Paris, September 26, 2023: As part of its inauguration on the Mauritanian market with a ribbon-cutting ceremony on September 20, Algerian Union Bank selects CapitalBanker ™, the banking solutions suite from Capital Banking Solutions along with five additional modules.
Algerian Union Bank, a new player in Mauritanian territory, has taken the strategic decision to adopt the Core Banking CapitalBanker™ from Capital Banking Solutions, provider and integrator of innovative banking solutions tailored to international banks of all types.
To benefit from a perfectly customizable solution featuring open architecture and complete, simplified compliance, Algerian Union Bank has also opted for CapitalConnect ™ and CapitalCompliance ™.
In addition, the bank has strengthened its technological offering by choosing Swift Manager to manage issued and received Swift messages to comply with the new ISO 20022 regulations that will come into force starting November 2025, CapitalClearing™ to guarantee the security and transparency of every financial transaction (transfers, incoming and outgoing direct debits, cheque deposits, …) as well as the Securities Management solution to help its account managers optimize their securities portfolio and simplify the process of buying, selling and monitoring securities investments.
For Capital Banking Solutions, the opportunity to support the opening of this bank is a real honor. Thanks to our combined agility and expertise, together we succeeded in optimizing and simplifying their opening.
“We would like to thank Algerian Union Bank for choosing Capital Banking Solutions to accompany them on this new adventure. We guarantee a tailor-made collaboration to ensure their successful market entry and are proud and eager to initiate this deployment”, says Mr. Alain Klat, Group Sales & Marketing Director at Capital Banking Solutions.
About Algerian Union Bank
Algerian Union Bank is the result of the merger of four banks (BNA, BADR, BEA and CPA) to enter the Mauritanian and Senegalese markets. As of September 2023, Mauritania’s banking landscape will thus see a new bank to facilitate financial transactions between the two countries, assist public and private economic operators linked to the export of production, promote the mobilization of savings from Algerians living abroad and increase the levels of foreign currency transfers to Algeria.
About Capital Banking Solutions
For over 25 years, Capital Banking Solutions has been developing and integrating innovative banking solutions tailored to various international banks. Leveraging our expertise, extensive experience, and ongoing research and development efforts, we offer a broad range of innovative products to address the needs and challenges of the banking market and our 200 banking and financial institution clients.
We are leaders in universal banking, retail banking, corporate banking, private banking, Islamic banking, microfinance, neo-banks, family offices, and asset management and brokerage companies. Our software solutions are open architecture, modular, and available on both cloud and on-premise platforms. With 300 expert employees based in France, Switzerland, Lebanon, Ivory Coast, and the USA, we ensure seamless product support, services, and a close relationship with all our clients.
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