NEW YORK, NY -- (Marketwired) -- 08/29/13 -- Capital Banking Solutions, provider of integrated banking solutions for retail, corporate and private banks, as well as financial institutions, today announced it has signed a 5-year agreement with Bank Audi sal - Audi Saradar Group (Bank Audi), one of the top regional banking institutions operating out of the Middle East and present in countries including Lebanon, Switzerland, France, Egypt, Saudi Arabia, Monaco and Turkey.
Capital Banking Solutions will provide software solutions to support Bank Audi's full range of products and services, in addition to being established as Bank Audi's outsourced technology partner. Under the terms of the agreement, Bank Audi is granted an Enterprise License Agreement to use Capital Banking Solutions product portfolio for core banking, business intelligence, compliance, customer relationship management, portfolio management, and multi-channel support including internet and mobile banking. "We are excited about this relationship with Capital Banking Solutions, which allows us to further diversify our portfolio with new value-added products and services while optimizing our IT investments and reducing overall costs," said Tamer M. Ghazaleh, Deputy CFO, Bank Audi.
Danny Dagher, Group CIO, Bank Audi, said, "At Bank Audi, it is essential that our IT strategy supports our business growth. With over 150 branches across 12 countries, we are able to leverage the strength of the Capital Banking Solutions' platform, CapitalBanker, to expand easily. CapitalBanker's design empowers us to open new branches in record time, gaining a single solution across the bank, across branches and across countries."
"At Capital Banking Solutions we have over 200 experienced bankers and technologists servicing our customers," said Nicolas Jabbour, CEO, Capital Banking Solutions. "This exciting partnership with Bank Audi allows us to do what we do best -- offer banking and technology guidance, vision and innovation to help align Bank Audi's technology direction with their aggressive business goals."
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 offers a suite of integrated and modular products for retail, corporate and private banks, as well as financial institutions. Capital Banking Solutions combines its rich, 20-year history of banking expertise with innovative, proven software and a comprehensive portfolio of professional services, to deliver full service solutions to over 200 customers worldwide. For more information, please visit http://www.capital-banking.com.
About Bank Audi sal - Audi Saradar Group
Bank Audi is a regional group with a universal banking profile and is a 37.5% shareholder in Capital Banking Solutions. The Bank offers universal financial products and services including Corporate, Commercial, Individual, Investment and Private Banking services. As at end-June 2013, Bank Audi's consolidated assets reached USD 33.7 billion, principally driven by customers' deposits of USD 29.2 billion, with shareholders' equity reaching USD 2.7 billion. Bank Audi's group staff headcount exceeds 5,200 employees and its shareholders' base encompasses more than 2,500 holders of common shares and/or holders of Global Depositary Receipts (GDRs) representing common shares. Bank Audi ranks first among Lebanese banks and is positioned in the inner circle of top regional banking groups. Its shares are listed on the Beirut Stock Exchange. Its GDRs are listed on both the Beirut Stock Exchange and the London Stock Exchange. For more information, please visit http://www.banqueaudi.com.
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