Capital Banking Solutions, an end-to-end global banking platform, has landed a $5m investment.
Lebanese business development organisation BeryTech made the investment through its Berytech Fund II, a $51m venture capital fund backed by a number of Lebanese banks.
Headquartered in New York, but with offices in Beirut and Dubai, Capital Banking Solutions provides software for retail, corporate and private banks in Europe, Africa, the Middle East and the Americas.
It provides an end-to-end global banking platform, which enables banks to ‘drive change’ for their business and transform the way they serve their customers. CBS’s objective is to allow customers to continuously improve their performance and compete with other players on the market. The firm’s clients’ roster includes such as Lebanon’s Bank Audi, Al-Khaliji Bank in the UAE and the Bank of Africa.
Samer Hanna, chairman and CEO of Capital Banking Solutions, said: “CBS offers a full suite of innovative software solutions to the financial services industry. Our rapid growth driven by our simple yet powerful banking products reaches more than 250 banks and financial institutions spread over 60 countries.
“The extensive banking expertise of our more than 250 professionals serves clients from our offices in Beirut, Paris, Monaco, Geneva, New York, Miami and Abidjan, with Universal Conventional and Islamic Banking, Private Banking and Wealth Management, Digital Engagement and Compliance solutions.”
CBS’s product portfolio consists of CapitalBanker, which optimises core banking services, boosting operational efficiency and empowering institutions to grow in today’s digital world.
Its portfolio also includes CapitalPrivate, an integrated solution that addresses the needs of the Private Banking and Wealth Management space, CapitalCompliance, which helps prevent financial crime, mitigate risks, ensure compliance, and address regulatory and financial reporting, and CapitalDigital, a digital banking solution empowering customers to bank in their own terms, where, when and how they want.
Maroun Chammas, chairman of Berytech Fund II, added: “CBS is giving Lebanon the opportunity to play a leading role in shaping the future of financial and monetary systems through innovation. And we, at Berytech, understand this subject all too well since we have been supporting innovative companies to scale up for over 16 years, with the goal to shape the tech and innovation scene in the region using Lebanon as our launch pad.”
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
