Capital Banking Solutions, a provider of end-to-end banking software for retail, corporate, private and Islamic banks, has announced that Sumer Commercial Bank has selected CapitalBanker as its core banking system to be implemented in over 10 branches throughout 2014.
With Sumer Commercial Bank as the 5th Iraqi bank to sign with Capital Banking Solutions, Capital Banking is now a front-runner in the local market.
The agreement was facilitated by Middle East Systems and Software Company (MESSC), Capital Banking Solutions’ Iraqi partner and distributor specializing in the implementation of IT solutions for Banking and Financial Services.
Mr. Ahmad F. J. Al-Mukhtar, CEO of MESSC, said:
“With Sumer Commercial Bank’s growth plans to open up two new branches it was essential they had a solution that would empower them to be more flexible and efficient.
“Having implemented CapitalBanker at several banks, we felt that the robust product in combination with our local expertise, was the ideal solution to enable Sumer Commercial Bank to meet their business goals.”
Mr. Fouad Hamza Al-Saeed, General Manager at Sumer Commercial Bank, said:
“Servicing over 10,000 investment banking clients, our goal is to centralize information about the customer and continue to evolve our services in accordance with new banking advancements and standards such as internet banking, mobile banking and government regulations.
“With limited resources it was important to replace our internal system with one proven in the Iraqi market. By deploying CapitalBanker in June 2014, we will gain a fully hosted, flexible solution with end-to-end bank automation capabilities, reduce operational costs by eliminating manual processes, and mitigate risk by keeping current with government regulations.”
(Source: Capital Banking Solutions)
(Banking image via Shutterstock)