Sumer Commercial Bank selects Capital Banking Solutions for its core and digital banking solutions.

Paris, France – August 23, 2022 – Sumer Commercial Bank is modernizing its banking platform and strengthening its relationship with Capital Banking Solutions by selecting its new core banking system and digital platform.

CapitalBanker™ the cloud-ready universal core banking system was designed and built for bankers by bankers. Capital Banker™ encapsulates retail, corporate, private and Islamic banking processes and helps banks focus on their core competencies, create competitive advantage and achieve anticipated growth.

CapitalDigital™ allows the bank customer to bet on their own terms: where, when and how they want, allowing them to move smoothly and securely between channels, devices and time.

Sumer Commercial Bank has also extended its CapitalCompliance™ platform to include GoAML and CRS to cover compliance and tax evasion requirements as per Central Bank of Iraq regulations.

Sumer Commercial Bank will also implement CapitalConnect™which provides access to a host of open banking APIs, allowing third-party vendors to connect real-time data to Sumer Core System.

Sumer Bank’s Managing Director, Mr. Fouad Hamza said: “Our partnership with Capital Banking Solutions dates back to 2015, we are confident in our continued collaboration with the Group to continue serving our customers up to the latest technologies that meet their needs. needs.

Regional Sales Manager, Middle East – Capital Banking Solutions, Mr. Georges Ghaoui added, “We are delighted with the continued collaboration and confidence of our client Sumer Commercial Bank in CBS’ portfolio of products and services. . The company has over 25 years of international presence and local banking expertise in providing innovative and comprehensive solutions. CBS currently serves more than 25 Iraqi retail, commercial and Islamic banks to meet the changing needs of the banking and payments industry.

About Sumer Commercial Bank

Sumer Commercial Bank Company (PSC) was incorporated on 26/5/1999 as a private joint-stock company with a fully paid nominal capital of (400) million Iraqi dinars, in accordance with the provisions of the Central Bank of Iraq no. (64) of 1969 as amended and the provisions of Companies Act No. (21) of 1997.

On 4/11/1999, the bank was authorized by the Central Bank of Iraq to provide banking services under the number SA/10/9/1124 and started its activities on 3/1/2000.

Over the past five years, the bank has increased its paid-in capital to 250,000,000,000 Iraqi dinars (two hundred and fifty billion). Currently, the Bank operates (8) branches, 5 in Baghdad, 1 in Erbil, 1 in Basra and 1 in Najaf.

About Capital Banking Solutions

Capital Banking Solutions is a leading provider of global banking platforms that enables banks to drive change for their business and transform the way they serve their customers. The goal is to enable customers to continuously improve their performance and compete with other players in the market.

www.capital-banking.com

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For information,

Jenny Bedran, Marketing Specialist

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