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/

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/

Burgan Bank the first choice for Kuwaiti Business Community

Burgan Bank, a leading banking service provider to the Kuwaiti business community has successfully deployed superior customer-centric channel capabilities to augment and enhance its digital cash management services.

Burgan Bank Digital Transaction Banking Platform by IGTB

Burgan Bank deploys iGTB’s Digital Transaction Banking platform with powerful channel capabilities to power its corporate banking expansion strategy

Intellect’s deal empowers Burgan Bank to differentiate its client offerings and take a significant step in supporting and meeting its customer’s growing needs with Digital Transaction Banking Platform

Dubai, 23rd November 2020: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, today announced that Burgan Bank, a leading banking service provider to the Kuwaiti business community has successfully deployed superior customer-centric channel capabilities to augment and enhance its digital cash management services using its Digital Transaction Banking Platform

Powered with enhanced customer experience channel technology CBX, Burgan Bank is now positioned to strengthen its corporate customer footprint and expand its Kuwaiti portfolio significantly by enabling the corporate sector with the latest technology and well-designed products. Burgan Bank is now poised to offer a full range of streamlined and advanced transaction banking services to leading Kuwaiti corporations & SMEs across the trading, manufacturing, contracting, alternative energy, and advanced technology sectors.​

Mr. Raed Al-Haqhaq, Deputy Group Chief Executive Officer & CEO – Kuwait of Burgan Bank, said, “Digital transformation of our transaction banking operations is one of the main priorities of the bank’s new strategy. We are now adopting the latest tech innovations, including full process automation that is enabled for mobility and highly scalable for growth. This new technology rollout is an important step in our own journey of being the best financial service provider in the Kuwaiti market through sustained execution”. He added, “iGTB is an important partner with a reputation in the MENA region for creating operational efficiencies, adopting international standards with a track record of emphasis on local requirements.”

“Deepening our partnership with iGTB to deploy the upgraded Digital Transaction Banking platform is central to our digital transformation journey to simplify and automate the end-to-end customer journey. Such advancements in mobile and online banking driven by customer demands and expectations are crucial for securing marquee clients and iGTB’s in-depth domain knowledge and expertise made it our partner of choice,” said Mr. Venkat Menon, Group Chief Operations & Technology, Burgan Bank. He added, “This partnership and implementation is part of Burgan Bank’s larger vision of enhancing our value proposition to customers by investing in digital and digitising the entire customer journey, thus improving both value and customer convenience.”

Manish“The Middle East banking sector’s center of gravity has shifted toward transaction banking. Global and regional transaction banks have since squared off in a race to build regional market share in the Middle East, as companies seek ever more specialized transaction banking services powered by digital at its core,” said Mr. Manish Maakan, CEO, iGTB. He further added, “I am proud to be associated with Burgan Bank on this transformational journey as they prepare to provide region-specific products, poise to garner more clients and a bigger chunk of each client’s transaction banking wallet. With unique, specific enhancements that cater to the Kuwaiti market in this deployment, iGTB continues to dominate the transaction banking technology space with functional breadth and regional depth across every key region in the Middle East. Burgan Bank marks the 8th major go-live for DTB in the last 6 months ensuring top-notch delivery excellence for banks in the midst of Covid-19 crisis.”

