Record breaking 96% NPS for the Advanced Programme of the world’s only iGTB Oxford School of Transaction Banking

Record breaking 96% NPS for the Advanced Programme of the world’s only iGTB Oxford School of Transaction Banking

55 of the world’s best bankers from 30 global banks gather in Oxford to mark the successful post-covid return of the exclusive iGTB Oxford community

London, 19 July 2022: Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence for three years in a row, today announced phenomenal success – overwhelmingly positive feedback and a huge NPS score of 96% – on the successful completion of its seventh edition of iGTB Oxford School of Transaction Banking, this time the new Advanced Programme, for senior leaders.

Record breaking 96% NPS for the Advanced Programme of the world’s only iGTB Oxford School of Transaction Banking

This by-invitation school, with a revised curriculum led by Andrew England, Strategy Director, iGTB, attracted a cohort of senior bankers including CEOs from 30 banks worldwide, who join the existing community of now over 200 alumni. The Advanced Programme had thirty session leaders sharing real life case studies, structured into the six key KPIs for corporate banking CEOs,
as well as groupwork with a “Dragon’s Den” enactment.

Taking in the stunning Divinity School built from 1427 and the Convocation House from 1634, the networking and cultural programme included a private guided walking tour of Oxford, visit to the Pissarro Exhibition and a tour of the Bodleian Library. The School culminated at the Oxford and Cambridge Club in Pall Mall.

In the words of some of the participants:

  • “TB is absolutely key for banks for the future because of the cash generated and the RoE, boosting the share price. I’m very impressed about all of the presenters here and I’m really looking second-by-second at all the information I’m getting here at this excellent conference.”  (Werner Steinmüller, Chairman Deutsche Bank SpA and former CEO DB Asia)
  • “I’m learning so much from this course. I would 100% recommend this School to any banking representative who wants to grow their bank and make it successful. Big shout-out to iGTB for putting this event on, for me it’s been an incredible experience in an incredible setting, so
    many leading international bankers that I’m learning from.” (Don Coulter, CEO Concentra Bank)
  • “It’s an experience unlike anything I think I’ve seen, in terms of access to people who are genuinely, passionately interested in this industry. Such a fantastic opportunity to bring people together to think about how we move people forward and as an industry that’s what we have to do.” (Richard Brown, Head of Lending Product, Commercial Banking, Lloyds Bank)
  • “What we are learning here is a very wide range of banking concepts that are relevant in the emerging world of technology. iGTB has emerged as a global leader in doing TB and innovation in TB across the world. It is continuously bringing new business concepts and finding
    technology solutions to enable the growth strategy of those banks.” (Sandeep Chouhan, Group COO, Abu Dhabi Islamic Bank)
  • “It’s a very active dialogue and I’m quite impressed by what I heard. Kudos to iGTB for bringing it together, also in this fabulous environment in Oxford. I think it is very important to have venues like this and opportunities for people to come together, so congratulations!” (Michael Spiegel, Global Head of Transaction Banking, Standard Chartered)
  • “This is a unique opportunity for IT and banking people to discuss TB in great detail and I’m not aware of any other event in the globe which would have such great discussions about TB businesses. We have been working with iGTB for a long time now: they are a trusted partner
    for banks in TB. They are providing great products and this is a unique opportunity to discuss the feedback from banks and also hear their views about our businesses.” (Imre Gorzsas, Global Transaction Banking Head, Qatar National Bank)

Manish Maakan, CEO of iGTB, said: “Transaction banks, truly the heart of global commerce, serve over 200 million Manish-Maakancorporations worldwide with critical needs for unprecedented agility, for vital working capital and for the ability to navigate the shifts in supply chain.  Corporate banks aim to spend by 2025 $9.3bn just on applications. The course brought forth intensely practical considerations for banks to help them capitalise on these opportunities. I am delighted to continue sponsorship of this unique leading industry forum as part of my commitment to the furtherance of Transaction Banking excellence.”

iGTB is committed to raising best practice in Transaction Banking, and are looking ahead to the eighth School in 2023, again in Oxford and London. For more information, visit iGTBOxford.com.

