Time Out for Treasurers

We seem to be in a distant time warp from the environment that we all experienced just a few months back. I was at the fantastic setting of the Kempinski Palm Jumeirahin Dubai in January 2020 for the 1st gathering of iGTB Oxford School of Transaction Banking alumni. There I heard the challenges and ambitions of a group of highly qualified financial professionals across a wide spectrum of industries. I was party to the comments made on constraints of banking partners – getting the operating fabric of day-to-day business right, securing fast decision making and achieving more permanency from the relationship management teams.

I also heard their high expectations of banks to provide more accessible real time account information, better analytics, and to share learnings on how to leverage newer technologies in a more relevant way so that the treasury  function could support businessbetter. We had rare use case insights of how robotic process automation and blockchain can actually improve business logistics and support core cross border trade activity. Such snippets of real life activity were rewarding in their relevancy in painting an environment that was grounded in pragmatism but also forward looking, hopeful and realistic in expectation.

How the landscape has changed today! We are in the A&E ward of hospital care –living off any spare equipment. Treasurers are reeling and going back to the fundamental basics of Treasury Management 1.0.

If ever we had to go back to valuing the soundness of the first principles of treasury management it is now. How to understand the hard way the real significance of working capital management, liquidity provisioning and the need for accurate data to assess the rhythm of collections and payments of the business: The critical importance in having those credit facilities and back stop loan agreements as well as cash in the bank to meet unexpected payment obligations.

For many SME companies growth was always the key parameter. But now locked in a major economic tsunami the panic buttons are being pressed. How to cut costs, how to delay payments, how to explore force majeure contractual conditions to by pass cash deployment. And yes how to re-engage with critical banking partners and maintain the balanced argumentation around invoking contingency support as well as claiming a rightful place in the queue for governmental support schemes.

Tomorrow’s imperatives for many have a time horizon of days. Not even the present quarter is a meaningful calendar reference point. This is a short sentence where survival relies on speed and action. We can only hope that normality returns really quickly and that support schemes are fluid, generous and easy to mobilise. Banking institutions are clearly working hard to unlock all the lifelines they can for the corporate community. Central banks are waiving critical regulatory capital ratios and ensuring liquidity floods the market.

preserving-bank-and-liquidityPreserving bank cash and liquidity levels is a top priority. We remain truly mindful of the challenges that the finance industry faces in an unprecedented point in history. If only we could turn back time…that elusive ingredient that is not unfortunately on the side of many treasurers. Our thoughts go out to our colleagues and friends across the banking and corporate worlds as they navigate this pandemic.

 

As the wise bard said – ‘Defer no time, delays have dangerous ends.’

Keeping Your Balance(s)

Implementing a virtual accounts capability brings its own challenges. Providing virtual accounts with even basic capabilities requires careful integration with some of the bank’s core systems and infrastructure. Add in capabilities, such as payments initiation or receipt and the challenge increases.

Virtual accounts enable business to control money the way they want, say iGTB’s CMO, Phil Cantor and VAM product specialist Ashok Vedartham, in this article published in the Fintech Power 50 magazine.

To learn more please fill in the below form and get your copy of the article



Real time Liquidity

Real time payment capabilities have delivered big cost savings to corporations by enabling just-in-time movement of funds to suppliers and creditors. By no longer needing to pre-fund accounts, real-time payment technology has allowed corporate treasurers to retain the time value of money right until the last moment. Banks have benefited too, for much the same reason. Except it has cost each bank multi-million dollars in implementations to deliver the capability.

The white paper highlights:

  • What Real-Time Liquidity means and who benefits from it
  • Why there are winners and losers in real-time liquidity management
  • Where RTLM will take us and when we will see the benefits
  • How much can we do today?


Please fill in the below form to get your copy of the “Real time liquidity” white paper


iGTB powered First Abu Dhabi Bank Wins Global Finance Award 2020 for ‘Best Liquidity Management Bank in the Middle East’

London (UK) , 1 April 2020 : iGTB, the world’s first complete Global Transaction Banking Platform from Intellect Design Arena is proud to congratulate UAE’s leading financial institution First Abu Dhabi Bank (FAB) for being recognised by Global Finance Award 2020 as the Best Liquidity Management Bank in the Middle East.

