Capital Bank Wins 'Best Implementation of Core Banking Services' Award from IBS Intelligence

Capital Bank received the "Best Implementation of Core Banking Services" award from IBS Intelligence in 2023, marking a significant achievement in their year. This accolade, presented by IBS Intelligence based in the UK, recognizes Capital Bank's excellence and innovation in the banking sector.

The award specifically highlights how Capital Bank utilized Temenos' core banking solutions to launch a transformative project aimed at upgrading its core banking system. This strategic move aligns with the bank's vision for expansion and its ambitious growth plans.

Over recent years, Capital Bank successfully executed three major core banking projects, each significantly impacting the bank's performance within remarkably short timeframes. Notably, the smooth launch of the National Bank of Iraq's branch in Saudi Arabia within just 45 days enabled an enhanced banking experience for customers.

Additionally, Capital Bank streamlined operations through the acquisition of Jordan's Bank Audi, strengthening its presence in the Jordanian market and improving operational efficiency. The bank also effectively managed the challenges of merging with Société Générale - Jordan, ensuring a seamless transition and consistent experience for customers.

The core banking solutions contributed to Capital Bank's achievements, elevating operational efficiency. This translated into significant cost savings and operational flexibility, and operations efficiency directly benefiting customers with faster and more accurate transaction processing and immediate service requests, ultimately enhancing customer retention rates.

Izzidin Abusalameh, Capital Bank Group's Chief Operations Officer, stated, "We take pride in receiving this prestigious award from IBS Intelligence, a testament to our commitment to continuous innovation and operational excellence. Our partnership with Temenos has not only provided us with an advanced technological platform but has also facilitated a culture of flexibility and adaptability, enabling us to execute our ambitious growth plans. This has allowed us to smoothly integrate acquisition operations, expand into new markets, continuously enhance our service offerings, and now we're in an ideal position to leverage future opportunities and deliver greater value to our customers and stakeholders."