Two Raiffeisenlandes banks Go Live with Intellect’s Digital Trade Finance Solution

iGTB’s single implementation enables both Raiffeisenlandes bank Niederösterreich-Wien and Raiffeisen-Landes bank Steiermark to transform their end-to-end trade finance operations and intercept continuing business and market demands

London (UK), July 29 2019: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the fastest growing Fintech product company with the CAGR of more than 24% over past four years, has implemented iGTB’s SWIFT certified, Digital Trade Finance platform for Raiffeisenlandesbank Niederösterreich-Wien AG and Raiffeisen-Landesbank Steiermark AG. iGTB has helped to centralise trade finance IT operations across the Raiffeisen Sector with a single instance implementation of the solution based on a single source code.

Austria, with its highly developed banking sector, provides a well-connected banking network that consists of nearly 600 banks, making it one of the densest in Europe. Regulator Oesterreichische Nationalbank has encouraged digitalisation. Now, Raiffeisen, Austria’s leading group of banks, is doubling down on digitisation by providing innovative customer-centric solutions.

Following Raiffeisen Bank International, Raiffeisenlandesbank Niederösterreich-Wien and Raiffeisen Landesbank Steiermark – both ranking in the top ten Austrian commercial banks –can now offer higher STP rates for incoming trade finance SWIFT messages, automate correspondence, provide letters of credit, documentary collections and guarantee commitments online and provide periodic charging and settlement options for customer accounts. The iGTB’s Digital Trade Finance platform will increase operational efficiency by automating even complex (yet mission-critical) functions such as third-party three-layer letter of credit and guarantee transactions and accounting entry processing through respective core applications. Business processing operations for multiple trade finance functions like refund of charges and routing of payments transactions are also automated.

Mr. Felix Mayr, Head of Transaction Banking, Raiffeisenlandesbank Niederösterreich-Wien AG said: “Going live with iGTB’s Digital Trade Finance platform is an important step for our customers and our bank. iGTB’s technology helps us to harmonize the trade finance processes across the Raiffeisen Sector and will thus reduce complexity and overall costs. The platform is flexible enough to accommodate customer demands of all kinds and we are very excited about the implementation of the new digital customer front-end attached to iGTB’s Digital Trade Finance back-end solution.”

Mr. Hannes Meixner, Head of Trade Finance, Raiffeisen-Landesbank Steiermark AG said: “We will be able to deliver a scalable and automated trade finance solution that removes bottlenecks for our clients both domestic and international and enables their sales with minimal cross-border issues. We are convinced that iGTB’s Digital Trade Finance platform has helped us to strengthen our current offering in the market.”

Manish Maakan, CEO of iGTB said: “iGTB’s Digital Trade Finance platform is ready for the next generation of banking, and is bringing an efficient way for risk management and reduced operational risk for the bank. Our product seamlessly integrates with the bank’s existing systems – more than 10 interfaces are operational – maximising the automation of processes like accounting entries in core, using the payment and posting interfaces. In total, we have implemented 65 user journeys in trade finance business for the Austrian Raiffeisen Sector. With other three regional Raiffeisenlandesbanks expected to go live by November 2019, Raiffeisen will be further enabled by a single Digital Trade Finance platform, enabling them to deliver consistent, superior customer experience across the whole country.”

About Intellect Design Arena Limited

Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking, Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets, and Insurance. With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of USD 208 million, serving over 240 customers through offices in 91 countries and with a diverse workforce of solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit www.intellectdesign.com

For Media related info, Americas and Europe:

Zoe Fowke
Intellect Design Arena Ltd
Mob: +44 0207 5169461
Email: zoe.fowke@intellectdesign.com

For Media related info, rest of the world:

Nachu Nagappan
Intellect Design Arena Ltd
Mob: +91 89396 19676
Email: nachu.nagappan@intellectdesign.com

Banks learn how to profit from the transaction banking gold rush at annual iGTB Oxford School

Third iGTB Oxford School of Transaction Banking confirms the opportunity but highlights key pitfalls.clients

Oxford, England, 05 March 2018: Roll up for the transaction banking gold rush!” was the rallying cry as 60 senior transaction bankers from across the globe convened for the annual iGTB Oxford School of Transaction Banking, hosted by corporate banking technology specialist Intellect Global Transaction Banking (iGTB). The continued acceleration of digital transformation was high on the agenda, and, with the world’s financing gap currently estimated at US$1.5 trillion, speakers and attendees alike sensed that corporate demand and banks’ ability to supply are on the cusp of peaking at the same time. But the many practical case studies and the taught Maturity Model highlighted key elements that need to be executed to achieve the results.