FAB, a long-standing client of iGTB, received this award for demonstrating innovation through technology to offer a differentiated user experience that aligns with the needs of today’s business owners and corporate treasurers. FAB has implemented iGTB’s integrated Digital Transaction Banking solution with the front-end client interface supplied by the Contextual Banking Experience (CBX) with its modern, omnichannel UX, and the back-end by iGTB’s fully integrated state-of-the-art Liquidity Management Solution, collections, receivables, and payments products.

The award-winning Liquidity Management Solution from iGTB empowers corporate treasurers with pooling, sweeping, intercompany loans and virtual accounts, as well as policy-driven automated investment sweeps, cash flow forecasting and real-time funds checking. The system delivers sophisticated automation and comprehensive analysis for more informed decision within corporate treasury departments. iGTB is the market leader in corporate liquidity management and partners banks worldwide – indeed, 23% of worldwide cross-border MNC sweeps go through iGTB systems. Its applications for transaction banking sport a world-class comprehensive digital, self-service, front-end that delivers a faster, simpler and seamless experience to help banks gain and retain corporate clients.

Commenting on the award, Manish Maakan, CEO, iGTB, said, “iGTB congratulates FAB for this prestigious recognition from Global Finance, one of the most respected media publications. We applaud the vision of FABenhancing their value proposition to customers by investing in digital, and digitising the entire customer journey, thus improving customer convenience. We are privileged to be part of this transformational initiative.”

Global Finance relies on a multi-tiered assessment process, including input from industry analysts, corporate executives and technology experts to select the best providers of treasury and cash management services. Winners are chosen based on a range of objectives and subjective criteria, including profitability, market share and reach, customer service, competitive pricing, product innovation and service differentiation.

About Intellect Global Transaction Banking (iGTB):

The World Best Corporate Banks Bank on iGTB

iGTB, is the world’s first complete Global Transaction Banking Platform from the house of Intellect. It helps corporate banks prepare for a new era of customer-centric services. With a rich suite of transaction banking products, across DTB, Payments, Liquidity, Trade and Supply Chain, iGTB is an authority on vertical and integrated products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessly integrates all the transactional needs of corporate customers, delighting them with Contextual Banking eXperience (CBX), a white label digital transaction banking platform to manage firms’ cash and trade, that leverages Machine Learning and predictive analytics, delivered through APIs and an omnichannel UX. For more information on iGTB, please visit https://www.igtb.com/

About Intellect Design Arena Limited

Intellect Design Arena Ltd., a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), (Risk, Treasury and Markets) and Insurance Software. With over 25 years of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.

Intellect pioneered design thinking for cutting-edge banking and insurance products and solutions, with that being the company’s salient differentiator when enabling digital transformation. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be aptly addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 200 customers through offices in 91+ countries, with a diverse workforce of more than 4,000 solution architects, domain specialists, and technology experts in key financial hubs around the world. For further information about the company and the various solutions it offers, please visit https://www.intellectdesign.com/

Middle East’s Second-Largest Financial Institution chooses iGTB’s integrated LMS

Dubai, 20th March, 2020: iGTB, the world’s first complete Global Transaction Banking Platform from the house of Intellect Design Arena Limited, today announced that Middle East’s second-largest bank has expanded its relationship with iGTB to enhance the bank’s liquidity management capabilities.

The Liquidity Management Solution from iGTB empowers corporate treasurers with pooling, sweeping, intercompany loans and virtual accounts, as well as policy-driven automated investment sweeps, cash flow forecasting and real-time funds checking. The system delivers sophisticated automation and comprehensive analysis for more informed decision within corporate treasury departments. iGTB is the market leader in corporate liquidity management and partners banks worldwide. Its applications for transaction banking sport a world-class comprehensive digital, self-service, front-end that delivers a faster, simpler and seamless experience to help banks gain and retain corporate clients.

“We are delighted to extend our partnership with second-largest bank in the Middle East, and this significant expansion in liquidity management capabilities underlines our market leadership in the Middle East, with iGTB being the preferred go-to partner for transaction banks. The deal win reinforces how much the world’s best corporate banks, bank on iGTB,” said Manish Maakan, CEO, iGTB. He further added, “The implementation of the latest enhancements to the bank’s liquidity management capabilities will boost the bank’s product innovation and allow for operational excellence, enabling it to prepare for future growth and expansion.”

iGTB’s proven Liquidity Management Solution is already used by several other UAE banks, which are also users of iGTB’s Digital Transaction Banking suite, illustrating the attraction of consolidating IT estates and the strength of iGTB in the Middle-East. More than 30 other global banking groups are benefitting from this world-leading solution which handles 23% of the world’s cross-border MNC sweeping structure flows and is present in more than 70 countries with regulatory and regional tax compliance options to ensure a smooth operation and strong corporate governance.

