Client Situation

Our client is a prominent Islamic bank in Oman, having an asset size of USD 2.6 Billion. The bank offers an entire portfolio of commercial banking services across personal banking, business banking, SME banking and markets and investments in accordance with the license issued by the Central Bank of Oman. It currently has 14 branches across Oman and has significant plans to expand its branch and digital presence across channels and segments.

Cedar’s Approach

The client had mandated Cedar to review its existing digital architecture, the market best practices, trends, and spends for digitisation and develop a digital way forward roadmap for the bank.

  • Conducted a current state assessment of the existing digital capabilities and architecture of the bank through interviews and data collection through a series of over 15 interviews.
  • Reviewed internal business case developed for purchase of key digital platforms.
  • Conducted primary and secondary research on regional and global digital banking trends.
  • Interviewed internal stakeholders to review the data findings and identify areas to align with the bank's business strategy.
  • Peer review of the digital offerings of the bank with other local, regional and international banks across over 10 banks in the region.


The program resulted in a detailed analysis of the current state and the potential way forward for the bank. The results included

  • Current state digital banking readiness across six key areas: Customer Experience, Digital Onboarding, Product Convergence, Process Fulfilment, Channel Adoption and Technology.
  • Competitive analysis for key players in the market, the spends, the initiatives that were undertaken and the governance approach adopted across 5 leading banks in the region.
  • Digital Bank operating model to be adopted by the bank.
  • Identified 25+ initiatives across digital banking.
  • Prioritised the Retail and Corporate Banking digital initiatives to be undertaken over the next few years.
  • Business case with a cost-benefit analysis for undertaking the different initiatives.
  • Implementation roadmap for each initiative of the 25+ initiatives identified.
  • We made strategy and innovation work.

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