Capital Bank goes live with Finastra to scale up corporate banking

By Gloria Methri

Capital Bank, one of the leading financial institutions with commercial and investment banking expertise, has gone live with Finastra’s Corporate Channels. It will soon follow with Trade Innovation as well as other Corporate Channels modules.

The combined offering will help Capital Bank to streamline its services for corporates in Jordan, Iraq, and Saudi Arabia.

Once fully implemented, the solutions will enable the bank to digitalize manual tasks, process lending operations quicker and at a lower cost, and offer its customers a single platform for all corporate features. IBC Consult, a provider of banking services in the MENA region, is handling the implementation of the solutions.

“We chose Finastra due to its premium interfaces, seamless integrations with SWIFT and our internal systems, as well as its fast bulk payment functionality,” said Izzidin Abusalameh, Group COO at Capital Bank. “IBC Consult was also extremely quick to adapt to our demands in the implementation of the solutions. We are delighted with this digital transformation journey and the benefits it will ultimately yield for our customers.”

Corporate Channels is a digital banking platform that delivers a single, intuitive portal to unify trade, cash, supply chain finance, lending, and treasury services for corporate clients. Trade Innovation is an end-to-end solution for frictionless trade and supply chain finance.

The trade services platform uses straight-through processing, digitalization, and data analytics to enable intelligent trade for growth, and the ability to evolve with compliance, customer, and competitive demands.

“As one of the largest banking institutions in Jordan, with a presence in Iraq and Saudi Arabia, Capital Bank offers a broad range of commercial and investment banking solutions tailored to corporates’ needs,” said Kamal El Khoury, Managing Director, MENAT Lending at Finastra. “Our solutions will help the bank to enhance and streamline its offering, giving its customers access to services such as account balance and statements visibility, transfers between accounts and other beneficiaries, all through a single platform. It has been exciting to work with Capital Bank as it continues to demonstrate success in the region.”