CIH Bank goes live on Finastra corporate banking solutions
Morocco-based CIH Bank has gone live on Finastra’s Fusion Corporate Channels and Fusion Trade Innovation systems.
Finastra says the implementation was completed remotely
According to Finastra the bank aims to digitise its end-to-end corporate banking services. It claims the new platforms will automate CIH Bank’s trade and supply chain services.
Founded in 1920, CIH Bank initially focuses on finance real estate, before adding products for retail and corporate banking.
The lender has a balance sheet of around $8 billion. It reported a net income of $46 million in 2019.
“CIH Bank has strong links with the business community in Morocco,” says Oussame Tazi, a director at CIH Bank.
“By digitalising our corporate services, we’re making sure that these customers are receiving the best service possible, from the comfort of their homes or offices.”
He adds: “The ongoing pandemic made the requirement for this transition even more apparent as we needed to remove every manual step from the banking process and ensure business continuity for our customers.”
CIH Bank worked with the Finastra Services team to remotely implement the software using the vendor’s Fusion Adopt programme.
“Teams from CIH Bank and Finastra worked closely together to implement close to 70% of the project remotely,” says Serge Tohme, managing director for MENA and Turkey at Finastra.