About 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, contextual banking CBX, 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.

About Intellect Design Arena Limited

Intellect Design Arena Ltd. has the world’s largest cloud-native, API led microservices-based multi-product FinTech platform for the Global leaders in Banking, Insurance and Capital Markets. It offers a full spectrum of banking and insurance technology products through its four lines of businesses – Global Consumer Banking, Global Transaction Banking, Risk, Treasury and Markets, and Insurance. With over 30 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

Intellect pioneered Design Thinking to create 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, addressing the growing need for digital transformation. Intellect serves over 260 customers through offices in 97 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 organisation and its solutions, please visit www.intellectdesign.com.

Transaction Limits Management

Learn how iGTB Transaction Limits Management, a system which allows banks to process high value corporate payments by checking client balances and limits in real-time and give a pay/ no-pay/ refer decision (based on corporate cash and liquidity structures and shared limits), was able to add value to multiple banks around the world.


iGTB Ranked no1 in the World for Global Transaction Banking by IBS intelligence for the Third Consecutive Year

Retains #1 in Transaction Banking

Ranked #1 in the 2022 edition of Regional Leader (ASEAN) and Global Leader in Product Breadth categories.

London (UK), June 10, 2022: Intellect Global Transaction Banking (iGTB), a cloud-native, API-led microservices-based, multi-product FinTech company for the world’s leading financial and insurance institutions, has registered a remarkable achievement of three wins in a row for Transaction Banking including Global Leader in Product Breadth in its 2022 edition by the UK-based independent analyst firm, IBS Intelligence.

IBSi’s Annual Sales League Table is a widely-accepted industry benchmark for the performance of global banking technology solutions. The Sales League Table has been running for over two decades now and is recognised as a barometer for financial technology supplier sales performance across the banking industry.

Wholesale Banking Transaction BankingIntellect Global Transaction Banking (iGTB), the world’s first complete Global Transaction Banking platform, retains its #1 Global Leadership position in Transaction Banking in a highly competitive segment for the third consecutive year. iGTB has also retained its #1 ranking as the best-selling Wholesale Banking – Transaction Banking system. iGTB spearheads the consumerization of corporate banking through a composable, cloud-native platform powered by microservices and Open Banking APIs. Its Contextual Banking Experience (CBX) is a rich omni-channel suite that covers all Transaction Banking needs (Digital, Payments, Cash Management, Virtual Accounts, Liquidity, iColumbus.ai Trade and Supply Chain and more). iGTB with its highly successful iGTB Oxford School of Transaction Banking initiative is designed to leverage best-practices, stories, challenges, learning and successes to enable banks to meet their Principal Banker ambition for corporate customers.

Global Leadership Product Breadth

Intellect has been ranked #1 in the 2022 edition of Global Leader in Product Breadth. Intellect’s solutions help banks lead businesses on the path to growth and success and help move the banking world forward.

 

Regional Leaders | ASEAN

Intellect’s Global Consumer Banking ranked #1 in the 2022 edition of Regional Leader (ASEAN). Commenting on Intellect’s performance, Robin Amlôt, Managing Editor at IBS Intelligence said, “Intellect Design Arena racked up its third year as leader of the Wholesale Transaction Banking category. The company was a clear leader here with a nearly equal number of deals from the Americas, Europe, and the Middle East.”

 

Arun JainExpressing his views on emerging as a leader, Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “We are proud and humbled to win big at IBSi Sales League Table 2022 with six #1 Global Leadership positions. As we are forging ahead and emerging as a new world leader in the industry with our API-based Contextual and Composable banking solutions, our priorities are highlighted through our wide suite of products and solutions that reorient the future of FinTech. Our customer-centric design thinking approach and algorithmic delivery methodology are robust to ensure defect-free, on-time deliveries while being agile and sensitive to the dynamics of our customers’ priorities.”

Intellect has also retained its #1 ranking in Retail Banking for the sixth consecutive year, and #1 ranking in InsurTech for the second consecutive year.

