OAB Unveils Corporate Mobile Banking Platform in Partnership with ProgressSoft

Oman Arab Bank has launched a comprehensive corporate mobile banking platform developed in partnership with ProgressSoft, extending full business banking capabilities to mobile devices for corporate clients, government entities, and SMEs.

The platform was unveiled at an event held under the patronage of the Minister of Economy, underscoring the national significance of digital banking infrastructure development in Oman. OAB said the platform provides corporate customers with secure, on-the-go financial management tools that were previously available only through desktop internet banking systems.

Key capabilities include real-time payment approvals, multi-currency account monitoring, international transfer initiation, and comprehensive transaction reporting. The mobile platform enables authorised corporate users to approve payments and manage cash positions from their mobile devices, reducing the delays associated with desktop-only access to corporate banking functions.

The launch builds on OAB's 2024 adoption of ProgressSoft's Corporate Internet Banking Platform, extending the same capabilities to mobile channels. ProgressSoft, a Jordanian financial technology company specialising in payment and banking solutions, has been expanding its presence across the Gulf banking market.

Corporate mobile banking has been slower to develop than retail mobile banking, partly due to the more complex approval workflows, multi-signatory requirements, and security considerations involved in business banking. OAB's platform addresses these requirements with features including multi-level authorisation, role-based access controls, and enhanced security protocols designed for corporate use.

The launch positions OAB among the more digitally advanced banks in Oman's corporate banking market.