iGTB achieves SWIFT Certified 2021 for Trade Finance product

Intellect Global Transaction Banking (iGTB) achieves SWIFT Certified 2021 status for its market-leading intelligent Trade Finance product

Validation for iGTB’s Trade Finance solution as a SWIFT-compatible product reflects iGTB’s ongoing commitment both to its partnership with SWIFT and to its efforts to enhance economic inclusion and sustainable (track’n’trace) trade as part of digital (paperless) transformation 

London, September 23, 2021 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, is delighted to announce that its Trade Finance product has been awarded the SWIFT Compatible Application Trade Finance Label for 2021. This is the 3rd consecutive year that iGTB’s fully digital Trade Finance product has been awarded this label. It demonstrates the solution’s exceptionally strong capabilities to align to complex and evolving SWIFT Standards while embracing both digital transformation (including the much-sought-after goal of paperless) and sustainability (including the universal need now for product track’n’trace).

SWIFT Compatible Application labels are awarded exclusively to providers that deliver quality services and products to their customers while acting in accordance with the highest professional standards. The awarding of this label is compelling evidence that the iGTB Trade Finance product adheres fully to the specified criteria for SWIFT FIN (MT) messages, SWIFT connectivity and SWIFT interoperability.

iGTB’s intelligent Trade Finance product has been fully updated with all of the changes required not only to enable a client bank to remain SWIFT-compliant, but also to revolutionise the bank’s trade business with an enhanced range of digitised products and services, including intelligent data extraction form its AI/ML IDX “paper-killer.” iGTB recognises the market-driven ambition of SWIFT to introduce more structured data into transaction processing: this simultaneously opens up the opportunity for banks to enhance workflow and to drive innovation. In order to help a bank take full advantage of the additional value this data structuring brings, iGTB is not simply replacing one message type with another, but taking into consideration how these changes can transform the overall Contextual User Experience.

manish-maakan-ceoManish Maakan, CEO, iGTB, said “This latest award validates our ongoing commitment towards adopting and sustaining industry standards across the entire global banking industry, and it comes on the back of having completed Europe’s largest ever trade finance transformation project. Global trade has trebled since 2000 reaching over $18 trillion, so the need for strong digital trade finance has never been higher. I am delighted that we can demonstrate accredited high quality.”

Maakan added, “Digitalization is central to sustainable trade finance. With iGTB Trade Finance, banks will combine technological innovation and digitalization with sustainable business practice, driving innovation and growth, whilst at the same time supporting the transition to a sustainable economy. iGTB’s Trade Finance team is committed to deliver unparalleled solutions that are both innovative and transformational, supporting economic inclusion and sustainability.”

In today’s world where more than 90% of trade messages are communicated via SWIFT, this label is another feather in the cap for iGTB’s Trade Finance product, which is designed to automate every step of the trade finance business, with integrated workflow management, service level management and electronic document management processing. The solution is designed to satisfy and support the complete processing and reporting needs for documentary credits, collections, guarantees and reimbursements. It also includes the full range of SWIFT MT798 Corporate to Bank (C2B) and Bank to Corporate (B2C) messages.

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. 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 Digital Transaction Banking, 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 seamlessly 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 portfolios. For more information on iGTB, please visit https://www.igtb.com/

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 (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 their 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 250 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.

Aité Novarica’s case study of Santander fuelled by iGTB

Santander achieve “an incredible 70% average improvement of KPIs” say Aité-Novarica in their independent case study of the Santander’s Cash Nexus Global Payments platform, fuelled by iGTB

iGTB congratulates Santander on the remarkable and successful rollout of this new corporate payments platform to 15 countries across three continents from a single installation, powering a basket of quantified, impressive results.

London, September 9, 2021: 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, is honoured to have played a part in this remarkable transformation, recognised by Aité-Novarica, the leading independent financial services insights and advisory firm.

Their Payments Case Study report “Implementing a Market Leading Global Payments Platform,” by highly respected analyst Erika Baumann, Research Director, Commercial Banking and Payments Practice, and published today, shows how Santander, one of the largest banks in Europe and the 16AiteNovearicath largest banking institution in the world, “created a market-leading global payments platform that did not previously exist in the market.”