About iGTB:

The World’s Best Corporate Banks Bank on iGTB
iGTB is the world’s first complete Global Transaction Banking Platform from the house of Intellect help Corporate Banks prepare for a new era of customer-centric Services. With a rich suite of transaction banking products, across DTB, Payments, Liquidity, Trade and Supply Chain Supply, iGTB is an authority on vertical and integrated products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessly integrate all transaction needs of corporate customers, delighting them with Contextual Banking eXperience (CBX), a white label digital transaction banking platform to manage firms’ cash and trade that leverages Machine Learning and predictive analytics, delivered through APIs and an omnichannel UX. For more information on iGTB, please visit https://www.igtb.com/

About Intellect Design Arena Limited

Intellect Design Arena Ltd., a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With over 25 years of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge banking and insurance products and solutions, with that being the company’s salient differentiator when enabling digital transformation. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be aptly addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 200 customers through offices in 90+ countries. For further information about the company and the various solutions it offers, please visit https://www.intellectdesign.com/.

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 Limited
Mob: +91 89397 82837
Email: Praveen.malik@intellectdesign.com

Habilitar el contexto empresarial en los pagos

La modernización de los pagos ha abierto un nuevo mundo de posibilidades en múltiples geografías. Se están introduciendo en varios mercados, nuevas plataformas de pagos, desarrolladas a través de sofisticadas tecnologías, con robustos entornos de seguridad.

El Informe:

– Define la necesidad de ser contextual y por qué es relevante en los procesos de pago
– Describe las principales tendencias y comportamientos que están conduciendo a la necesidad de contextualizar los pagos
– Proporciona distintas visiones sobre cómo la disponibilidad de datos y herramientas asociadas (ML, IA, etc..) están acelerando la habilidad de ser contextual con mayor rapidez
– Proporciona varios ejemplos sobre cómo los bancos pueden iniciar progresivamente el proceso de transformación para contextualizar los pagos, y posteriormente expandirse hacia una banca contextual
– Ilustra sobre el paradigma del cambio de arquitectura que podrá hacer esto posible

Por favor, cumplimente el formulario para descargar el informe “Habilitando el Contexto Empresarial en los pagos”



iGTB-powered Abu Dhabi Islamic Bank Wins Aite Group’s 2019 Cash Management and Payments Innovation Award for Customer Experience

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, are delighted to congratulate UAE’s leading financial institution Abu Dhabi Islamic Bank (ADIB) for winning the Aité Group’s 2019 Cash Management and Payments Innovations Award for Customer Experience through their flagship platform, ADIB Direct, across web, mobile and watch.

iGTB’s Digital Transaction Banking platform prepares transaction banks to provide for every client’s and every sector’s needs with a configurable and intelligent platform that encompasses every aspect of transaction banking. With DTB, transaction banks can successfully optimize capital, maximize ROA and fee income, improve product cross-sell & distribution channel effectiveness, ensure regulatory compliance and support SME franchise and growth sectors (through working capital provisioning and advisory services) as well as empowering larger corporates, including up to multinationals.

ADIB received this award for demonstrating innovation through technology to offer a differentiated user experience that aligns with the needs of today’s business owners and corporate treasurers.

The well-known Aité Group recognizes financial institutions that leverage innovative technology. The awards program honours financial institutions that are introducing new products, capabilities or levels of automation and effectiveness that brings the industry one step closer to next-generation banking.

Haytham Elmaayergi, Global Head of Transaction Banking at ADIB, said: “We are delighted to be recognized by Aité.  This award is testament to the work being done at ADIB to improve the user experience. Our focus on technology-driven innovation will continue to further improve the customer experience for our Business Banking customers and our partnership with iGTB in the implementation of our digital transformation strategy will help us boost the bank’s productivity and efficiency.”