Read More 

A Covid survival strategy with Supply Chain Finance

The Covid-19 pandemic has gifted us a rare opportunity to reset and re-shape the world we live in. What may previously have been regarded as a dream – paperless trade – is now a reality. What may previously have been regarded as difficult – supplier onboarding – is now made easy. What may previously have been regarded as impossible – interpreting vast amounts of unstructured data – is now child’s play. What may previously have been regarded as low margin – supply chain finance – is now a $20 billion revenue opportunity. Let’s not allow this crisis to go to waste

This paper analyses the perfect storm of Covid-19 and lists seven major areas of focus that show banks how to position themselves not only to survive but to obtain a competitive advantage in these challenging times.

About the author

David Hennah, Global Product Head, Trade & Supply Chain Finance, iGTB

David Hennah leads the trade and supply chain finance business at iGTB, having previously held a similar position at Finastra (formerly Misys). He is also Co-chair of ICC committee that published rules for Digital Trade (URDTT)

David has previously worked for Barclays, ICL/Fujitsu Services and SWIFT and has more than 40 years of experience in senior leadership roles across banking, software and consultancy. He is also the author of the ICC Guide to the Uniform Rules for BPO. More recently, he has assumed a variety of industry roles, including serving as co-chair of the World Trade Board (of which he remains a member). He is also an expert advisor to both the ICC Academy and the London Institute of Banking & Finance (LIBF).

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



IDC Financial Insights Innovation Award for iGTB Cash platform

London, 17 May, 2022: Intellect Global Transaction Banking (iGTB), is proud to announce that its iGTB Cash platform deployed at Vietcombank Cashup program has won the IDC Financial Insights Innovation Award 2022 Asia’s Best in Customer Interactions amongst 120+ high-quality submission from banks and insurers in APAC.

This marks the 2nd consecutive win for the iGTB Cash – VCB partnership at IDC’s Financial Insights Innovation Award (FIIA). In 2021, this partnership received the award for Best Bank in Vietnam for the Payments and Cash Management category for high quality technology deployment. Raising the bar in 2022 for superior customer stickiness and faster time-to market has led to a consecutive year of recognition and endorsement by IDC FIIA.

IDC FIIA 2022 23rd March 2022: IDC FIIA 2022 announced Vietcombank as Asia’s Best in Customer Interactions

Manish MaakanCommenting on the award, Mr. Manish Maakan, CEO, iGTB, said, “I’m proud and humbled by this recognition of our leading iGTB Cash Cloud platform. Now with this award, the iGTB-VCB combine has won 3 major analyst-endorsed awards in just 12 months. This is a testament not only to the technology platform, but the intense partnership with VCB to ensure that their privileged Corporate and Financial Institution Clients fully adopt and consume every feature of this platform. VCB has always laid emphasis on launching new products & services with a long-term view of helping its customers to grow. I congratulate them for this stellar success.”

Xiao liuAccording to Xiao Liu, Senior Market Analyst, IDC Financial Insights, “The CashUp program by Vietcombank is an excellent example of technology innovation and digital collaboration playing vital roles in providing delightful customer experience and improving operational efficiency in corporate banking sector. The bank’s movement to centralizing the transaction banking systems and enabling the omni-channel capabilities to allow the bank to configure products efficiently across channels at a centralized platform for maintenance and customization has done exceptionally well in accelerating the processes of new product and service launch and improving operational efficiency. Together with their partner Intellect Design, Vietcombank’s CashUp initiative is implemented successfully despite all the operational challenges and uncertainties brought by the pandemic through an effective collaboration between the local and remote team, which paves the way for similar banks in Vietnam and Asia to also adopt these best-practices of strengthening digital infrastructure to empower corporate banking processes and services.”

iGTB and Vietcombank receiving the IDC FIIA 2022
 iGTB and Vietcombank receiving the IDC FIIA 2022

23rd March 2022: iGTB and Vietcombank receiving the IDC FIIA 2022 award at the 18th edition of the Asian Financial Services Congress (AFSC), Singapore