Implementation of this platform led to an enviable 70% average improvement of key performance indicators around client implementation time, transaction processing, and connectivity.

As a global financial institution with footprints and clients in multiple geographies, Santander faced many challenges in providing a consistent payment or service experience across regions to its corporate clients, including navigating the local payments network and regulatory mandates for 15 countries on 3 continents.

Santander launched Cash Nexus, partnering with iGTB and using its Payments Service Hub, a channel for corporate collection and payment transactions in various countries, using international standard formats such as ISO20022. It is a single payments platform for all global regions that provides Santander’s clients global visibility into accounts from this single platform, available through multiple channels, from which they can initiate and track all incoming and outgoing payments.

It also provides agility to Santander in onboarding new customers – while reducing time to market. As a result of this successful initiative, Santander was not only able to create a differentiated and superior client experience for its corporate clients, but create impressive, quantified results:

  • reduce average client implementation time by about 70%
  • increase transaction performance capabilities by an impressive 75%, and
  • become self-sufficient in implementing new countries in 65% less time.

The platform provides Santander clients with a unified payment experience with robust payment capabilities to access local schemes for domestic and cross border transactional needs and helped Santander to bring future-forward functionality and roadmap – including access to instant payments, real time liquidity, API based models and cloud based models – to the market.

The case study also highlights how iGTB’s market expertise and knowledge of the core markets Santander operates in (including Europe, the US and Latin America, specifically Brazil and Argentina that have complex regulatory environments and financial cultures) made it the vendor of choice for Santander in its transformation journey. If further calls out how the deep partnership and synergy between the two made these results possible, and shifted Santander’s position in the market to a true global payments leader.

Jose LuisJose Luis Calderón, Head of Global Transaction Banking, Santander, commented, “Recognizing that changing the payment platform is changing the heart of the bank, the partnership between Santander and Intellect has allowed Santander to bring the heartbeat and finish line of the future into today’s reality”.

Christine Barry, Head of Banking and Payments Insights at Aite-Novarica, says, “The partnership between Santander and Intellect Global Transaction Banking has created a market-leading global payments platform that did not previously exist. With the implementation of this new platform, Santander was able to transform its earlierCarlos Denche limitations, arising of its unique structure of local subsidiaries operating as independent financial institutions catering to local payment networks and regulations, into a clear market advantage, maintaining the local payment capabilities and relationships while creating a unified, single global payments platform. From a market perspective, the innovations reached through this partnership have created a new path for financial institutions to adopt a similar approach to streamline global operations, increase payments performance, penetrate local payment networks, and reduce client implementation timelines.”

Carlos Denche, Global IT Head for Global Transaction Banking, Santander, added, “Comparing the capabilities of new system with old one, the new system is much more flexible for operations to configure and operate, providing greater opportunity to run services in a way that accommodates how payments are evolving, readiness of further API connectivity, development of new payment tools, and more aggressive KPIs.”

Manish Maakan, CEO of iGTB, commented “What Santander has achieved is very impressive – to provide such amanish-maakan-ceo strong and consistent global customer service with rapid customer responses and catering to so many different country regimes. I am committed to corporate bank transformation and so I am delighted that iGTB played its part in the bank’s success from this single, global installation. This independent report adds another success story to validate our claim that the world’s best corporate banks bank on iGTB.”

About Aite-Novarica Group:

Aite-Novarica Group is an advisory firm providing mission-critical insights on technology, regulations, markets, and operations to hundreds of banks, payments providers, insurers, and securities firms as well as the technology and service providers supporting them. Their core values are independence, objectivity, curiosity, and a desire to help all participants in financial services create better, more effective strategies based on data, well-researched opinions, and proven best practices. Their experts provide actionable advice and prescriptive business guidance to our global client base. Learn more at https://aitegroup.com/

About Santander:

Banco Santander is a leading retail and commercial bank, founded in 1857 and headquartered in Spain. It is the fourth largest bank in Europe by AUM and has a presence in all global financial centres as the16th largest banking institution in the world. As of 2020, Banco Santander had assets of EUR 1.5 trillion and over 190,000 employees.

