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.

SIBOS 2019 Cruise Dinner and Party

Catch a glimpse of one of the biggest highlights of Sibos 2019. The iGTB flamenco cruise trip along the Thames.

Want to see iGTB Transaction Banking products in action? Request a live demo

In this free, 15-minute demo discover why the worlds best corporate banks bank on iGTB.

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Abu Dhabi Islamic Bank (ADIB) Goes Live with Intellect’s Digital Transaction Banking

iGTB solution key to the digital transformation of ADIB’s end-to-end  transaction banking services, empowering the bank to provide convenient, rapid and more operationally efficient services.

Abu Dhabi, 24 September, 2019: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the fastest growing Fintech product company with CAGR of more than 24% over the past five years, has announced the successful go-live of its Digital Transaction Banking platform “ADIB Direct” from Abu Dhabi Islamic Bank (ADIB). The new platform integrates a suite of banking solutions into a single, streamlined interface that includes account services, payments, collections and receivables, liquidity management services and the mobile, tablet and iWatch interface. ADIB customers can benefit from one central view of ADIB’s wide range of new banking features, and improved functionality to manage their finances locally and internationally.

Haytham Elmaayergi,  Global Head of Transaction Banking at ADIB, said: “It is now more imperative than ever to incorporate the best possible digital solutions available in the market to serve our customers. ADIB Direct responds to this demand for convenient and cost-effective access to banking services. The award winning platform allows businesses from SMEs to large corporations to efficiently manage their cash, liquidity, trade finance and foreign exchange needs on 24×7 and from their own desk. We are happy to partner with iGTB on this digital transformation journey.”

Manish Maakan, CEO, iGTB, said: “We are delighted to be part of the ADIB’s #ADIBinYourOffice digital transformation journey, especially given the Middle East’s strong position as a hub for global trade. This digital go-live reiterates our exceptional delivery capability, which has gone through more stringent quality assessments during SIT and UAT. Our unwavering design-driven culture puts banks and businesses at the centre of everything we do. This not only creates desire and establishes trust with banks, but also results in a distinct advantage for them.

ADIB is currently implementing a digital transformation strategy to boost the bank’s productivity and enhance the customer experience and has received numerous awards for its digital and trade financing offerings in recent months including ‘Best Islamic Financier’ at the International Trade Finance Awards 2019 and ‘Best Islamic Digital Bank’ by Global Finance. It was recently awarded with the best online cash management in Mena region by Global finance.

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 www.intellectdesign.com. For further information about the transaction banking solutions offered by iGTB, please visit www.igtb.com

For Media related info, please contact:

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

Enabling Business Context in Payments

Payments modernization has opened a new realm of possibilities in multiple geographies. New payment rails driven by sophisticated technology solutions with a robust security framework are being introduced in various markets. The availability of a wider variety of such payment options leads to an obvious landscape of wider choices to the end  customer, while allowing Financial Institutions to drive revenue growth due to differentiated services and offers that they can now offer in the market.

The white paper:

  • Defines the need for being contextual and why it is relevant to payments
  • Talks about key market behaviour and trends that are driving the need to be contextual for payments
  • Provides views on how availability of data and related tools (ML, AI, etc.) are accelerating the ability to become contextual at a much faster pace
  • Highlights a few examples of how banks can take a progressive approach to being contextual in payments as a starting point, and eventually expand this into contextual banking
  • Showcases the architectural paradigm shift that can make this happen

Please fill in the below form to get your copy of the Enabling Business Context in Payments white paper

Booth K17 Discover Contextual Banking

Meet us at Money 20/20 USA to see how Intellect and IBM LinuxONE combine industry leading capabilities to deliver a differentiated real time banking platform: security, scale, performance and 24x7x365 availability!

CBX is the first digital banking platform built for a bank’s business and commercial clients that is context aware and uses AI and machine learning to optimize transactions, anticipate working capital requirements and deliver key and actionable insights.

We will share our experiences and best practices in helping clients develop, build, and operationalize their solutions. Intellect’s Contextual Banking provides a high degree of performance using LinuxONE

Two Raiffeisen Landesbanken 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