Insight
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 universal cloud-ready core banking system has been designed and built for bankers by bankers. Capital Banker™ encapsulates the retail, corporate, private and islamic core banking processes and supports the banks to focus on their core competencies, create a competitive advantage and achieve anticipated growth.

CapitalDigital™ empowers the banks customer to bank on their own terms: where, when and how they want, making it possible to move fluidly and safely between channels, devices and time.

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

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

The Director General of Sumer Bank, Mr. Fouad Hamza said: “Our partnership with Capital Banking Solutions dates since 2015, we are confident in our continuous collaboration with the Group to keep servicing our clients up to the latest technologies that meet their needs.”

The Regional Sales Director, Middle East – Capital Banking Solutions, Mr. Georges Ghaoui added: “We are delighted with the continuous collaboration and trust 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 bringing innovative, comprehensive solutions. CBS is currently servicing more than 25 Iraqi retail, commercial and islamic banks to cater to the changing needs of the banking and Payment industry.”

About Sumer Commercial Bank

Sumer Commercial Bank Company (PSC) was incorporated in 26/5/1999 as a private joint-stock with a nominal fully paid capital of (400) Million Iraqi Dinar, pursuant to the provisions of the Central Bank of Iraq No. (64) of 1969 as amended and the provisions of Companies Law No. (21) of 1997. On 4/11/1999 the bank was licensed by the Central Bank of Iraq to provide banking services under the No. S.A/10/9/1124 and started its activities on 3/1/2000. During the last five years the bank increased its paid-up capital to reach 250,000,000,000 Iraqi Dinar (Two Hundred Fifty Billion).  Currently the Bank is operating (8) Branches, 5 in Baghdad, 1 in Erbil, 1 in Basra and 1 in Najaf.

 

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