iGTB appoints Herber De Ruijter as new Head of Digital for Corporate Banking

London (UK), June 21 2016: Intellect iGTB, the organisation behind the world’s first comprehensive global transaction banking solution, has appointed Herber De Ruijter as its new Head of Digital, responsible for Product Strategy and Development of Intellect’s Digital offerings for Corporate Banking.

Herber joins iGTB from solutions provider Backbase, where he was responsible for product development as well as leading the company’s American business and operations.

Herber brings more than two decades experience in product strategy, business development and product development to the role. Prior to joining Backbase, Herber previously worked for experience management vendor SDL Tridion, where he was Head of Operations of North America.

“Herber has a long and successful background in developing innovative technologies that support clients’ needs and appetites, particularly within the financial services industry. We are delighted to have him on board and look forward to adding his experience, energy and excitement for change to our market-leading approach to providing full-suite transaction banking products,” says Manish Maakan, CEO of iGTB.

Herber De Ruijter comments: “iGTB’s product IP and deep knowledge of the Transaction Banking domain is truly impressive, and something I am looking forward to helping develop further. As well as supporting iGTB’s position as a real thought leader and innovator in this area, my main objective is to help financial institutions accelerate their digital transformations through design-centric and context-aware technologies.”

Herber will be based out of Intellect’s New Jersey office.

About Intellect Design Arena Ltd:
Intellect Design Arena Ltd is a specialist in applying true Digital Technologies across Banking and Insurance technology products company, across global consumer banking (iGCB), Central Banking, Risk Treasury Management (iRTM), Global Transaction Banking (iGTB) and Insurance (Intellect SEEC).

The Intellect design philosophy, a key differentiator in developing solutions for the transformative agendas of CXOs, ensures a dramatic shift from disjointed digital activities to strategically aligned digital outcomes. Intellect’s FT 8012 Design Centre, the world’s first Design Centre for financial technologies, is a physical manifestation of enterprise commitment to design. It powerfully connects dots between Business, Technology and Operations, and accelerates the transformation process for customers.

Intellect generates annual revenues of more than USD 100 million, serving more than 200 customers through offices in 40+ countries and a diverse workforce of more than 3,000 solution architects, domain and technology experts, industry veterans, and reputed marketing and sales professionals, in major global financial hubs around the world. For further information on the organization and its solutions, please visit http://www.intellectdesign.com/. For information on the solutions for global transaction banking, please visit https://www.igtb.com.

iGTB helps Euro Exim Bank boost due diligence with risk-based cognitive computing platform

London (UK), June 17th 2016: Intellect Design Arena Limited’s iGTB division, the world’s first comprehensive global transaction banking solution, announced today that Euro Exim Bank, the trade finance specialist, is to implement DDIQ: the most advanced due diligence tool for compliance.

Delivered by iGTB, the solution’s combination of automation and intelligent interpretation will significantly enhance Euro Exim Bank’s due diligence and “Know Your Customer” (KYC) processes. Incorporating cognitive computing and natural-language processing, the enriched client profiling offered by DDIQ will enable the Bank to more readily meet regulatory obligations and minimise risk, all while reducing the time and cost incurred by such KYC processes. As a trade finance provider that serves import and export businesses around the globe, and registered by the UK’s Financial Conduct Authority, Euro Exim Bank’s operations will immediately benefit from the most comprehensive due diligence check available to date.

“The cross-border nature of our business – involving numerous buyers and sellers, international clients and counterparties – naturally makes due diligence critically important,” says Graham Bright, Head of Compliance and Operations, Euro Exim Bank. To be able to run (and easily re-run) KYC checks at the deepest level currently possible all the while reducing the time and cost of false positives and manual assessmentwill enable us to focus our efforts on what we do best; facilitating trade and investment.”

iGTB’s implementation of DDIQ will see Euro Exim Bank benefit from:

  • A contextual and subject-aware adverse media search, using underlying sources ranging from regulatory databases and watch-lists to sanctions lists, politically-exposed person (PEP) lists, legal databases, the open web and premium structured content
  • The flagging of potential high-risk suspects before their appearance on official watch-lists
  • The production of auditable reports that can be re-run without the need to re-assess previously reported data, and
  • The option to continuously monitor subjects and entities for risks

Furthermore, DDIQ now automatically checks subjects against the 200,000+ offshore entities and individuals associated with the 11 million documents connected to the “Panama Papers” scandal.

“At a time when the cost of breaking sanctions is estimated to cost financial institutions US$12 billion, it’s more important than ever that firms can have absolute faith in the strength of their due diligence processes, using a solution that conducts the deepest search possible while eliminating out-of-context ‘noise’”, says Manish Maakan, CEO, iGTB. “We are delighted to equip Euro Exim Bank with this capability in the first deal of its kind in Europe, and the on-demand software means the Institution can reap the benefits immediately.”

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, progressive financial institutions rely on for digital transformation initiatives.

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

About Euro Exim Bank Ltd:

Euro Exim Bank Ltd consists of Euro Exim Bank Limited and Euro Exim Bank Ltd (representative bank). Headquartered in Banjul, The Gambia, Euro Exim Bank serves import and export businesses, through an online portal (http://www.euroeximbank.com/). Euro Exim Bank is a new breed of financial institution, aiming to be where the growth is, connecting customers to opportunities and enabling business to thrive. For more information, please visit http://www.euroeximbank.com/.

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