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Capital Banking Solutions Takes a Leading Position in Iraq With Signing of Sumer Commercial Bank

NEW YORK, NY -- (Marketwired) -- 02/11/14 -- Capital Banking Solutions, a provider of end-to-end banking software for retail, corporate, private and Islamic banks, today announced that Sumer Commercial Bank has selected CapitalBanker as its core banking system to be implemented in over 10 branches throughout 2014. With Sumer Commercial Bank as the 5th Iraqi bank to sign with Capital Banking Solutions, Capital Banking is now a front-runner in the local market.

The agreement was facilitated by Middle East Systems and Software Company (MESSC), Capital Banking Solutions' Iraqi partner and distributor specializing in the implementation of IT solutions for Banking and Financial Services. "With Sumer Commercial Bank's growth plans to open up two new branches it was essential they had a solution that would empower them to be more flexible and efficient," said Mr. Ahmad F. J. Al-Mukhtar, CEO of MESSC. "Having implemented CapitalBanker at several banks, we felt that the robust product in combination with our local expertise, was the ideal solution to enable Sumer Commercial Bank to meet their business goals."

"Servicing over 10,000 investment banking clients, our goal is to centralize information about the customer and continue to evolve our services in accordance with new banking advancements and standards such as internet banking, mobile banking and government regulations," said Mr. Fouad Hamza Al-Saeed, General Manager at Sumer Commercial Bank. "With limited resources it was important to replace our internal system with one proven in the Iraqi market. By deploying CapitalBanker in June 2014, we will gain a fully hosted, flexible solution with end-to-end bank automation capabilities, reduce operational costs by eliminating manual processes, and mitigate risk by keeping current with government regulations."

About Capital Banking Solutions
Capital Banking Solutions is a leading provider of end-to-end, integrated banking software for businesses across Europe, Africa, the Middle East and the Americas. The company established a partnership with MESSC in 2008, transferring the technical and banking skills to their local team in order to best serve the local market in a cost-effective way. The company offers a suite of products for Core Banking, Portfolio Management, BI, CRM, Compliance and Mobile Banking. Capital Banking Solutions combines its rich, 25-year history of banking expertise with innovative, proven software to deliver full service solutions to over 200 customers worldwide. For more information, please visit http://www.capital-banking.com.

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