Manish Maakan, CEO, iGTB said, “Our vision is to deliver cutting-edge products and solutions, with design being the key differentiator in enabling digital transformation. We are delighted that ADIB has won this exemplary recognition, joining the growing ecosystem of award-winning banks who partner with iGTB.  The evidence further shows that the world’s best corporate and transaction banks succeed across the world in partnership with iGTB.”

“Abu Dhabi Islamic Bank’s decision to invest in its digital capabilities has enabled it to differentiate itself among its christine-barrypeers and create a consolidated experience with unique attributes that enhance end-user efficiency and value,”said Christine Barry, Research Director at Aité Group. She added, “ADIB’s rollout of iGTB’s new digital platform has streamlined and enhanced customers’ user experiences, providing easy access to the most critical products through multiple channels”

About Intellect Design Arena Limited

Intellect Design Arena Ltd., a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With over 25 years of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.

Intellect pioneered design thinking for cutting-edge banking and insurance products and solutions, with that being the company’s salient differentiator when enabling digital transformation. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be aptly addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 240 customers through offices in 91+ countries, with a diverse workforce of more than 4,000 solution architects, domain specialists, and technology experts in key financial hubs around the world. For further information about the company and the various solutions it offers, please visit www.intellectdesign.com. For further information about the transaction banking solutions offered by iGTB, please visit https://www.igtb.com/.

Aite Impact Brief on Abu Dhabi Islamic Bank: Digital Banking and Bank Office

https://www.aitegroup.com/report/abu-dhabi-islamic-bank-digital-banking-and-bank-office

 

iGTB Oxford School of Transaction Banking makes its debut in the Middle East

  • An exclusive “by-invitation” networking event exposed insights from leading corporations about their banking needs
  • Held at the picturesque Palm Jumeirah, Dubai, senior transaction bankers from the Middle East also met with the alumni of the School to get a glimpse into the immersive learning experience offered for senior transaction bankers

Dubai, 07 February, 2020: Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, today announced that its first iGTB Oxford School of Transaction Banking Alumni & Networking Event was held on 22 January, 2020 in Dubai, attracting 40 top bankers from 16 banks across the Middle East.

The afternoon and evening gave a unique opportunity for senior transaction banking executives to rekindle old friendships and interact with fellow graduates from the six incarnations of the School, which achieved NPS scores up to a stunning 94.4%. More importantly, learn from the personal journeys of their fellow graduates as they continue to develop winning strategies, improve decision-making capabilities and manage organisation-wide change in their banks, since graduating from the program.

The participants gained key insights into the immersive learning experienced by executive-level practitioners of transaction banking and got an exclusive opportunity to interact with leading corporates of the region with business interests ranging from retail, steel, healthcare, transportation, oil, steel and even diamond trading!

The special guest speakers including the alumni of School, Landmark Group, Diarough, Afri Ventures, Conares and SOCAR Trading shared their opinions. Additionally, Dr Tobias Miarka, MD, Greenwich Associates(the highly respected global financial services research firm)along with Gaurav Arora, Head – Corporate & Institutional Banking, Greenwich Associates presented the latest trends which have helped them succeed in transaction banking in the Middle East, providing insights from original research into corporate bank clients.

igtb-oxford-alumniA full house: senior transaction bankers from across the Middle East learning first hand from the personal journey of an alumnus of the School since graduating from the program.

rajesh-gargRajesh Garg, Group Chief Financial Officer, Landmark Group, said “It was my pleasure to have shared our thinking on digital initiatives in our operations especially the payment and treasury aspects including our recent initiatives in Blockchain and Robotic Process Automation. All the sessions at the iGTB Oxford event brought insightful perspectives from technology partners, transaction bankers to corporate treasurers.”

 

panel-discussionOne of the key highlights of the evening: the corporate panel discussion that explored how businesses select their banks and the impact of digitization on product servicing.

adil-driverAdil Driver, General Manager, Diarough Middle East DMCC, a diamond trading firm, and a former banker with ABN Amro, said “The engaging panel discussion, really brought forth the impact of transaction banking on our businesses given the relevant constraints. A key takeaway, I believe, is that more constructive and more collaborative partnership with banks will go a long way to enhance the experience of the corporate finance functions.” 

 

andrew-englandAndrew England, Curriculum Director, Oxford School of Transaction Banking and Director & Head of Strategy, iGTB, said “With an overwhelming positive feedback with an NPS score of 70% from the participants, the relevance of creating such networking forums goes a long way towards reaffirming the importance of this business, as well asunderstanding key variables that will affect everyone in the changing world of thetransaction banking ecosystem.”

