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MENAFN - Muscat Daily - 10/04/2014
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(MENAFN - Muscat Daily) Bank Nizwa, Oman's leading Islamic bank, has become the first bank in the sultanate to implement an electronic cheque clearing solution which enables the bank to clear cheques drawn in Bank Nizwa between all of its branches without any hassle.


The bank has partnered with leading technology company ProgressSoft Corporation to offer speedier cheque clearing to its customers through imaging technology which reduces the time required for payment of cheques. The technology, known as PSECC PromptOnUs, enables Bank Nizwa customers to enjoy instant cheque collection and deposit as they receive image based deposit slips and can easily track their cheque transactions online.


Dr Jamil el Jaroudi, Bank Nizwa, CEO, said, With the success of introducing this new service to our Core Banking System, we are confident of adding to the technology to increase the benefits to our customers. We eagerly anticipate innovative platforms such as Corporate Remote Cheque deposit and capture on our ATM network and very soon our customers will be even able to clear their cheques via our online banking system.'


Dr Yousef Janahi, head of IT, Bank Nizwa, said, At Bank Nizwa we believe that technology is the way forward for an easy banking experience. Through this technology our customers can enjoy an easier way to make payments and be assured of having their cheques cleared faster. We continuously assess the market to see what technological advancements are available to make our customer's experience richer.


The Prompt OnUs product ticks all the boxes and our entire team here is very excited to see it in action.' The technology reduces the associated costs of transit and delays in processing and also ensures that the collection and realisation of cheques is seamless.


It is a worthy addition to the banks high end technology which includes instant cheque readers, instant card readers, instant issuance of master card and its Civil Identity Card reader, all of which highlight the bank's commitment to the success of next generation banking procedures which will make banking easier and safer for its customers.

 






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