Key Highlights of Burgan Banks Digital Transaction Banking Platform 

  1. Burgan Bank can now offer Contextual Banking Experience (CBX) front-end, delivering a seamless user experience with easy-to-use interface. Context-based channel actions delivered in a mobile-first paradigm provides superior on-the-go corporate treasurer experience with authorisation and inquiry capabilities. An integrated 360-degree customer analytics with customizable dashboards across corporate accounts, payments and trade information provides enhanced and contextual decision making for cash management operations.
  2. Burgan Bank offers cost-effective, end-to-end cash management solutions, with a fully functional electronic banking facility, online account information access, self-service functions and comprehensive payment services tailored to enhance the customer’s accounts and eliminate manual processes in making payments.
  3. iGTB’s solution prioritises omnichannel digital automation and self-service that lowers operational costs for corporate clients. Persona-led self-registration dashboards and self-service capabilities enhance the engagement levels with corporate & SME customers and now create a foundation for the bank to cross-sell and up-sell with a product bundling strategy.
  4. Payroll processing for Burgan Bank corporates is now enabled with STP i.e. a completely automated process electronic transfer with no manual intervention. Such automation covers vendor payments and B-Dinar salary accounts resulting in faster crediting of salaries.
  5. Capabilities expected in the near future include “on-the-go” mobility for corporate treasurers can also initiate & authorise payments, and view the balances increasing operational productivity. Additionally, sophisticated H2H connectivity solutions in the pipeline will create flexibility to exchange information with their corporate client’s preferred file formats, network protocols, and security standards. Planned expansion into API banking will help create increased efficiencies to the bank’s corporate clients.

About iGTB’s Digital Transaction Banking platform

The Digital Transaction Banking 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. DTB is already used by a number of other Middle Eastern banks, illustrating the attraction of consolidating IT estates and the strength of iGTB in the region. More than 45 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.

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/

iGTB Welcomes Dave Revell of CIBC to its Growth Advisory Board

iGTB Welcomes Dave Revell ICD.D, Former EVP and Global CIO of CIBC, to its Growth Advisory Board

World-leading senior banker with stellar pedigree and experience will join Intellect Global Transaction Banking to help guide the #1 transaction banking fintech to further growth.

London, 11th February, 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 Dave Revell is joining as Senior Strategic Advisor on its Growth Advisory Board.

Mr. Revell is an experienced Board Director and Senior Executive with 35 years of experience in the Financial Services, Telecommunications and Information Technology sectors. Most recently Dave was EVP and Global Chief Information Officer for CIBC. Prior to joining CIBC, Dave was SVP at BMO Financial Group and prior to that, Rogers Communications. Dave started his career at IBM Canada where he held various technical, corporate sales and consulting roles.

Mr. Revell said, “I’ve had a great relationship with Intellect Global Transaction Banking for more than 12 years across two different Canadian Banks, where I served as Head of Technology. As a client, they were a trusted partner who I knew I could count on to deliver high quality, operationally excellent solutions and to always put the needs of the client first. I’m looking forward to continuing my relationship with Intellect and iGTB and to help the company achieve even greater success as a member of its Growth Advisory Board.”

Mr. Revell is a graduate of the University of Waterloo and holds a degree in Electrical Engineering and Management Science. He has completed Executive Leadership programs at the Kellogg School of Management, Babson College, Schulich School of Business and the Rotman School of Management where he earned an ICD.D designation from the Institute of Corporate Directors.

He is also past President of the University of Waterloo Alumni Association and has served on numerous Advisory Committees including for Salesforce.com, Bell Canada, IBM Canada and DXC. Dave is a member of the Governing Body of the Evanta CIO Executive Summit and a Conference Chair for the Toronto CIO Summit.  At CIBC he chaired the United Way campaign for technology &operations and was a champion of diversity and Inclusion as the Executive Sponsor for MARC (Men Advocating Real Change).

Dave is an accredited Angel Investor and a member of the Golden Triangle Angelnet. He is currently a Director of Fiix Software, a Cloud based Maintenance and Asset Management Software Company, Zafin, a leading SaaS Product and Pricing platform for Banking, and Brane Capital, a leading Digital Asset Custody Company. Manish

Mr. Manish Maakan, CEO, iGTB, commented “I am delighted to welcome Dave Revell on board. He has unparalleled knowledge of the industry and vast experience growing companies and supporting other organisations. Having worked closely with him previously on mission-critical payment solutions delivered to time in true partnership, he understands more than most how we support the world’s best corporate banks. I am sure he will challenge us to push ourselves even further in innovation, customer service and bringing consumerization of transaction banking to corporate treasurers everywhere.

