Optimising Solutions to Better Customer Experience, Bank Nizwa Invest In Digital Onboarding

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The Sultanate of Oman's leading and most trusted Islamic bank, Bank Nizwa, has invested heavily in seamless and efficient digital account opening experiences for customers. Individuals can open Shari’ah-compliant savings accounts remotely via their laptop or mobile device, elevating their experience and satisfying their appetite to be digitally onboarded. Transparency is at the heart of Bank Nizwa's operations whilst simplified technology enhances customer convenience. Innovation is considered a fundamental pillar of the bank’s growth.

“Bank Nizwa has always been a pioneer in digital solutions, and we are committed to developing smart and fully digitised processes to ensure our efficiency. As a result of the digital onboarding process, we are able to manage cases efficiently, capture documents automatically, and collaborate more efficiently, resulting in less paperwork and more productivity. Offering self-service options allows the bank to attract new customers,” said Sadiq Al Lawati, Head Channels and Digitalisation at Bank Nizwa. “Fine-tuned digital onboarding experiences are customer-centric and form a solid foundation for long-term relationships with their clients. By acting digitally and recommending tailored products, banks can increase customer loyalty and brand awareness,” he added.

Locals and residents over 18 years of age can open a savings account virtually by downloading the Bank Nizwa Mobile App. They will need to take a picture of both sides of their IDs, take a selfie, fill out the required information, and then make a deposit. Digital onboarding provides customers with faster access to all of the bank's products. Once the process is complete the digital identity of the customer is fully set up, the savings account is open and the customer is able to use the entire portfolio of digital products of the bank. The debit card will be delivered to the customer where-ever he/she resides.  

The Bank Nizwa’s savings account serves as the basic tool when it comes to investing and growing funds with the principles of Mudaraba. Under this, the client is Shaheb-Al Mal and the bank is Mudarib. In general, Mudaraba Savings Accounts are designed for non-trading customers with some potential savings and only a few transactions per month. The key privileges of having a Bank Nizwa Savings Account include unlimited deposits to the account, quarterly profit pay-out on the monthly average balance, Bank Nizwa MasterCard debit card, zero minimum balance charges, quick fund transfers and remittances, pay orders, convenient bill payments, the advantage of mobile top-ups and the option to make donations through the account.

With 18 branches across Oman, the bank strives to provide one-stop financial services, customer support channels, and Islamic banking services to its customers. As the nation's premier Shari’ah-compliant partner of choice and the propelling force behind Islamic banking in the country and the region, Bank Nizwa has embarked on a digital transformation programme to provide Shari'ah-compliant digital banking services.

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