Overview

The project involved Capital Bank of Jordan’s strategic initiative to enhance and expand its corporate banking operations across the Middle East through acquisitions, necessitating the transformation of their existing systems. By implementing Finastra’s Trade Innovation and Corporate Channels solutions, the bank successfully automated transaction processing, integrated with key third-party systems, and created a powerful digital corporate banking platform. This initiative significantly improved operational efficiency, increased the use of digital channels, and contributed to remarkable growth in assets and accounts, positioning Capital Bank of Jordan as a leading player in the region’s corporate banking landscape.

Implementation Process

During the implementation process, Capital Bank of Jordan collaborated closely with Finastra and its partner, IBC Solutions. The project focused on replacing legacy systems with Finastra’s Trade Innovation and Corporate Channels solutions, aiming to streamline transaction processing and enhance user experiences. With rigorous quality assurance provided by Finastra through the Assure program, the implementation was efficiently executed in under six months. This collaborative effort ensured that the solutions were configured for optimal performance, enabling Capital Bank of Jordan to achieve its goals swiftly and seamlessly.

Benefits Achieved

• Improved Operational Efficiency: Automation of transaction processing reduced manual efforts, leading to faster and more cost-effective operations.
• Enhanced User Experience: The digital banking platform provided customers with real-time transaction tracking and a seamless experience, increasing customer satisfaction.
• Straight-Through Processing (STP): Over 95% of transactions achieved STP, further improving efficiency and reducing processing times.
• Rapid Growth: The bank experienced substantial growth in net assets and net operating income while attracting over 1,700 new corporate banking customers within a year.
• Increased Digital Adoption: The use of digital channels by customers grew by 80%, showcasing the popularity of digital banking services.
• Competitive Edge: Capital Bank of Jordan positioned itself as a leading corporate banking institution in the Middle East, boosting its market competitiveness.

Conclusion

In conclusion, Capital Bank of Jordan’s strategic partnership with Finastra and the successful implementation of Trade Innovation and Corporate Channels solutions have not only empowered the bank to efficiently scale its corporate banking operations but have also revolutionized its customer service capabilities. With improved operational efficiency, a seamless digital experience, and substantial growth in assets and customer base, Capital Bank of Jordan has solidified its position as a formidable player in the Middle East’s

Key Facts

Bank Name: Capital Bank of Jordan
Bank Founded In: 1995
Bank HQ: Jordan
Vendor Name: Finastra
Solution Implemented: Trade Innovation
Timeline: NA