The National Bank of Oman (NBO) has launched a new service to provide its business clients with a full range of banking services over the internet. Remote Corporate Banking (RCB) will enable customers to access several facilities, including letters of credit (L/Cs), from a remote computer.

Customers using RCB will be able to transfer funds between accounts, view account balances, extract transaction history, print statements and access information up to the last 18 months related to their accounts.

Security

The system can also be used to order demand drafts, make telegraphic transfers and make payments to non-NBO accounts. Salary processing information can also be relayed through this channel. Guarantees and L/Cs can also be organised through RCB.

The bank says it has ensured that security features are built into the system. Data transfer is filtered through a 128-bit encryption code, which according to NBO makes data transfer secure. Each time a transaction is put through, the system generates an audit trail indicating the identity and the log on times of the user.

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