MUSCAT, 05 September 2018
Bank Muscat, the flagship financial services provider in the Sultanate, and SAS, leader in business analytics software and services, have been awarded for Best Data Analytics Initiative, Application or Programme in the Middle East for 2018 at the Asian Banker Middle East and Africa Awards programme. The awards ceremony was held in conjunction with the Future of Finance, Middle East & Africa, an annual gathering for decision makers in the financial services industry held in Dubai.
Bank Muscat engaged SAS to implement customer relationship management (CRM) channel integration for its growing business demands. The bank integrated multiple customer data touch points with the SAS Marketing Automation analytics engine to analyse customer behaviour in cross-sell offers, digital offers and promotions. This involved multichannel integration, including mobile banking, internet banking, automated teller machine (ATM), cash deposit machine, SMS and emails.
Bank Muscat’s implementation of the system has led to greater customer scalability. The increase in customer reach through scalable solution implementation is helping the bank to increase the cross-sell revenue. In addition, the project has improved operational efficiencies, increased lead conversion and enhanced real time access to customer data, enabling personalised product offering for higher cross-sell. It also allows the analytics system to act immediately on data such as customer transactions, eChannel activity, and branch to generate relevant cross-sell offers for the sales team. Transactional data is also helping to generate trigger based events/alerts for other business teams to act accordingly.
Abdullah Taman Al Mashani, DGM – Institutional Sales and Product Development, said: “Bank Muscat is proud to be recognised among the banking fraternity for its innovation-driven strategic initiatives. Our commitment to customers is key to providing industry-leading services and setting new benchmarks in banking excellence, in line with our vision and values. We chose SAS as our trusted partner on our journey to offer innovative services and products to our customers and stakeholders.”
Abed Hamandi, Regional Director - Professional Services, Middle East and Africa at SAS, said: “Bank Muscat and SAS believe that the key to ensuring customer satisfaction is capitalising on data and analytics. Our strategic partnership is built on the approach of delivering data-driven customer intelligence that can optimise marketing efforts and result in authentic customer engagement. Therefore, we are honoured to receive this prestigious award for this significant project, together with our most valued partner, Bank Muscat.”
The Asian Banker Middle East and Africa Financial Technology Innovation Awards 2018 is a programme designed to recognise annual achievement pertaining to world-class products and customer services, as well as identify emerging best practice in the implementation of technology in banking operations. The programme witnessed over 150 submissions from financial institutions and their IT partners from across Asia Pacific, Middle East and Africa. Each nomination was subjected to a thorough and comprehensive evaluation process to determine the awardees.