Arun ShankarBank Muscat, the flagship financial services provider in the Sultanate of Oman, and SAS have been awarded for Best Data Analytics Initiative, Application or Programme in the Middle East for 2018 at The Asian Banker Middle East and Africa Awards Programme.
Bank Muscat engaged SAS to implement customer relationship management, channel integration for their growing business demands. The bank integrated multiple customer data touch points with the SAS Marketing Automation analytics engine to analyse the customer behavior in cross-sell offers, digital offers and promotions. This involves multichannel integration, including mobile banking, internet banking, automated teller machine, cash deposit machine, SMS and emails.
Bank Muscat’s implementation of the system allowed for greater customer scalability. The increase in customer reach through scalable solution implementation is helping the bank to increase the cross-sell revenue. In addition, the project improved operational efficiencies, increased lead conversion, and enhanced real time access to customer data, enabling personalised product offering for higher cross-sell.
It also allowed the analytics system to act immediately on data such as customer transactions, eChannel activity, and branch to generate relevant cross-sell offers for the sales team. Transactional data was also used to generate trigger-based events and alerts for other business teams to act accordingly.
Commenting on their win, Abdullah Tamman Al Mashani, DGM Institutional Sales and Product Development, Bank Muscat, said, “We are proud to be recognised among the banking fraternity for our innovation-driven strategic initiatives. Our commitment to customers is key to providing industry-leading services and setting new benchmarks in banking excellence, in line with our vision and values. We chose SAS as our trusted partner on our journey to offer innovative services and products to our customers and stakeholders.”
Abed Hamandi, Regional Director Professional Services, Middle East and Africa at SAS, said, “Today, customer experience is taking center stage and price is no longer the only determining competitive advantage of an organisation. Bank Muscat and SAS, both believe that the key to ensuring customer satisfaction is capitalising on data and analytics. Our strategic partnership is built on the approach of delivering data-driven customer intelligence that can optimise marketing efforts and result in authentic customer engagement.”
“Therefore, we are honoured to receive this prestigious award for this significant project, together with our most valued partner, Bank Muscat. SAS will continue to help partners and customers with intelligent analysis of data, enabling them to proactively foresee marketing trends, behaviours, and create a competitive edge to lead the market in the new digital era.”
Bank Muscat is a financial services provider in Oman with a presence in Corporate Banking, Retail Banking, Investment Banking, Islamic Banking, Treasury, Private Banking and Asset Management. The Bank has the largest network of 149 branches, 645 ATMs and CDMs, and more than 18,000 PoS terminals. The international operations include Riyadh, Kuwait, Dubai, Singapore and Iran.
Key takeaways
- Bank Muscat engaged SAS to implement CRM channel integration for growing business demands.
- The bank integrated customer touch points using SAS Marketing Automation to analyse cross-sell offers and promotions.
- Includes mobile banking, Internet banking, ATM, cash deposit, SMS, emails.
- Increase in customer reach through scalable solution implementation is helping the bank increase cross-sell revenue.
- The project improved operational efficiencies, lead conversion, real-time access to customer data, personalised product offering.
- Allowed analytics system to act on data to generate relevant cross-sell offers for the sales team.
- Transactional data used to generate trigger-based events and alerts.
