October 4, 2023
2 mins read

NBO, Federal Bank Forge Strategic Partnership

Through this strategic partnership, Federal Bank will contribute its expertise to collaborate with NBO in introducing a revolutionary money transfer service from Oman to India. …reports Asian Lite News

Driven by a commitment to improve customer experiences and a steadfast dedication to raising service standards, the National Bank of Oman (NBO) has entered into a strategic partnership with the Federal Bank of India, a prominent leader in cross-border remittance and non-resident Indian banking services.

Through this strategic partnership, Federal Bank will contribute its expertise to collaborate with NBO in introducing a revolutionary money transfer service from Oman to India.

The affiliation between the two esteemed banks signifies a noteworthy stride towards optimising international remittances, setting a new standard of excellence in financial services whilst upholding customer-centricity.

The collaboration is poised to reform the remittance landscape by presenting seamless digital solutions to individuals in Oman who seek to remit funds.

With competitive exchange rates and a low transfer fee, this service is available in eight languages (English, Arabic, Hindi, Bangla, Kannada, Telugu, Tamil, Malayalam), making it accessible to a diverse range of customers.

This innovative service operates 24×7, allowing users to instantly transfer funds, add beneficiaries, and conduct transactions on the go. It offers a fast, simple and secure way to transfer money, catering to the modern customer’s need for convenience and efficiency. The primary channels for remittance are the NBO Mobile Banking Application and the extensive branch network across Oman.

Tariq Atiq, General Manager and Chief Retail and Digital Banking Officer, warmly expressed, “With great enthusiasm, we announce our affiliation with Federal Bank, a respected institution celebrated for its remarkable legacy. This dynamic cooperation empowers us to initiate a new era of seamless digital solutions catering to individuals in Oman who seek to send funds to India. By leveraging technology’s potential, we strive to provide accessible and reliable remittance services, ensuring a smooth and efficient money transfer journey for our patrons. As we synchronise our strengths, we envision a future where distance and borders pose no barriers to the swift and secure movement of funds, empowering families and businesses alike. Through this endeavour, we amplify financial connectivity, reflecting our profound commitment to innovation and customer-first philosophy.”

Shalini Warrier, Executive Director of Federal Bank, said, “We are thrilled to announce our remittance tie-up with NBO. This pact empowers non-resident Indians with best-in-class technology that assures fast and reliable remittances for the Indian diaspora. At Federal Bank, we consistently embrace cutting-edge technology to enhance our customers’ experience. As a key player in cross-border remittance and non-resident banking, we are confident that our partnership with NBO will significantly elevate customer satisfaction.”

Led by NBO, this remittance arrangement aims to facilitate effortless money transfers. Utilising Federal Bank’s extensive network and expertise in the Indian banking domain ensures a smooth transaction process. NBO’s customers will gain the capability to directly send funds in Indian Rupees to their beneficiaries in India, unlocking an unparalleled level of convenience and efficiency. This initiative reflects the mutual dedication of both banks to resourcefulness, client-focused approach and enhancement of financial connectivity between the two countries.

ALSO READ: Viatris Completes $1.2B Divestiture In India

ALSO READ: India Ranks 2nd In Phone Production

Previous Story

L’Oréal Paris Celebrates Women’s Empowerment

Next Story

Qadir Ali Baig Theatre Festival To Kick Off From Oct 5

Latest from Arab News

GCC condemns Israeli airstrikes in Syria

GCC SG Jasem Mohamed Albudaiwi affirmed that these airstrikes represent a continuation of efforts by the Israeli occupation forces to undermine and destabilise regional and international security Secretary General of the Gulf

Trump due in Saudi, UAE amid new tariffs

The GCC bloc, which includes the UAE, Saudi Arabia, Oman, Kuwait, Qatar, and Bahrain, has been hit with a 10% tariff, placing them among the lower-tiered rates US President Donald Trump has

Cleveland Clinic, G42 revolutionise healthcare with AI

The collaboration aims to enhance patient care, drive medical innovation, and optimise healthcare operations through AI-powered solutions In a groundbreaking partnership, Cleveland Clinic and Abu Dhabi-based artificial intelligence (AI) leader G42 have

UAE, Egypt Renew Ties

The two leaders exchanged greetings and best wishes for the remainder of the holy month of Ramadan and engaged in cordial conversation reflecting the strength of the close ties between their two

UAE tops UK, US in happiness index 

The UAE remains the happiest country in the Gulf, being the only nation in the region to feature in the top 25. Kuwait ranked 30th, Saudi Arabia 32nd, Oman 52nd, and Bahrain
Go toTop