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 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 organisation 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/

FAB’s Significant Leap Towards Principal banking Leadership

FAB’s significant leap towards principal banking leadership and digital transformation powered by iGTB’s Digital Transaction Banking (DTB)

Empowering First Abu Dhabi Bank to differentiate their client offerings through significant new capabilities in the area of liquidity management in Fab’s Principal Banking leadership

Dubai, 5 October, 2020: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, today announced that First Abu Dhabi Bank (FAB), the largest bank in UAE, has expanded its relationship with iGTB to enhance the bank’s liquidity management capabilities. With liquidity management now being seen as the key to cash management and vital to retain and attract the largest marquee clients, this move should help FAB’s principal banking leadership achieve its stated aim of improving risk-adjusted returns.

With iGTB’s inter-company lending capabilities, FAB can now offer in-house banking capabilities to their top corporate client conglomerates. This helps their clients accelerate ideal allocation of debt versus equity within the wider group to support shareholder value creation, an optimal capitalisation of entities within that group to meet investment requirements and growth targets of Operation Heads of the entities and the opportunity for the Group Corporate Treasurers to leverage these various entities’ different levels of funding access.

This first, large scale intercompany lending implementation, the biggest in the region, positions FAB as a bank with a significant first-mover advantage in the region but also well on the way to becoming the principal banking service provider to corporates.

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

Powered by iGTB’s Digital Transaction Banking solution (DTB), the intercompany lending capabilities automate the execution of borrowing and lending within the entities of the corporate, tracking of loan agreements rules and parameters in terms of borrowing capacity, debt structure, repayments, facility limits and more. This signals a significant move from all manual processes thereby contextualising & automating the end-to-end process, and legal tracking including comprehensive interest calculation mechanism. This solution will also create the capability for treasurers and operations heads of the corporates to have an end-to-end single view to manage and optimize the complete process.

The Liquidity Management Solution from iGTB is the most powerful such platform in the market, empowering corporate treasurers with not just pooling, sweeping and intercompany loans, but also policy-driven automated investment sweeps, cash flow forecasting and real-time funds checking. Crucially it includes features for Basel III compliance as well as handling local or regional regulatory as well as tax options, to ensure operational compliance and strong corporate governance.

iGTB’s liquidity solutions also delivers sophisticated automation and comprehensive analysis with a world-class comprehensive digital, self-service, front-end that delivers a faster, simpler and seamless experience to help banks gain and retain corporate clients. iGTB’s proven Liquidity Management Solution is already used by a number of other UAE banks, also users of iGTB’s Digital Transaction Banking suite, illustrating the attraction of consolidating IT estates and the strength of iGTB in the Middle-East. More than 30 other global banking groups are benefitting from this world-leading solution which handles 23% of the world’s cross-border MNC sweeping structure flows and is present in more than 70 countries.

About iGTB
The World’s Best Corporate Banks Bank on iGTB

Intellect Global Transaction Banking (iGTB) as a division of Intellect Design Arena, is the world’s first complete Global Transaction Banking platform helping financial institutions to prepare for a new era of customer-centric services. With a rich suite of transaction banking products, across Payments, Liquidity, Trade and Supply Chain Finance, iGTB is an authority on integrated products that enable banks to meet their ambitions to be the Principal Banker to their clients. iGTB seamlessly integrates all the transactional needs of corporate and FI customers, delighting with the Contextual Banking eXperience (CBX), a white labeled digital transaction banking platform to manage clients’ cash and trade finance needs. iGTB 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/.

The BBK goes live with Contextual Digital Transaction Banking

The Bank of Bahrain and Kuwait goes live with iGTB’s Contextual Digital Transaction Banking platform to support growth

BBK goes live with iGTB’s end-to-end Digital Transaction Banking platform to deliver exceptional customer experience and to accelerate the growth of BBK’s corporate client base

Dubai, September 16, 2020: Intellect Global Transaction Banking (iGTB), the world’s first complete Global Transaction Banking Platform from Intellect Design Arena Limited, today announced that BBK (Bank of Bahrain and Kuwait), Bahrain’s leading bank delivering brighter banking experiences to its customers, is now live with iGTB’s fully integrated Digital Transaction Banking platform (DTB). DTB will empower BBK to rapidly and cost-effectively deliver innovative digital banking services and exceptional customer experience for its corporate customers.