About iGTB Cash Cloud

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. iGTB’s software products help Corporate Banks prepare for a new era of customer-centric services. With a rich suite of transaction banking products, across Cash Management, Payments, Liquidity, Trade Finance and Supply Chain Finance, iGTB is an authority on integrated transaction banking products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessl y integrates all the transaction banking needs of corporate customers, delighting them with the Contextual Banking eXperience (CBX), a white label digital transaction banking platform to manage corporates’ cash and trade digital channels. For more information on iGTB, please visit https://www.igtb.com/

iGTB Cloud is the world’s first fully-integrated & cloud-ready, Integrated Cash and Trade digital transaction banking platform is a high-performance, patent pending solution that is designed to deliver growth, create a foundation for business & service expansion, create simplicity in corporate onboarding powered by expertise backed user journeys, with replicable & robust operational processing and deployment certainty. More than 55 other global banking groups are benefitting from this world-leading solution which handles 50% of the total corporate collections’ transactions across India, Middle East & Africa. For more information, please visit https://www.igtbcloud.com

About Intellect Design Arena Limited

Intellect Design Arena Ltd, a cloud-native, future ready multi-product fintech platform for the world’s leading financial & insurance clients caters to the full spectrum of 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 to create 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 serves over 260 customers through offices in 97 countries and with a di verse 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.

Payments Limits Management in a Real-Time World

Corporate payments are at the focus of organizations and banks worldwide. While they bring in much needed operational liquidity and balances for banks, the risk of missing a cut off, delaying a payment or erroneously releasing a payment without suitable limit checks can have catastrophic consequences.

Through this whitepaper find out how iGTB Transaction Limits Management has helped banks improve STP and client satisfaction while reducing Basel III provisioning and operational costs.

Please fill in the form below to get whitepaper.



iGTB & Microsoft to establish Corporate Banking transformation on Cloud

Transaction banking transformation set for explosive growth as iGTB brings its digital platforms to Microsoft Cloud for Financial Services.

London, April 25, 2022: Intellect Global Transaction Banking (iGTB), the world’s first complete Global Transaction Banking Platform from Intellect Design Arena Limited, announced it will integrate Microsoft Cloud for Financial Services to accelerate cloud adoption and digital transformation initiatives of corporate banks.

The collaboration will see iGTB adopt Microsoft as its preferred cloud platform to remove traditional barriers of banking technology adoption, thereby help banks go-to-market 3 to 4 times faster with Liquidity, Cash Management, Payments, Trade Finance & Supply Chain Finance cloud offerings to their corporate clients. This collaboration is set to drive sustained banking digitalisation, help banks transform their corporate banking business models, modernise their cloud technology stacks, and consume “Banking-As-A-Service” out-of-a-box.

Banks can now get access to bank-grade secure and hyper-scalable cloud infrastructure paired with iGTB’s cloud-native banking technology to fully support burgeoning customer demands and regulatory needs.

Banks earned a colossal almost-$1 trillion from commercial banking,1 with high and growing demand for SaaS applications. Transaction banks, truly the heart of global commerce, serve over 200 million corporations worldwide2 with critical needs for unprecedented agility, for vital working capital and for the ability to navigate the shifts in supply chain. Corporate banks aim to spend by 2025 $9.3bn just on applications, with SaaS cloud spend growing to 25% of it.3

To accelerate cloud adoption of transaction banking platforms, iGTB and Microsoft will work together to jointly develop four specific platforms:

  • iGTB Liquidity for banks to offer their clients, already deployed in 57 regulated countries, that today sweeps over $4tr cash and pools over $35tr balances per year and recently the only offering rated Best in Class in an independent report from Aité-Novarica.
  • iGTB Cash Cloud: A comprehensive cash management platform – deployable with no Capex and resulting in 50% lower TCO with the ability to go-live in as fast as 10 weeks, and with three offerings:
    • CashNow: bringing innovation to the business banking segment, a ready-to-use platform with a 10-week go-live plan
    • CashXtra: rejuvenation of the critical Micro, Small, Medium Enterprises (MSME) banking market with an 18-week go-live plan
    • CashPower: a comprehensive platform that provides scale to servicing mid-size and large corporations that can go-live in as fast as 25 weeks.
  • iGTB Payments: Contextual Payments-as-a-Service platform to place banks at the forefront of payments modernisation initiatives built on a composable, micro-service, cloud-native architecture for elastic scalability. iGTB Payments today supports volumes of $500bn payments per day at a leading global bank and is available in 43 markets worldwide.
  • iColumbus.ai: Bringing Artificial Intelligence to the first and only integrated Trade and Supply Chain Finance platform that runs on an architecture that is built for the cloud. Named after the pioneer whose discoveries eventually opened up the world to truly global international trade, iColumbus.ai today underpins the largest trade finance transformation in Europe and the largest trade & supply chain finance transformation in Asia Pacific.

