With a zeal to enhance customer experiences and strong focus on elevating service quality, the National Bank of Oman (NBO), has forged an alliance with Federal Bank of India, a prominent player 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.
