CASE STUDY
“ We selected Trade Innovation as our end-to-end working capital management solution because it could meet our needs for greater system integration and automation ,” continues Abusalameh .
“ We were impressed with the intuitive user experience of Finastra ’ s Corporate Channels , both for employees and for our clients . It was clear that the Finastra solutions could help us build a scalable digital corporate banking platform .”
With Finastra providing quality assurance support through the Assure programme at key milestones , Capital Bank of Jordan and IBC Solutions were able to verify that the solutions were configured to deliver performance and reliability .
“ We all worked together as a single team ,” continues Hayek .
Business benefits
From left to right : Izzidin Abusalameh , Group COO , Capital Bank of Jordan , Jihad Matar , Head of Cash Management , Treasury and Investment Operations , Capital Bank of Jordan and Samar Hayek , Senior Project Manager , Capital Bank of Jordan
With SWIFT messaging and automatic commission calculation capabilities built into Trade Innovation , Capital Bank of Jordan could eliminate manual processes and achieve straight-through processing for almost all transactions .
“ Trade Innovation and Corporate Channels made life so much easier for our employees ,” explains Matar .
“ Today , they can log into the system and gain instant visibility into all transactions . They can see clearly what additional actions they need to take to support customers – whether that is managing bulk payments or adding new services to their accounts .”
Trusted partner
Since then , Capital Bank has onboarded 1,700 + new corporate banking customers in just one year and achieves a straight-through processing rate of 95 % for all transactions , supporting rapid service .
Since launching the new digital banking platform for its corporate customers , Capital Bank of Jordan has increased the use of digital channels by 80 %, demonstrating the popularity of digital banking among its customer base .
As well as streamlining back-end trade and cash management activities with automation , Finastra solutions have helped to deliver a simple , intuitive and powerful suite of digital banking capabilities for corporate customers .
Capital Bank of Jordan completed the transition to Finastra ’ s Corporate Channels and Trade Innovation in under 6 months .
To achieve a rapid implementation and ensure best practices , Capital Bank of Jordan teamed up with Finastra ’ s business partner IBC Solutions to build a new digital corporate banking platform from the ground up .
Samar Hayek , Senior Project Manager at Capital Bank of Jordan , comments , “ IBC Solutions was recommended by Finastra . Their team offered expert advice and helped us to deploy the Finastra solution at two entities in parallel .”
Customers can service their accounts at any time and track their transactions in real-time . This helps to improve customer experience , increase market share , and enhance competitiveness .
By expanding its operations through acquisition and evolving its treasury operations with Finastra solutions , Capital Bank of Jordan is benefiting from its growth . Between 2021 and 2022 , the bank increased its net assets by 61 %, and boosted net operating income by 42 %.
“ We are pleased with the success we have achieved so far by growing our business and enhancing our treasury activities with Finastra ,” summarizes Abusalameh . p
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