Manish MaakanManish Maakan, CEO, iGTB said, “I’m excited to bring iGTB’s capabilities to more banks and their corporates through Microsoft Cloud. I believe the commercialisation of corporate banking relies on getting the power of transaction banking platforms into the hands of as many banks as possible, and our collaboration with Microsoft is an important step along that path.”

Mr. Maakan added, “This collaboration with Microsoft allows just that: security and worry-free scalability while allowing the bank to launch products 3x to 4x faster, deploy updates and enhance the customer experience quickly and easily. Equally importantly, it frees up capital, lowers the complexities and risks associated with the traditional digital transformation, and significantly reduces time-to-value. We look forward to taking together “Banking-As-AService” proposition to 1000 banks across 70 countries, and helping them dramatically expand their transaction banking business at a lower cost.”

Commenting on the news, Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft said, “iGTB’s integration of the Microsoft Cloud creates a powerful platform for banks to streamline and modernize their transaction banking business in the cloud. Together, we look forward to delivering a faster path for innovation and responsible growth, with the hyperscale flexibility and security essential for the financial services industry.”

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 financia l 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/.

Source

1Source: McKinsey
2Source: Statista
3Source: Omdia

Neoteric allure of Cash Management Automation for SME’s

The neoteric allure of cash management automation for small businesses. It is time for a reality check…

“Making more money will not solve your problems if cash flow management is your problem” Robert Kiyosaki

Living in a rapidly expanding North Dallas suburb, my family is a big supporter of small sized businesses which are in plenty here. I like the fact that their services are unique with an individual identity that define them. Many of these local business owners are good friends of mine, and in recent times, I have heard scintillating stories about “surviving the great cash management crisis of 2020”, and I don’t have to go into the rationale of what caused the situation – we all know…

That said, the ever-resonating theme about managing money “smartly”, is something that I constantly hear from these local businesses, and it resonates so well with the quote above by Robert Kiyosaki, so much so, that I am literally reproducing it from a poster that one of my friends actually has hanging at the entrance to his modest office, and serves as my inspiration to write this article.

So why is this about the neoteric allure of cash management automation?

A typical google search will reveal more than 180 million hits in about 0.68 seconds to what a gazillion experts think about managing cash flows better. So you may want to ask me what really is neoteric (which by the way is a fancy way of saying modern) about this concept, and you may be tempted to caution me about peddling “old-wine-in-a-new-bottle”.

Bear with me while I explain further…

So first off, let us put a pin on some simple statistics that are common knowledge (or in other words, I am not making this up)

  • The US has more than 32 million small businesses,
  • that account for about 99% of all US businesses,
  • and they create 64% of new jobs annually,
  • and about 31% of them closed down in recent times,
  • and almost all of them due to their cash flows being unmanageable

In another intriguing statistic for 2020, the number of new small businesses that opened in the US (4.4 million) was more than the number of new born infants (3.6 million) and about 90% of these businesses closed down, a majority of them citing lack of sufficient cash flows as a primary reason.

That said, a fortunate number of these businesses survived the pandemic, by either –

  • re-structuring their businesses, where possible, to online selling models,
  • focusing on improving their product / service quality,
  • or focusing on better customer retention strategies

But the bigger takeaway was that a significant majority of the surviving businesses realized that their primary focus now would be on increasing stability to their cash flows.

No surprises there. I actually asked this specific question to every one of my local small-business-owner-friends, and got a unanimous YES from all of them on this specific criterion.