Following on from last year’s event, the course’s special curriculum, design by Andrew England, Strategy Director, iGTB – whose aim is to teach “how to run a successful and profitable transaction banking franchise” –  found itself oversubscribed once again. And the lucky few that were able to attend returned excellent feedback.  “The School imparts a huge amount of practical knowledge for banking professionals looking to build a successful transaction banking franchise,” says David Salter, Head of Structured Trade Finance Products at RBS.

This year, the event was again led by Ted Roosevelt Malloch, CEO, The Roosevelt Group and unearthed a number of practical considerations for banks looking to capitalize on the opportunity. A key consideration was identifying and addressing the challenges and limitations surrounding digital transformation – with new obstacles emerging at the same rate as new capabilities. These included being aware of hurdles that come with transitioning to fully-fledged product management organisations, being cognizant of internal culture and business decision-making processes, as well as understanding how to “fail fast” in order to innovate quicker. The need to work more closely with – and learn from – retail banking partners was another dominant theme, as was a reinforcement of the key mantra of client-centricity.

Kamal Shurbaji, Head of Corporate, Gulf Bank commented:  “The time spent at Oxford surrounded by bankers from all over the world as well as contributors and presenters with impressive and relevant experience had an incredible value in providing real cases based on real experiences with real results.” In addition to the course curriculum and activities, a host of high-profile speakers addressed those in attendance, for example Lord Stephen Green, former Chairman and CEO of HSBC Group, provided a whirlwind tour of geopolitics and economic realities across the world, outlining both risks and rewards on the immediate horizon – with a particular focus on the role of bankers in global trade flows.

With insights from industry veterans, the course enabled participants to test their own models in practical exercises using “Design Thinking” principles. These provided optimal solutions to key transaction banking challenges, while the overall course also shed light on how the industry is impacted by factors such as marketing, digitalisation, innovation, economics, and executive attitudes.

Manish Maakan, CEO of iGTB, Intellect Design Arena said: “Once again, we have received overwhelmingly positive feedback from this year’s attendees, rating every session at an average 88%, and who are now swelling the growing, powerful and active alumnus group who support each other in their endeavours.  As we continue to enhance and refine the course content, and gather some of the most respected figures in the industry under one roof. Transaction banking is a core banking service – and one that has never been more relevant. Our curriculum is designed to enable banking professionals to realize the potential in their organizations. We want to continue raising the profile of this business, and we are already looking ahead to next year’s event starting on 3 April 2019, again in Oxford.”

One participant and speaker, Lisa Lansdowne-Higgins, Vice President, Business Deposits and Treasury Solutions, Royal Bank of Canada, summed up the exhilaration the students experienced, saying “iGTB allows banks to dream.”

About the Oxford School of Transaction Banking:

The school, founded in 2016, has the aim of helping senior transaction bankers to run, day-to-day, a successful transaction banking franchise. It is open by invitation only to heads of cash management, payments, liquidity, trade finance, supply chain finance (or equivalents) or above, in banks anywhere in the world. It is an intensive course based on Design Thinking, featuring a curriculum based on a three-level maturity model and six design levers, exercises where scholars practise using Design Thinking on real case studies, case studies of specific banks presented by the leaders in the banks who executed them, with additional speakers covering digital, economics, CEO attitudes, and marketing. The school takes place in the prestigious Rhodes House, Oxford, finishing at the exclusive Oxford and Cambridge Club in London, and also features a networking and cultural programme including a private tour of Oxford. Finally, alumni have private access to a site featuring prime content on transaction banking. The course ran between 14 and 16 February 2018 and continues to be sponsored by iGTB, with both iGTB and the Roosevelt Group formulating and moderating it.