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 Payments, Digital, Liquidity Management, Virtual Accounts, Trade and Supply Chain Finance, 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/

Intellect iGTB’s deal with a leading Islamic Bank in APAC

Read about iGTB’s latest deal with a leading Islamic Bank

London, 26 August 2021: 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 two years in a row, today announced a significant deal win with a leading Islamic bank in APAC to completely digitize and streamline its cash and trade transaction banking technology offerings.

The deal is powered by iGTB’s Digital Transaction Banking platform that delivers a seamless digital experience to grow the bank’s corporate customer base. With this deal, there are now 55 global banking groups that are benefitting from this world-leading platform which handles 50% of the total corporate collections’ transactions across India, the Middle East & Africa.

The platform works out of the box, and has a remarkable span of coverage including modules for cash management, account services, trade finance, supply chain finance, collections & receivables, liquidity management and virtual accounts. This suite is powered by the award winning omni-channel front-end CBX customer experience suite and full range of mobile banking services covering inquiries and initiations. What makes this deal unique is that the platform is powered by a common onboarding and common user experience across all the TB product lines. This is only possible due to the seamless, integrated design of the platform, which creates immense value for bankers and their corporate treasurers to view Operations & CXO dashboards across multiple product lines.

Digital Transaction Banking platform with Corporate Banking Exchange (CBX) is a key asset of this deal. It is the customer-facing Omni-channel solution that enables the bank’s customers to manage their Transaction Banking services online. Readily available on Desktops, Laptops, Tablets or Mobiles, CBX aims to deliver a seamless user experience. The Account Services module offers information across their various current accounts, deposits & loans. CBX as the unified channel helps customers monitor their banking transactions and offers rich analytics that serves as decision-making aids.

The channel is supported by underlying product processors for specialized services that will help the bank define tailor-made offerings to suit its various corporate segments. The payment product processor offers all local payment products Jompay, DuitNow, IBG, IBFT, RENTAS, SOSCO Upload, LTH Upload, LHDN Upload, KWSP Upload. In addition, it comes pre-configured with local tax functionalities thereby giving the bank a solution that is truly market-ready. Corporate customers with multiple accounts can effectively maximize their idle fund’s usage through the Liquidity Sweeping Processor. The bank can set up multiple structures for the corporates, which can optimize their cash balances and specify pre-agreed conditions for execution.

Trade Finance and Supply Chain Finance platform from iGTB is another key component of this deal. It’s an integrated front to back application that is built using new tech-enabled business models to support open API’s, scalability, Innovation and a world-class UX to drive customer adoption. The bank will now be able to offer a SWIFT 2021 Complaint, Conventional and Islamic Trade Finance products. Additionally, the integrated supply chain finance platform will enable the banks to exponentially grow their assets by offering a wide spectrum of ‘Buyer Led’ and ‘ Supplier Led’, products and programs to attract the ever-growing open account trade flows business.

About 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 and Supply Chain Supply, iGTB is an authority on integrated products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessly 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 portfolios. For more information on iGTB, please visit https://www.igtb.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 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.

How on earth can banks differentiate in an open finance world

How on earth can Corporate Banks differentiate in an open finance world?

Understand how a corporate bank operating model needs to change, what UX you could offer to whom (and built by whom), and how your APIs can be the ones your clients prefer.

iGTB in partnership with Coalition Greenwich with special guests from FAB and Accenture are pleased to present the virtual event on “How on earth can Corporate Banks differentiate in an open finance world?

In this session, participants will gain insights about:

  • The future of corporate and transaction banking operating models and how banks need to offer their services
  • How you can have fine-grain control and continuity of the UI and UX (yourself or with a specialist) decoupled from the back end, whilst still getting the speed, time-to-market and prior-investment benefits of having a technology partner: onboarding, entitlements, intelligence about the domain (whether payments, cash, collections or trade) are all needed even for headless
  • Understanding of the architecture needed to make ‘experience APIs’ and the corporate banking ‘operating system’, so that the APIs competitive to API-connected users, whether large corporates or co-operative/competitive fintechs
  • What DXP and MACH architecture are, and how much you need to understand them (DXP = Digital Experience Platform, MACH = Microservices, API-first, Cloud-native and Headless.)

