Oman Arab Bank (OAB) has deployed near field communications (NFC) contactless card-reading technology to enable faster ATM transactions.

The lender has tapped NCR’s technology to introduce the new initiatives, the first in the country. The introduction of NFC technology is expected to make transactions 15% faster and more secure.

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OAB retail banking GM Fahd Bin Amjad said: “Differentiating through innovative and seamless banking services for our customers remains a key strategy for us. Being the first to introduce NFC technology in the country reiterates our commitment.

“We see correlations between innovative services and improved customer satisfaction scores, so we’ve partnered with NCR because of its track record delivering exceptional ATM experiences.”

OAB will utilise NCR’s ATM software to introduce a new ‘favourite transaction’ personalisation feature. It will enable the customers to tag specific transactions as favourites and then carry out the same swiftly.

NCR Banking area vice president for Saudi and Gulf Hussam Zahdeh said: “NCR is strategically positioned to help our customers compete in the evolving digital world and we are thrilled to work with OAB as it introduces NFC technology in Oman to create exceptional banking experiences for its customers.

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“By deploying Activate, OAB is taking a big step towards bridging the physical and digital world to enable future growth strategies and transform transactions into interactions that matter.”

Recently, OAB started using NCR’s Activate software. It integrates the bank’s self-service channel with its remaining digital domain.