Seven-figure contract value

The Leonberg-based information logistics company has been appointed by the Commercial Bank of Syria (CBS), Damascus, Syria, to implement a turnkey solution for banking automation. The project has a seven-figure contract value and will run for 3 years. It will cover the installing of software and hardware, as well as the setting up of a network which will link the 46 CBS branches. The project signals a pioneering role for the Commercial Bank of Syria in its own country. It will be the first Syrian financial institute to introduce banking automation.

By using automated operating sequences, the Commercial Bank of Syria will simplify and speed up its information and financial transaction processes. At the same time the CBS will gain access to the automated processes of international payment transactions. Caatoosees first step in the pilot phase of the project will be to equip the banks headquarters in Damascus as well as three other branches with hardware and software. Following this, all remaining CBS branches will gradually be given access to the CBS network. IT and banking experts will provide client support directly from a newly-opened Damascus office. Here caatoosee will also draw on the expertise of its subsidiary company PT Sigma Cipta Caraka. The caatoosee group owns 51% of the company. Misys Plc, London will also be involved in the project as subcontractor. It will provide the Equation software package, which the caatoosee project team will then adapt to the specific requirements of CBS.