About Intellect Design Arena Limited:

Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 136 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit http://www.intellectdesign.com/

CONTEXTUAL PAYMENTS DECISIONING

On the one hand there are risks. The risk of missing a payment cut off, approving a high value payment without adequate limit checks and the risk of running out of liquidity with the clearing/settlement bank and paying high overdraft charges.On the other hand there are opportunities. PSD2 and Real Time Payments and Open API standards are providing banks with new opportunities.

This white paper explores the finer intricacies of a funds control system in terms of functionality and integration and highlights case studies of banks which have successfully implemented such systems

To read more please fill in the below form to get your copy of the Contextual Payments Decisioning white paper

iGTB teams with Pivotal to bring contextual corporate banking to the cloud

iGTB to offer its new AI-based and API based CBX 18 digital transaction banking platform to Pivotal Cloud Foundry to improve services for corporate banking clients

London (UK) & San Francisco (US), February 09, 2018. Intellect Global Transaction Banking (iGTB), the corporate banking technology provider, and Pivotal Software, Inc. announced the upcoming availability of iGTB’s next-generation Cash Management platform, CBX 18, on Pivotal Cloud Foundry® (PCF), one of the world’s most powerful cloud-native platforms, to bring “on-tap” corporate banking capabilities to the financial services industry. iGTB is a global leader in corporate banking technology with 178 client installations across North America, Europe, Asia, ME and Africa and CBX 18 on PCF is expected to significantly accelerate its expansion in the U.S.

CBX 18 – an API-first and microservices-based platform – heralds a new era of “contextual” corporate banking capabilities – using predictive analytics and machine learning to provide corporates with automatic, tailored “best-next” actions and offers, based on their business context. This approach brings customer service to unprecedented heights through simple, one-click solutions for corporate treasurers while banks can cut costs, retain and deepen client relationships and open up new revenue streams. Allowing banks to deploy the CBX 18 solution on their preferred platform, Pivotal Cloud Foundry can result in faster delivery, shorter release cycles, and better integration with their existing ecosystems.

Commenting on the collaboration, Manish Maakan, CEO of iGTB, says: “Teaming up with Pivotal is a big step forward and underlines the commitment to our technology roadmap complementing our focus on customers’ needs. Pivotal Cloud Foundry supports our ability to run our digital banking platform both securely and at any scale, and empowers both our own and our client’s Dev and DevOps teams to deliver enhancements, new integrations and innovations at speed. Thanks to the automation we have applied to every element of the technology stack, Pivotal Cloud Foundry will improve our offering to new and existing clients in Europe and the US in particular, allowing us to deliver one of the most sophisticated corporate banking platforms on the market.”

“Digital transformation is on the mind of every business leader, especially in banking and financial services. To adapt, financial institutions need to bring together the best of modern developer environments with industry-specific software solutions designed to address constantly evolving customer needs,” said Rob Mee, CEO, Pivotal. “CBX 18 on Pivotal Cloud Foundry represents a significant collaboration between iGTB and Pivotal, where the world’s largest banks are able to deliver new, integrated customer experiences driven by context and advanced analytics, while IT has peace of mind knowing that it runs on a secure and agile cloud platform.”

Manish Maakan, CEO of iGTB, adds: “Pivotal’s cutting-edge technologies and culture of bringing development agility to financial services ideally suit our own commitment to innovation. The partnership is great news for us, as we continue to boost our market reach and identify joint opportunities, and it’s even better news for our clients – and their clients – who will enjoy customized, high-quality solutions that incorporate both our – and Pivotal’s – expertise.”

About Intellect Design Arena Ltd:
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 136 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com. For information on the solutions for global transaction banking, please visit igtb.com.