Speakers

Yuri Misnik,
Group CTO, First Abu Dhabi Bank
José Navas López Global Banking Lead, Accenture
Dr Tobias Miarka,
Co-Head of Banking, Coalition Greenwich
Mike Rayfield,
SVP Digital, iGTB

We bring you the recording of this session, so you can watch, learn, analyse and take away the insights at your convenience.

Please fill in the form below to view the full recording and Q&A of the session.



iGTB Optimise Liquidity Management for Societe Generale

iGTB Optimise Liquidity Management for Societe Generale

iGTB’s world-leading, contextual Liquidity Management Solution will offer Societe Generale and its corporate clients a way to optimise liquidity, while unleashing trapped cash, reducing risks and mitigating the effects of negative interest rates.

London, 03 May, 2021: 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, today announced it will support Societe Generale, a major player in the economy for over 150 years, supporting 29 million clients every day with 138,000 staff in 62 countries, in implementing the world’s #1 Liquidity Management solution.

While 2020 was a year of great resilience, it has highlighted the urgent need for banks to deliver to their corporate clients significantly increased sophistication in corporate Treasury and Liquidity Management through automation and digitalisation. New capabilities are required to meet the combined challenges presented by negative interes rates, restrictions on cross-currency and cross-border cash pooling, increasing expectations for self-service and delivering cross-functional efficiencies to corporate treasurers. At the same time, financial institutions have been carefully shoring up balance sheets and driving operational efficiencies to ensure appropriate levels of strength to contend with an uncertain economic environment.

In this context, Societe Generale has chosen Intellect iGTB for its world-leading Liquidity Management System (LMS).

iGTB’s LMS, and its associated Liquidity Management suite of products, is designed with the premise that every Euro of corporate liquidity will – at some stage – be a Euro of bank liability. LMS’s best-in- class real-time cash pooling is augmented with an array of tools for the corporate treasurer to deliver fully automated liquidity management across multiple accounts, multiple entities, multiple currencies, multiple geographies and multiple banks. To support the symbiotic relationship between the corporate treasurer and the bank, iGTB’s Liquidity Management suite offers processors to improve the bank’s balance sheet metrics and, simultaneously, deliver appropriate value to corporate liquidity and deposits.

In line with its strategy to focus on client centricity and increase operational efficiency, Societe Generale is particularly enthusiastic to work with iGTB, who has a strong track-record in working with large global banks. Societe Generale is confident that together they can bring best-in-class solutions to its corporate clients.

Manish Commenting on this announcement, Manish Maakan, CEO, iGTB said, “This win further demonstrates how iGTB, in partnership with leading banks like Societe Generale, is the market leader for Liquidity Management. The decision of Societe Generale to choose iGTB to support the Bank with its digital transformation journey and growth plans is a reflection of Societe Generale’s commitment to increase customer satisfaction while preparing for the future. This new Liquidity Management partnership means that four of the six largest banks in Europe are clients of iGTB, reinforcing our position as the partner of choice for the world’s largest financial institutions and underpinning our world-leading position in Liquidity Management and Transaction Banking.”

iGTB’s Liquidity Management Solution is a 100% cloud native liquidity management platform that includes out-of-the-box core capabilities such as cash sweeping, notional pooling, inter-company lending, investment sweeps, fund NAV (Net Asset Value) processing, real-time cash control and the latest in client user experience. LMS is the industry leader for banks offering liquidity products to corporate customers. Sweeping over $4 trillion cash annually, allocating interest on $35 trillion of notional pool balances and licensed by more than 40 financial institutions worldwide, LMS delivers a superior, sophisticated, multi-account, multi-entity, multi-currency, multi-geography, multi-DDA, multi- bank client experience. Live in 57 countries, LMS has demonstrated the ability to meet different regulatory, tax and legal requirements from around the world.

About 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 helpscorporate 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, thatleverages 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 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/

Transform liquidity management from zero-sum to win-win

Normally corporations benefit from liquidity management at the expense of the bank, whether from having to offer pool interest rates, running limit risks or fundamentally, taking high risk assets such as non-operational accounts onto the bank’s balance sheet.