DTB enables banks to be disruptive in the digital and financial industry through its fully integrated front-to-back transaction banking platform. Leveraging the platform, banks can build solution ecosystems that deliver seamless digital experiences across the corporate financial supply chain. DTB helps banks provide better service to their corporate customers, help their clients grow organically, fulfil their needs through technology, penetrate more client segments, and ultimately become the principal bank for corporations’ businesses, great and small.

BBK clients can now benefit from the integrated DTB suite, which includes product processors of Payments, Account Services, Inward Remittance, Collections & Receivables, Liquidity Management.  Additionally, Host-to-Host, ARX Security along with front-end CBX and mobility across all product lines make it a fully comprehensive solution. The smooth go-live highlights the commitment of technology groups of both BBK and iGTB, and more importantly, their ability to successfully deploy complex transaction banking technology in this challenging business climate, starting only in 2019.

Abdulrahman Ali Saif, Group Chief Executive, BBK said: “BBK is leading the digital revolution in Bahrain with digital transformation projects. The Bank is known for its leadership in deploying technology enabled services and in retaining that position, understanding how imperative it is to have a digital environment that supports innovative, customizable and rapidly deployed products. Our new integrated transaction banking platform “BBK BanKey” allows clients – both SMEs as well as multinational corporations – to consistently view, monitor and control their consolidated financial data. This cash management platform has been equipped with sophisticated payment, reconciliation and liquidity management solutions that go well beyond what it is currently available in the Bahrain market and is accessible through electronic channels including mobile application – a first in Bahrain that enables our corporate clients to access their accounts anywhere, at any time, irrespective of the jurisdiction they operate in – ensuring BBK is their trusted banking partner.”

ManishManish Maakan, CEO, iGTB, said: “BBK is a strong example of a forward-thinking organization embracing digital. Now equipped with an integrated suite of transaction banking solutions, BBK can set itself apart from the competition to win more corporate customers and boost market share. They have already seen compelling results with iGTB’s platform that demonstrate real value.”

He further added, “Already a trusted partner in Middle East region, iGTB has provided with DTB a superb digital banking omni-channel user experience, with end-to-end integration that allows the bank to create fully customized products and services over multiple channels.”

 

Over 40 banks across Asia, Middle East, India and Africa have DTB as their trusted transaction banking digital solution.

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. 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. For further information about the company and the various solutions it offers, please visit https://www.intellectdesign.com/

iGTB Parters with Samba Financial Group for DTB

iGTB further expands its footprint in the Kingdom of Saudi Arabia, partnering with Samba Financial Group to offer its signature Digital Transaction Banking platform 

London (UK), 3rd September, 2020: iGTB, the world’s first complete Global Transaction Banking platform from Intellect Design Arena, today announced that Samba Financial Group, one of the region’s largest and most acclaimed financial services groups, has selected iGTB’s Digital Transaction Banking (DTB) solution. The bank has selected DTB to power its digital transformation initiatives to strengthen its corporate offering and help attract more customers. The solution will help the bank become more competitive, streamline internal processes and, in turn, generate additional revenue streams.

Customer preferences have changed dramatically in recent times in the Middle East, with a steep increase in the uptake of digital banking. Small, digital-only banks and fintechs are already entering the Saudi Arabian market with next-generation services, determined to win customers. For established players, the pressure is on to provide engaging digital services to protect hard-won market share. Samba Bank developed a successful digital presence but wanted to continue evolving and digitally transforming its corporate offerings.

The bank has chosen the Digital Transaction Banking (DTB) complete solution for cash management, which includes the digital omnichannel CBX for Account Services, Payments, Collections & Receivables, Liquidity Management front-end with processing capabilities across Payments, Collections & Receivables and Liquidity. DTB enables banks to be disruptive in the digital financial industry through its fully integrated transaction banking platform. Leveraging the platform, banks can build solution ecosystems that deliver seamless digital experiences across the corporate financial supply chain.

