Banking 10:42 am
NNTC, a UAE-based software developer and solutions provider, today announced the successful implementation of its biometric user onboarding module with
Oman Arab Bank (OAB), a pioneer in the local banking sector. NNTC s AI-powered module, iFalcon KYC Control, facilitates swift, frictionless and secure digital customer onboarding. Any Omani citizen or resident can now open an account through the OAB Online App in under five minutes without needing to visit a branch office, fill out tedious reams of paperwork, wait in long queues or experience delayed onboarding times.
Digital alternatives to in-person onboarding can help banks circumvent substantial losses. According to recent research[1], banks can potentially lose USD 22.75 billion due to slow onboarding processes more than 35% of bank customers move to competitors due to poor experiences in onboarding. Banks leveraging traditional models and manual processes can take somewhere between 2 to 34 weeks to on