“Every dollar of corporate liquidity is a dollar of bank liability.”  But recent developments in liquidity mean we can satisfy corporations without compromising the bank.

iGTB in partnership with Coalition Greenwich and special guests from Société Générale and Unilever are pleased to present the virtual event on transforming liquidity management from a zero-sum game to a win-win for all stakeholders

In this session participants gain insights into:

  • Research survey finding of treasurers’ pain points
  • Data on banks’ current large appetite and how banks can create the win-win
  • Intelligent ways for banks to manage corporate liquidity in a way that benefits their balance sheet and HQLA

Speakers

Philippe Penichou,
MD, Head of Payment & Cash Management
International Network, Société Générale

 

Philip Sasse,
Vice President Treasury,
Unilever

 

 

Dr. Tobias Miarka,
Co-Head of Banking,
Coalition Greenwich

 

 

Joshua Cohen,
Head of Liquidity Management
Solution, iGTB

 

 

 

 

We bring you the recording of this session, so you can watch, learn, analyse and take away the insights at your convenience. 
 Please fill in the form below to view the full recording and Q&A of the session.



Vietcombank wins IDC Financial Insights Innovation Award 2021

iGTB Powered Vietcombank wins IDC Financial Insights Innovation Award 2021

 

London, 8th  April, 2021: 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, are delighted to congratulate Hanoi-headquartered Vietcombank for winning the IDC Financial Insights Innovation Award 2021 Best Bank in Vietnam for their Payments and Cash Management system initiative.

The well-known IDC Financial Insights Innovation Awards aims to recognize outstanding achievements in the financial sector for the use of technology. The awards program honours Asian financial services institutions who have realized  business outcomes well through the novel application of IT innovation. Vietcombank received this award for many notable achievements, among which included improving customer stickiness, acquisition of new customers, faster time-to market and product readiness.

Also cited was Digital 360 –the full seamless, omnichannel access by businesses to banking services using any device or channel, information from other banks, and integration with other services and access to external data sources – powered by iGTB’s Digital Transaction Banking (DTB) Enterprise Suite. iGTB’s DTB Enterprise Suite delivers a superior omnichannel customer experience to grow the bank’s corporate customer base and prepares banks to provide for every client’s and every sector’s needs with a contextual, configurable and intelligent platform that provides real-time insights and encompasses every aspect of transaction banking. With DTB, transaction banks can successfully reduce their operational expenses and provide a seamless user experience with the ability to improve productivity and lower the TCO, maximize fee-based revenue, create new avenues to cross-sell and up-sell and acquire new customers.

Also read how iGTB enabled Vietcombank to digitally transform wholesale banking services with VCB CashUp powered by iGTB’s Payments and Cash Management

ManishCommenting on the award, Mr. Manish Maakan, CEO, iGTB, said,“iGTB congratulates Vietcombank for this prestigious Financial Insights Innovation Award from IDC, one of the premier global providers of market intelligence and expert advisors on technology.  We applaud the vision of Vietcombank to enhance their digital proposition in Vietnam for corporates, create customer stickiness with the ability to quickly respond to customer changes, backed by configurable technology platform by iGTB for faster responsiveness to the market needs.”

He added, “iGTB’s DTB Enterprise Suite powers more than50 global banking groups across APAC, Middle East, Africa and South Asia. The evidence further shows that the world’s best corporate and transaction banks succeed across the world in partnership with iGTB.”

According to Darshiniy Selvaratnam, Program Director of the IDC FIIA 2021, Vietcombank’s proposition as the Best Bank in Vietnam was awarded for excelling in the category of Foundation, that covers the infrastructure capabilities underpinning digital transformation strategies. The payments and cash management system is a prime example of integrated banking infrastructure with cross-product transaction flows that powers growth and innovation, setting the pace for the wave of digital transformation in Vietnamese banks.

The Digital 360 program has also demonstrated stellar performance in providing operational excellence through lean operations and the better management of technology resources.”

About iGTB’s Digital Transaction Banking platform

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 DTB, Payments, Liquidity, Trade and Supply Chain Supply, iGTB is an authority on integrated products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessly 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 portfolios. For more information on iGTB, please visit https://www.igtb.com/

The Digital Transaction Banking Enterprise Suite (DTB) from iGTB 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 50 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.igtb.com/dtb

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. 