BCR WORLD SUPPLY CHAIN FINANCE REPORT 2018: Anand Pande featured as industry expert

iGTB’s Anand Pande, Head of Supply Chain Finance and Trade, is industry expert round-table panelist in BCR’s World Supply Chain Finance Report 2018, published at the Supply Chain Summit in Frankfurt, Germany.

The 4th edition of the report interviews domain specialists on how technology is not only helping shore up supply chains, but also bring together banks and technology providers. The report reviews the global supply chain finance market, highlights the latest trends in regional markets and provides an overview of how supply chain finance is evolving.

To learn how you can transform your SCF & Trade Finance business, please fill in the below form to get your copy of BCR’s round table transcript: How digital technology is realising tangible benefits in supply chain finance

PAYABLES FINANCE: A GUIDE TO WORKING CAPITAL OPTIMISATION: Anand Pande credited as key contributor to the white paper

The white paper “Payables Finance: A Guide To Working Capital Optimisation” published by Deutsche Bank at the Supply Chain Summit in Frankfurt, Germany, features iGTB’s Anand Pande, Head of Supply Chain Finance and Trade as a key contributor.

The report highlights the progress of SCF and the payables finance business to its current position as a core working capital and supply chain management tool, and how to address its potential going forward.

To learn how you can transform your SCF & Trade Finance business, please fill in the below form to get your copy of the Deutsche Bank white paper.

Bank of Baroda’s new digital Supply Chain Finance solution from iGTB

London (UK), January 17, 2018: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, has implemented a comprehensive supply chain finance platform for Bank of Baroda, India’s International Bank.

With a $418 billion finance gap in the Indian SME sector alone, the roll-out of the digital platform will extend new financing and working capital opportunities to the bank’s numerous clients – and their partners – expected to boost the number of digital transactions across the nation. Prime Minister Narendra Modi’s “Digital India” initiative – which aims to drive economic development through wide-ranging digital transformation across the country – has set an ambitious target of reaching 25 billion digital transactions in 2017-18.

Furthermore, increasing trade across a country rapidly establishing itself on the global stage is a high priority – India’s exports of $261 billion are up by 47.7 per cent since 2009, and its internal trade as a proportion of GDP is at a healthy value of 54 per cent.

Finally, by supporting the bank’s manufacturing clients across the country, the platform is helping Modi’s “Make in India” initiative become a reality – transforming India’s economy into to a world-class manufacturing hub.

The solution provides a full range of supply chain finance products – covering pre- and post-shipment, vendor finance, dealer finance and payable finance – and is highly flexible and scalable, with an omni-channel user interface that supports rich analytics. By increasing automation and straight-through processing, while enhancing reporting capabilities, the platform should drastically reduce transaction costs and risks while uplifting satisfaction of the bank’s clients.

Mr. Litesh Majethia, Head of Supply Chain Finance, Bank of Baroda, says: “With this latest state-of-art digitized SCF product, we are now live with a few large corporates and many more in the pipeline. With this product we will be augmenting our relationship with Large Corporate Customers and SME clients. This product will help us enter new Large Corporate Relationship and MSME clients. In line with our Prime Minister’s “Digital India”, “Make in India”, “Stand-Up India” initiatives, this solution will augment the strength of the companies that are driving the country’s growth – opening up new financing opportunities for companies of all sizes via a cutting-edge digital product. We have received positive & encouraging response from many of the customers and they are happy that Bank of Baroda’s SCF product is not only delivering value in terms of speed of transactions and information but is very swiftly acquiring dealers & vendors. This product will empower the Bank and give us competitive positioning in the market, highlighting our intent as a leader in the field of Supply Chain Finance. This project is an example of transformation agenda that we are driving in the Bank: Digitization, Centralisation, and seamless & faster Transaction Processing.”

Manish Maakan, CEO of iGTB, says: “Our strong experience in supporting other Indian banks and financial institutions means our supply chain finance offering is the most mature and sophisticated it has ever been. Supply chain finance – when done properly – provides banks with an opportunity to become a valuable partner in their clients’ supply chains and ensures sustained growth and profitability of clients and their business partners. We are delighted to see Bank of Baroda seizing this through their digital leadership, and we are committed to playing an ongoing role in their transformation.”

