An agreement to implement a comprehensive banking system has been signed between H E Darwish bin Ismail bin Ali al Balushi, Minister Responsible for Financial Affairs and board chairman of Oman Housing Bank (OHB), and Muscat-based Infoline LLC, a leading provider of IT and outsourcing services.
As part of the project, OHB will be implementing the TCS BaNCS Core Banking Solutions developed by Indian IT behemoth Tata Consultancy Services, along with ERP and Risk Management modules.
Terming the implementation of Core Banking Solutions at OHB as a major initiative, H E Balushi said the focus should be on seamless integration of various elements of the new integrated banking system with the existing one.
Commenting on the pact, Adnan bin Haidar Darwish, general manager of OHB, said, “The agreement comes as part of OHB’s efforts to develop its e-services toward achieving international banking standards as well as high level of customer satisfaction through the introduction of state-of-the-art banking system. Apart from facilitating easy exchange of information with the e-government project, the Core Banking Solutions will greatly support the ambitious plan of the bank to provide a host of services and benefits to our customers in a sustainable way.”
The integrated banking solution will ensure round-the-clock technical support and security protection for the bank and facilitate better risk management, he added.
Infoline - an ISO certified J-V involving Ingenuity Technologies, Oman Telecommunication Company (OTE) and Public Establishment of Industrial Estate (PEIE) will be the implementor of the integrated project, while Ernst & Young are the project management consultants to OHB for the Core Banking System implementation project.
Speaking on the sidelines of the signing ceremony, Munther bin Hamad al Wahibi, IT manager at OHB, said, “The new banking system will meet OHB’s full range of future requirements and boost operations and services manifold.”