So coming to the point of why this is a neoteric allure…

These businesses have been asking, nagging and in some cases, demanding their banks to provide them with the right (and simple) solutions to manage their money and cash flows better. The banks have been listening – Literally every bank that I speak to as a part of my job on a daily basis have shifted their focus (or are in the process of doing so) to this hot segment of opportunity, and the drive to become their client’s principal banker is a mantra that I am sure they chant every morning as they start work.

On the other hand, the mammoth technology solutions that were traditionally driving cash / liquidity management solutions that these same banks provided to their large corporate clients were seen to be way too complex and confusing for these smaller businesses, so….

  • out goes the theory about old-wine-in-a-new-bottle, and…
  • in comes our neoteric allure – Which in this context is literally the re-invention of the compact and simple automation of cash management solutions that are tailored for these small businesses

So what really are these small businesses asking for?

Once again, I am not going to make this up. I actually spoke to literally every one of my local business owner friends and asked them this question. Their responses were predominantly unanimous.

I am a big fan of the Latin principle of “Omne Trium Perfectum”, or what many of us commoners refer to as “Good things are perfect in threes”, and that applies in this case too. So here are the three big asks of these small businesses, and there is absolutely nothing fancy about their needs.

1. “TRUE” CASH VISIBILITY

You may say “my bank gives me an online banking system that shows me the balances real-time, so what’s the big deal?”

Fair point, but what these business want is just a little bit more. They want to –

  • see a simple summary that consolidates all their accounts across ALL their banks (not just the bank’s website they are logging into)
  • see all their DDAs, loans, cards, investments together
  • view all their business and personal accounts in one pace, yet keep them visually distinct
  • view all their accounts across different physical locations in one place (some of my friends have their businesses running in multiple Texas cities)
  • get simple alerts about situations when balances go below (or above) a certain threshold
  • view, and be reminded about all invoices and bills that they have to pay and get paid for

Simple needs, right? Note that almost every one of these businesses do this today on spreadsheets and they spend 60 to 90 minutes every day on just these simple tasks which could otherwise be automated via simple tools that their banks can provide them

2. “SMART” CASH FLOW FORECASTING

Once again, this is a task that in the past (and sadly even in current times) has been achieved through spreadsheets by these small businesses, while those that could afford fancy tools subscribe to them at a higher cost, paying for complex solutions to solve a simple set of needs, which are to –

  • create simple forecasts for one or multiple accounts to create short term (10-15 days) forecasts
  • view easy-to-interpret visual representations of their cash flows, past, present and future
  • and since we are talking about future, a smart use of AI / ML to predict how the cash flow is going to look like in coming days / weeks (not months / years)
  • add these predictions into the cash flows to see the potential impact
  • pull in data from invoicing / accounting data (even excel or manually entered data) to make the data complete
  • play around with the data to create “what-if’s”

3. “AUTOMATED” CASH CONCENTRATION

As I mentioned earlier, many of these businesses have accounts in multiple locations and banks, and what may seem to be simple task to optimize their cash positions across these accounts is a herculean task that takes them multiple spreadsheets and manual fund transfers across multiple bank websites. So what they truly need here is the ability to –

  • setup very simple rules (no complex liquidity management sweeps, please) for automated cash movement / concentration across multiple accounts within or across banks
  • automate the movement of this money at specific frequencies (some of them told me that they even do this daily, and others weekly) and at a specific time of the day
  • get a nice and crisp report that shows the details of all the automated money movements in one view

So what do banks need to do to help their customers with this?

Some banks have already started implementing simple tools to help their customers in one (or maximum two) of these areas, but unfortunately only a very small subset of these banks are truly addressing all the three needs described above as one holistic solution for their customers.