David Bannister, Principal Consultant from Ovum wrote, in an in-depth case study, how Bank of Baroda is rapidly acquiring market share and making money from Supply Chain Finance. He details how the bank partnered with the digital transaction banking expert, iGTB, to contribute to the digital vision of the 6th largest economy in the world. The complete case study is available in the below link for read and download http://bit.ly/2mEJZB1

About Intellect Design Arena Ltd:
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 136 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com. For information on the solutions for global transaction banking, please visit igtb.com.

About Bank of Baroda:
Bank of Baroda is an Indian state-owned International banking and financial services company headquartered in Vadodara (earlier known as Baroda) in Gujarat, India. It is the second largest bank in India, has corporate office in Mumbai. Bank of Baroda is a pioneer in various customer centric initiatives in the Indian banking sector. Bank is amongst first in the industry to start technology and new business initiatives.

Bank has a long legacy and tradition of contributing actively to the social and economic development of the communities in which it operates through various development activities in the realm of education, health, human welfare and other social activities. Bank of Baroda always transcends from business interest and reaches out to all segments of society, with a view to make a meaningful difference to them.

For Media related info, please contact:
Nachu Nagappan,
Intellect Design Arena Ltd
Mob: +91 89396 19676
Email: nachu.nagappan@intellectdesign.com

For Investor related info, please contact:
Praveen Malik,
Intellect Design Arena Ltd
Mob: +91 89397 82837
Email: Praveen.malik@intellectdesign.com

ENTERPRISE CASE STUDY: Building on New Banking Environments

David Bannister, Principal Consultant from Ovum writes, an in-depth case study, how a late entrant bank rapidly acquired market share and made money from Supply Chain Finance. He details how the bank partnered with the digital transaction banking expert, iGTB, to contribute to the digital vision of the 6th largest economy in the world.

Small and Medium Enterprises (SMEs) contribute about 28% to the GDP but were poorly served by the pre-existing banking system, largely relying on money lenders and private investors, with a funding gap of around $418bn. So the bank made the strategic decision to launch new products providing supply chain finance services to corporates and SMEs by partnering with iGTB.

Though a late entrant, Bank of Baroda was convinced that, with iGTB’s Supply Chain Finance digital platform, they can get more market share and bridge the gap with the established players. Within a few weeks of going live, iGTB enabled Bank of Baroda to achieve 10+ anchor clients, over $50m facilities and, unusually for SCF, full automation (100% STP).

To read more please fill in the below form to get your copy of the ENTERPRISE CASE STUDY: Building on New Banking Environments white paper

iGTB launch Digital Transaction Banking available as SaaS

iGTB’s DTB solution launches on the cloud for easy, fast accessibility for any size bank

London (UK), 29th September, 2016: Intellect iGTB, the organisation behind the world’s first comprehensive global transaction banking solution, has made its well-established global integrated cash and trade solution, Digital Transaction Banking (DTB), available as software as a service. DTB comprises account services, reporting, collections and receivables (including EIPP), liquidity, trade finance, supply chain finance and treasury products, all seamlessly integrated. The product continues to experience great success and increasingly, banks are requesting a software deployment model that gives an even faster and simpler way to access these services. This is based on the model bank concept with many pre-configured elements and a comprehensive set of tried-and-tested customer journeys.

The solution, which has over 70 installations, has a track record of increasing customer numbers by 32% year-on-year in one bank, and even more impressively a doubling of customer base in just 9 months in another, the solution consistently demonstrates other benefits such as profitability increase, very high STP and FTE reductions. It is no surprise therefore that many banks are utilising the service in tens of countries. Now, the cloud aspect allows banks to simply switch on and go.

The solution was designed for, and has been implemented by, banks across the spectrum from small to regional to global, and in turn used by their business customers of all sizes. But the new availability on the cloud will be of value, in particular to local and primarily domestic banks, as it allows them to bypass more costly and long-term investment and implementation procedures by eliminating the need to physically integrate the technology solution into their existing systems. Instead, they can access the software as a service and seamlessly use it for onboarding any of their customers simply.