 

With around 200 alumni worldwide from the School, which has previously been run in Oxford, London and Singapore, and only open to senior, practising transaction bankers, the alumnus community now forms a powerful caucus for change and improvement in best practice in running a successful transaction banking franchise. This highly successful initiative brings together industry experts, bankers & corporate treasurers to Oxford(London), Singapore and now Dubai – within a program curriculum designed to leverage best practice, inviting colleagues to share their own stories, challenges, learning and successes.

The next full course will be held on 22nd-24th April,2020 in Oxford at the Rhodes House. It will conclude as usual in the Oxford & Cambridge Club in London. Visit igtboxford.com for more details on the program.

About Intellect Design Arena Limited

Intellect Design Arena Ltd.,a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With over 25 years of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge banking and insurance products and solutions, with that being the company’s salient differentiator when enabling digital transformation. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be aptly addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 240 customers through offices in 91+ countries, with a diverse workforce of more than 4,000 solution architects, domain specialists, and technology experts in key financial hubs around the world. For further information about the company and the various solutions it offers, please visit intellectdesign.com. For further information about the transaction banking solutions offered by iGTB, please visit https://www.igtb.com.

iGTB Announces World’s First 100%, 45-minute Robotic Deployment of its fully-featured Transaction Banking Portal CBX

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, today announced that it has enabled CBX for Kubernetes Operators allowing our client’s devops teams to provision and deploy on any type of cloud (public, private or hybrid) with a single click and without human involvement. This process, which usually takes weeks or more, and with the ever-present potential for error, is now fully automated.

CBX is a contextual, omnichannel front-end for banking businesses of all sizes, covering all capabilities, including cash management, payments, liquidity, collections, virtual accounts, cash flow forecasting, trade finance and supply chain finance.  CBX uses OpenShift from Red Hat (recently acquired by IBM) with Kubernetes Operators to make life easy for its banking clients to incrementally deploy new domain packs, or apply hot updates.  Deployment can be to any of the major providers and iGTB already has partnership agreements with AWS, IBM, Microsoft and Pivotal.

Herber de Ruijter, Head of Digital and Payments, iGTB, said “Instead of bank-in-a-box, this technological breakthrough allows us to deliver bank component functionality on Kubernetes Operator tiles.  We have fully modularised our cash management and transaction banking product portfolio so that each module can be provisioned similarly: module updates now need zero human intervention and will be deployed through the same tiles. This is similar to installing apps from an app store. Quite apart from the speed, cost and right-first-time benefits for the bank, it’s just plain simpler.”

iGTB also uses Kubernetes Operators to provision 3rd party partner applications through the same tile-based app store, for example for multi-factor authentication, content management and campaign management.

Caption: Showing the simplicity of devops deploying CBX Bank-on-a-Tile from iGTB using Kubernetes Operators.  After choosing the tile to install, a single click of “Install” provisions and deploys complex transaction banking cash management functionality.  The image shows installation of a powerful cash flow forecasting module and of iGTB’s world-leading liquidity management module front-end.  Just like how consumers routinely install from an app store.

 

About Intellect Design Arena Limited

Intellect Design Arena Ltd.,a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With over 25 years of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.

Intellect pioneered Design Thinking for cutting-edge banking and insurance products and solutions, with that being the company’s salient differentiator when enabling digital transformation. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be aptly addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 240 customers through offices in 91+ countries, with a diverse workforce of more than 4,000 solution architects, domain specialists, and technology experts in key financial hubs around the world. For further information about the company and the various solutions it offers, please visit intellectdesign.com. For further information about the transaction banking solutions offered by iGTB, please visit https://www.igtb.com/.

Transaction Banking: 800 pound gorilla or newborn chimp?

In a world where every financial institution will declare its allegiance to business transformation, it will be the few who defend their ancestral primitive, primate and primal behaviours – and ‘back-to-basics core’ DNA – who will ultimately win.

The thought leadership article by Andrew England, Director and Head of Strategy, iGTB dissects the three key trends in Transaction banking:

  • The changing business focus of banks post 2008
  • The growing size and visibility of the payments business globally and
  • The simplification of business models

Please fill in the below form to get your copy of the article.