mandates directly through their mobile or internet banking app, provided their bank supports E-Mandate services.
Sajeel Bashiruddin, Chief Digital Officer at Sohar International, commented on the launch: “The introduction of the E-Mandate product marks a significant milestone in Oman’s digitalization journey. It strengthens our role as a key player in the nation’s evolving financial ecosystem and aligns with our strategic objective to provide seamless, secure, and efficient digital payment solutions to our customers. Innovation remains at the heart of our strategy, and this initiative exemplifies our ongoing commitment to transforming banking experiences.”
The E-Mandate solution also helps improve Oman’s payment infrastructure by reducing reliance on post-dated cheques and simplifying the collection process for recurring payments such as rent, fees, and installments. This eco-friendly approach minimizes paper usage, contributing to environmental sustainability while providing a more cost-effective way to manage financial obligations.
The solution offers corporate clients end-to-end visibility and control over their receivables. By utilizing Sohar International’s API capabilities, businesses can seamlessly integrate E-Mandate services into their own applications and websites. Retail customers also benefit from a user-friendly mobile app, allowing them to track and manage their financial commitments in real time, ensuring greater control and transparency.
Sohar International’s introduction of the E-Mandate product highlights the bank’s vision to integrate innovative technologies into its services, fostering financial growth through secure and efficient solutions. The move contributes to a more advanced and resilient financial ecosystem in Oman, paving the way for future developments in the country’s digital economy.
About Sohar International
Sohar International is committed to redefining banking in Oman by delivering transformational services that support the growth and prosperity of its customers, community, and employees. The bank operates with the principles of More Velocity, More Value, and More Vision, ensuring that its banking services are fast, relevant, and visionary. Sohar International aims to provide world-class service through talented leadership and innovative approaches to banking. Visit www.soharinternational.com for more information.