This new form of accessing such a solution means that banks can exploit the opportunities presented by the $12 trillion held in corporate cash. From relationship managers to CDOs, Heads of Transaction Banking and COOs, banks are asking how they can improve customer stickiness, revenue, efficiency and use of resources – and provide their customers with a single view across cash and trade processes via any device, including tablets, mobile phones, laptops and wearable technology such as the Apple Watch. This solution will allow them to meet both those bank needs and those of their corporate customers without siloes and in the optimal manner for varied client segments.

iGTB CEO Manish Maakan comments “Banks need, and are rightly demanding, the ability to offer new and enhanced services in a simpler manner. By accessing our proven existing solution via the cloud, any banks – particularly those whose concerns are more locally focused – can gain benefits that deliver significant value, all in a remarkably short space of time.”

About Intellect Design Arena Ltd:
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FT8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 124 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com. For information on the solutions for global transaction banking, please visit igtb.com.

iGTB signals US growth ambitions with transformation strategist and business development hire

Ravi Pandit joins corporate banking technology specialist iGTB from Backbase, where he oversaw a significant increase in their US coverage and scale

New York (US) & London (UK), January 12, 2018. Intellect Global Transaction Banking (iGTB), the corporate banking and technology specialist from Intellect Design Arena Limited, has appointed Ravi Pandit as EVP & Head of Sales, USA. Ravi has almost two decades of experience in financial services business development in North America, and his appointment underlines iGTB’s ambitions to extend its market-leading products across the wider US market.

Ravi will be based in iGTB’s large New Jersey US headquarters and will be responsible for spearheading the company’s further expansion in the US – bringing on board strategic banking clients that are undergoing significant digital transformations in response to fast-changing market conditions.

Commenting on the appointment,Manish Maakan, CEO at iGTB, says: “Ravi’s appointment is a big win for us. Aside from his success at Backbase, his global consulting experience with Capgemini will inspire confidence among top-tier bank executives overseeing widespread digital transformations, and his time at Oracle gives us an invaluable insight into how to win against leading brands to bring our own offering and quality of work to new clients. I’m truly excited at the progress that we can make with Ravi’s appointment.”

Ravi joins iGTB from Backbase USA, where he headed global business development and strategic partnerships for just over two years. During his time there, he oversaw a quadrupling of the company’s headcount, and a number of key accounts were added, not only in the US and Canada, but also in countries such as Brazil, Mexico, and Colombia.

Ravi’s role prior to Backbase as head of strategy and transformation practice in Financial Services at Capgemini demonstrates his global advisory experience with large digital transformations, and prior to this he spent more than 14 years at technology giant Oracle, where he was heading sales, business development and product strategy for core banking business in North America.

Ravi Pandit comments: “With new initiatives such as real-time payments forcing US banks to undergo large-scale digitalizations while continuing to provide top-level services to clients of all sizes, many US technology vendors simply aren’t offering the necessary technologies or implementing these in a seamless, non-disruptive way. With the transformational contextual banking approach – which asks, “what if your digital solution actually understood, even anticipated, what your business is trying to achieve?” – iGTB has the product range and expertise to balance these requirements, and is positioned perfectly to seize the opportunities the US market has to offer.”

Maakan concludes: “iGTB is on a journey. We have a strong track record across Canada, Europe, Middle East and Asia, and now we want to increase our footprint in the US, where there is the space for us to grow and a great match between what the market is crying out for and the ground-up API products we offer.”

About Intellect Design Arena Ltd
Intellect Design Arena Ltd, a specialist in applying true Digital Technologies and a global leader in Financial Technology, is the world’s first full spectrum Banking and Insurance technology products company, across global consumer banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand, progressive financial institutions rely on for digital transformation initiatives. Intellect pioneered Design Thinking for cutting edge products & solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation addressing the growing need for digital transformation. Intellect generates annual revenues of more than USD 136 million, serving more than 200 customers through offices in 40+ countries and a diverse workforce of more than 4,000 solution architects, domain and technology experts, in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com.