In my view, what banks needs to be doing is to –

  • UNDERSTAND the emotional and contextual needs of the customer and their interactions. Banks are investing heavily in this space and looking at how the digital experience can become a lot more contextual by deriving the right intelligence from interactions and past historical trends of customers (I call this “Consumerization of Commercial Banking” – My earlier article on this topic can be accessed here)
  • SIMPLIFY the solution with very light components enabled through a self-service digital experience that is tailored for smaller businesses and avoid leveraging large liquidity management solutions typically used by large corporates
  • MODERNIZE their ability to integrate with the broader banking ecosystem by reducing dependency on prior file-based data sharing mechanisms like MT940/950, and replace them with API based ecosystems that enable instantaneous and real time sharing of data through an Open Banking framework
  • STRENGTHEN their technology infrastructure to focus on increased automation and customer self-service enablement, thereby REDUCE operational costs significantly

This is one space that I am curious to see evolving in the coming years, and I know that I will hear more about it from my local business-owner friends…

About the author

BalakrishnanPersonal blog of Balakrishnan Narasimhan, Senior Vice President and Head of Solution Consulting, iGTB – Digital, Payments and Cash Management – Americas


Disclaimer: The views, thoughts, and opinions expressed in the text belong solely to the author, and not necessarily to the author’s employer, organization, committee or other group or individual

Talk to the Author

Interested in learning how this can apply to your financial institution? Talk to the author to find out. Schedule a brief session to address any questions or thoughts you may have.

Intellect Announces Appointment of Uppili Srinivasan as President

Business Head for Digital, Payments and Liquidity recognised for outstanding contribution

London, February 1, 2022: : Intellect Design Arena Ltd, a cloud-native, future-ready, multi-product FinTech company for the world’s leading financial and insurance clients, today announced the appointment of Uppili Srinivasan, Business Head for Digital, Payments and Liquidity, as a President of the company

Mr Uppili Srinivasan, fondly known as Upps, has been a key figure in the development of what is now Intellect Design Arena for thirty years. Starting in 1992 soon after his graduation from BITS, Pilani, Mr Srinivasan had many successes at Citicorp Overseas Software unit (COSL), He then became a key figure in Polaris, leading a large Business Solution Center, and most recently has been a senior leader with Intellect Design Arena, where he has donned multiple caps, from Pre-Sales, Solutioning, Engineering, Delivery to Business Leadership – all successfully. Mr Srinivasan also has many wins and accolades to his credit: he has been a part of every significant deal that the business has won in its journey.

From designing Intellect’s first Digital product, Contextual Banking Experience (CBX) – which has been licenced by many banks, is used by corporations throughout the world, and remains at the technological edge with its latest MACH-compliant incarnation – to delivering the liquidity platform from Intellect Global Transaction Banking (iGTB) that runs over $4 trillion sweeps and $35 trillion notional pools per annum, he has worked on practically every single IP platform of COSL/Polaris/Intellect, from Core Banking to Lending to Corporate Banking. Mr Srinivasan now leads one of the key successful business units that power Intellect’s success in the Western hemisphere.

Arun JainMr Arun Jain, Chairman and Managing Director, Intellect Design Arena Ltd, commented, “Intellect is now well advanced on its transition from a product company to a fintech platform, and I am delighted to appoint Upps, an astute business manager who focuses on end-to-end value creation, as a President of the company in recognition of his contribution.” He added “A significant contribution from Upps has been the number of leaders he has groomed that are today in pivotal roles across Intellect. We see Upps as a holistic and inspirational leader – for his passion, ability to put the organisation and team ahead of himself, result orientation, focus on the last 2%, customer centricity and above all honest, hands-on leadership approach.

SrinivasanMr Srinivasan said “I am honoured to be recognised in this way and it has been a tremendous journey. Creating value for banks is a passion of mine and with Intellect I have been fortunate to be able to do that across products, markets and customer segments. Intellect is a unique place that values and encourages personal and business growth. I look forward to steering my business and Intellect itself as we fulfil their huge potential with growing shareholder value in the years to come.”

About 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, contextual banking CBX, 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.

About Intellect Design Arena Limited

Intellect Design Arena Ltd, a cloud-native, future-ready multi-product fintech platform for the world’s leading financial & insurance clients caters to the full spectrum of 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 to create 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 serves 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 further information about the transaction banking solutions offered by iGTB, please visit https://www.igtb.com/