Vietcombank launches VCB CashUp powered by iGTB Payments

 iGTB’s Payments and Cash Management System in action at Vietcombank’s Launch of VCB CashUp 

This Launch digitally transforms wholesale banking services and accelerate Vietnam’s digital economy 2025 roadmap with VCB CashUp

iGTB’s strategic partnership with Vietcombank along with local player FTP Information Systems will enhance corporate customer delight by focusing on operational efficiency, reduce complexity and cost for all segments – Large Enterprises, State-Owned Enterprises, FDI& Financial Institutions.

London, 10th March, 2021: 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, today announced that Hanoi-headquartered Vietcombank has now deployed iGTB’s next-generation Digital Transaction Banking Enterprise Suite (DTB).

This Enterprise Suite delivers superior channel experience to grow the bank’s corporate customer base, create customer stickiness with the ability to quickly respond to customer changes, in-built configurable product setup for faster responsiveness as the market evolves. It also helps reduce Vietcombank’s operational expenses and provides a seamless user experience with the ability to improve productivity and lower the TCO. VCB CashUp includes Digital Payments, Enhanced Liquidity Management, Supply Chain Finance, Virtual Account Management, Electronic Cash Collections & Receivables, Bill Payments, Host-to-Host services and other advanced functions such as Information Reporting, Cashflow forecasting, and Mobile Banking.

According to Mr. Dao Minh Tuan, Deputy General Director at Vietcombank, “The National Digital Mr. Dao Minh Tuan Talks about Vietcombank VCB CashUpTransformation Roadmap 2025 (with a vision for2030) provides a charter for the digital economy to reach US $52 billion growing at 30% by strengthening digital infrastructure for wholesale corporates & SMEs, innovating banking technology products and ‘Make in Vietnam’ mission. With VCB CashUp Digital Transformation, Vietcombank is all set to become the first Vietnamese bank to digitise all payment activities and cash flow management of institutional customers. Vietcombank’s aim is to digitise operations, products, and services, enhancing its proposition to Wholesale clients including Corporate with revenue up to US$ 5 mil and Financial Institutions. This ensures meeting the diverse and advanced needs of customers, thereby confirming Vietcombank’s superior position to become a leading digital financial institution in the region.”

He added, “VCB CashUp is a key, large-scale Information Technology program and is of significant importance to Vietcombank’s business in the coming years. Vietcombank has spent 2 years studying the pre-feasibility of the project and submitting it to the State Bank for approval until it selected iGTB for ensuring success in implementing the project.”

According to iGTB CEO, Mr. Manish Maakan, “More than 50 global banking groups across APAC, Middle East, Manish Makaan Talks about Vietcombank VCB CashUpand South Asia & Africa transact daily and in huge volumes on the DTB Enterprise Suite. This latest transformation deepens Intellect’s portfolio in Vietnam, with currently 9 clients across the country. This dominance demonstrated in Vietnam, is the latest illustration of our market coverage strategy yielding dividends across our client portfolios in APAC, Middle East, Europe and Americas.”

Mr. Maakan added, “Vietcombank, through this high-performance technology has now set the benchmark in Vietnam with new capabilities to launch new products and services faster, reduce systemic overheads & TCO and through pre-configuration acquire new corporate customers. iGTB’s Vietnam ready DTB Enterprise Suite is a result of years of investment into adapting DTB to local Vietnamese regulations & payment systems, backed by iGTB’s boots-on-the-ground local relationship managers, delivery teams out of Hanoi, and an exclusive partnership with FTP Info services, a highly experienced technology services organisation with deep Vietnamese roots.”

