MUSCAT, 14 May 2019
Bank Muscat, the flagship financial services provider in the Sultanate, and the Public Authority for Social Insurance (PASI) have signed a Memorandum of Understanding (MoU) for a new initiative that will allow the Authority to leverage the Bank’s digital solutions for better customer service to PASI customers and employees alike. The MoU was signed by Tariq Atiq, DGM - Transaction & Public Sector Banking, and Hamda Said Al Shamsi, acting Director General, PASI, at the PASI office recently. The new tie-up with PASI comes under the Bank’s new vision of serving its customers better, every day.
The new system will help PASI digitise its payments by completely on-boarding the authority to the IB/B2B platform and will also access to live support. It will also provide collection solutions by connecting PASI with Bank Muscat’s Remote Deposit Capture (RDC) solution and Point of Sale (PoS) system. Reconciliation support, advice on opportunities for investment of surplus funds at better rates, helping PASI employees to benefit from various schemes on loans, cards, deposits and exploring special schemes and offers for pensioners are some of the key advantages of the new system.
Tariq Atiq, DGM - Transaction & Public Sector Banking, said, “Bank Muscat has been a pioneer of digital technologies in the country and has collaborated with PASI to introduce state-of-the-art technology to digitise PASI operations for greater efficiency in the delivery of its services. A shift to digital typically brings in a host of benefits including efficiency, cost reduction, accountability, speed and scalability.”
Hamda Al Shamsi, acting Director General, PASI said, “This agreement will facilitate exchange of knowledge between both parties and enhance the service level provided to customers. We hope that through digitalization of services will greatly improve customer satisfaction. We are proud to partner with Bank Muscat to pioneer these new services.”
The new initiatives will particularly benefit PASI employees as customised solutions, investment schemes and especially tailor-made loans will now be made available to them. Similarly, pensioners will have specially customised deposit and investment options available to them as a result of this tie-up.
This new initiative from Bank Muscat, which has the largest network of branches in the Sultanate, will provide PASI the right tools to deliver better customer service to their employees and customers resulting in increased quality of service and customer experience.