NBO Signs Agreement With Nesto Hypermarket To Provide Digital Banking Services

Further strengthening a longstanding relationship, National Bank of Oman (NBO) has recently signed an agreement with Nesto Hypermarket on providing global transaction banking services to Nesto in Oman. As NBO is continuously seeking to optimize, automate and personalize its services, the Memorandum of Understanding (MoU) will see the bank providing online direct debit and smart digital payment solutions to Nesto Hypermarket. These online services will be available through the bank’s Corporate Internet Banking platform, integrated Point of Sale (POS) Machine and Payment Gateway, which will further optimize the management of the client’s working capital. Furthermore, the agreement will improve the customer experience in Nesto stores and will result in co-marketing initiatives and joint campaigns, while both NBO and Nesto employees will be able to benefit from special offers as well. 

Mohammed Al Jabri, Assistant General Manager, and Head of Global Transaction Banking at National Bank of Oman, said, “Our reimagined partnership with Nesto Hypermarket enables our long-standing client to benefit from our sustainable and cutting-edge technological solutions and our Corporate Internet Banking platform.” He added, “We aim to support all our corporate clients through a range of state-of-the-art global transaction banking services. As banking is transforming at a rapid and tech-driven pace, we will keep on pushing for further improvements in our services. Hereto, we remain committed to our relentless exploration of the most innovative digital solutions that support our clients’ specialized business needs and drive progress over time.” 

Al Sayyid Khalid bin Mahfoodh bin Salim Al Busaidi, partner at Nesto Group, said, “At Nesto Hypermarket, we strive to provide our customers with the best shopping experience. As one of the leading hypermarkets in the region and rapidly growing, we are continuously looking for ways to improve our services and take our customer service to the next level. With this in mind, we have recently partnered with National Bank of Oman to provide a range of innovative digital banking solutions, which will help optimize the management of our working capital and further enhance the customer experience in our stores. We are delighted to be collaborating with such a renowned financial institution and look forward to the many benefits that this agreement will bring.” 

As a large corporate, Nesto will benefit from its digital shift in many ways and  from using the cutting-edge Corporate Internet Banking (CIB) platform in particular. The CIB platform takes care of all types of payments, including local and international transfers, foreign currency payments, and bill payments, while it provides a vendor and salary file upload service, as well as other supporting online services. Meanwhile, the Direct Debit solution helps Nesto and other large corporates and institutions to efficiently manage the recurring collections from their customers, resulting in an improved cash flow and an efficient recovery of overdue invoices.

NBO provides a full suite of innovative and high-quality digital banking solutions that keep pace with the needs of its growing customer base including the B2B solution, and the online trade portal. More information about NBO’s accounts, products and exclusive benefits can be found on www.nbo.om, by contacting the NBO Call Centre on 24770000, by downloading the free NBO Mobile App, or by visiting any of the 60 branches located across Oman.