Key Highlights

  1. Vietcombank now offers iGTB’s Digital Transaction Banking (DTB) with the focus on payments and cash management capability to corporate clients, which helps deliver a seamless mobility driven user experience with a rich product suite including Digital Payments, Enhanced Liquidity Management, Supply Chain Finance, Virtual Account Management, Electronic Cash Collections& Receivables, Bill Payments, Host to Host services and other advanced functions such as Information Reporting, Cash flow forecasting.
  2. Innovating around the pandemic: Travel and operational restrictions were overcome to ensure commitment to timelines by creating tighter co-ordination avenues between business and teams, leveraging secure remote connections to manage application infrastructures and online tools to ensure daily and regular interactions between all parties. The adoption of agile implementation framework ensured that multi-system interfaces & integrations rolled out smoothly and adhered to the overall planned timelines.
  3. Reducing the time-to-market: The platform is built on Service Oriented Architecture principles that enable modules to be quickly stitched together for developing a comprehensive solution, thus allowing the bank to get quick returns on their investments. As a result, products can be quickly launched to offer value-added services to the bank’s customers.
  4. Improving customer stickiness: This platform across Cash, Liquidity, and Supply Chain will enhance operational efficiencies by eliminating manual processes, enabling straight-through processing, digitalization, and support operations in multiple currencies.
  5. Acquiring new customers and grow business exponentially: The platform will enable Vietcombank to cross-sell and up-sell the products across different market segments through targeted marketing campaigns and its flexibility to respond to ever-changing dynamic market conditions through pre-configuration.
  6. Maximizing fee-based revenue: The platform also allows Vietcombank to offer differential charging to the customers through the flexible charge engine available. Growing customer base coupled with flexible charging capabilities enables the bank to It would also enable the bank to earn higher margin in the form of float income by providing an access to low-cost funds.
  7. An integrated approach to operational excellence: An integrated platform will bring in process optimization, higher automation, and STP capabilities ensuring increased operational efficiency through centralization of functions and rapid issue resolution. Integration of several functionalities, hitherto handled by multiple systems such as VCB-iB@nking, core banking, new payments hub system and integration with 40+ tax payment interfaces are all now into one integrated PCM platform that will result in easier and less expensive maintenance and upgrade costs in the future.
  8. Extended channel capabilities for corporate customers: The mobile-ready platform allows Vietcombank to provide a tailored experience to its customers at no extra cost and empower them with simple yet so effective Do-It-Yourself features with minimum intervention from the bank which results in increased wallet share.
  9. Local market-ready: This helps Vietcombank to pre-configure the product as per local market requirements thus enabling the banks to adapt to new markets with much ease. This covers true multi-entity, multi-currency, multilingual (supports the Vietnamese language on screen and in reports), and local payment rails. As a result, products can be quickly launched to offer value-added services to the bank’s customers.

About iGTB’s Digital Transaction Banking platform

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.

The Digital Transaction Banking Enterprise Suite (DTB) from iGTB 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 50 other global banking groups are benefitting from this world-leading solution which handles 50% of the total corporate collections’ transactions across India, the Middle East & Africa. For more information, please visit https://www.igtb.com/dtb

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/

Cashing in on Trade

From time immemorial, corporate banking organizational structure has carved out Trade and Payments & Cash Management as separate product verticals. However, as we sit on the eve of a major and much needed phase of economic growth, we must redraw our future understanding of trade and international commerce activity.

For commercial and transaction banking professionals, joining the dots, or failing to do so, will likely drive their business success going forward. The confluence of four key factors will re-sculpt the world of Trade Finance and Payments & Cash Management.

This thought leadership article by Andrew England, Director and Head of Strategy, iGTB, brings you four key factors that determine cashing in on the  future of trade finance.

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Virtual Accounts: Context Matters

Virtual accounts are now simplifying corporate treasury: from basic cash visibilitymaking and receiving payments, managing complex payables and receivables, virtualizing cash concentrationnotional pools, helping reduce overdraft limits and optimizing outstanding credit positions: and in Real-time. What was once seen as an object of convenience to address simple collections management has morphed into an all-encompassing layer that forms a solid framework around the world of cash management as we have traditionally known it.

With speakers from ANZ, Accenture and iGTB, learn the critical things you need for a successful virtual accounts offering. In this webinar we discuss:

  1. One solution for many contexts
  2. Impact on cash visibility and ability to invest
  3. Getting the most bang for your buck

Speakers

Balaji Natarajan
Head of Payments and Cash Management, Asia, ANZ

 

 

Robert Langley
Associate Director, Payments Lead, APAC, Accenture

 

 

Balakrishnan Narasimhan
Senior Vice President and Head of Solution Consulting, iGTB

 

 

We bring you the recording of this session, so you can watch, learn, analyse and take away the insights at your convenience. 
 Please fill in the form below to view the full recording and Q&A of the session.