ManishCommenting on this partnership, Mr. Manish Maakan, Chief Executive Officer, iGTB, said: “We are delighted to partner with the Samba Financial Group, one of the most progressive banks in the Kingdom of Saudi Arabia with a strong focus on customer-centricity. With a strong alignment to the Bank’s ambitious transformation agenda, we believe our fully integrated DTB solution will help the bank to offer market-leading products and services to its corporate customers through enhanced digital channels.  Our signature product DTB will help the bank with its accelerated go-to-market plan to meet the timelines it and its customers demand.”

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 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 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

 

iGTB ranked #1 in the world by IBS Intelligence 2020

 iGTB ranked #1 Best Selling Wholesale Banking – Transaction Banking Solution in the world by IBS Intelligence in the Annual Sales League Table 2020

IBS Intelligence, the definitive source of independent news, analysis and research relating to global financial technology markets, has inducted Intellect into the Leadership Club by ranking it the world’s best Transaction Banking solutions

 London (UK), July 20, 2020: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, has been ranked #1 in the world for Wholesale Banking – Transaction Banking by the highly respected, independent analyst IBS Intelligence, in their IBS Annual Sales League Table 2020.

IBS Intelligence is the definitive source of independent news, analysis & research relating to global financial technology markets. The IBS report covers systems purchases made by over 1,700 banks across 240 products from 62 suppliers across the Americas, Europe, Middle East, Africa and APAC.

iGTB, the world’s first complete Global Transaction Banking arm of Intellect, has been ranked #1 as the best-selling wholesale banking – transaction banking system and joins the leadership club, validating its revolutionary #ContextualBanking innovation and a rich suite of transaction banking products. With 23% of the world’s MNC cross-border sweeps and over 50% of IMEA corporate collections going through iGTB systems, already proven capable of processing over one million domestic/international payments per hour in live use, this ranking underlines why so many of the world’s best corporate banks, bank on iGTB.

ManishCommenting on the recognition, Manish Maakan, CEO, Intellect Global Transaction Banking (iGTB), Intellect Design Arena, said, “This recognition from the IBS is an important validation of our #1 commitment and strategy to deliver the best-in-class and the best-selling wholesale banking – transaction banking system. This tribute also validates our microservices-based, API-first and cloud-ready architecture.”

He further added, “Apart from the #1 ranking for the wholesale banking – transaction banking system itself, the report also validates our future-proof architecture covering both Retail Banking and Corporate Banking. These double wins are a first for Intellect and underline the company’s ability to play in the big league across the world. Additionally, even the modular solutions across lending and channels are in the top three, thanks to their comprehensive functionality and independent utility.

iGTB’s rich suite of transaction banking products enable banks ambitions to be Principal Banker to their corporate customers:

Cash optimisation in a rising interest rate environment: make the firm’s cash work and grow 24×7 with the world’s most comprehensive offering, licensed by over 40 of the world’s top banks serving clients in around 60 countries with an estimated 23% of MNC cross-border sweeps passing through iGTB systems.

The world’s first integrated digital transaction banking platform: full service transaction banking using the model-bank approach. Banks become future-proof, risk-proof, compliant and profitable. Over 50% of corporate collections in India, Middle East and North Africa go through DTB.  DTB innovations this year include real-time customer & supplier onboarding, self onboarding, persona-led CXO and operational dashboards, SME banking and open banking API framework.

Revolutionizing digital access to banking: provide seamless digital omnichannel execution across the full range of transaction banking, offering contextual, instant, intelligent best-next actions – fully digitalized, cloud-native, and ground-up open microservice APIs.  The product range is especially strong in virtual accounts and client money management, as well as a full suite for SME with AI-supported cash flow forecasting.

Anytime universal payments: capture growth opportunities of rising payment volumes and address regulatory challenges by providing enterprise-wide visibility into payment operations across all channels and business lines. Orchestrate payments end to end replacing all legacies siloed processing engines, ability to add real time limit control, and proven in live use processing over one million payments per hour.

Digitising Trade Finance and Supply Chain Finance: Trade and Supply Chain Finance, fully integrated and digitised, mitigating risk, reducing cost and optimising efficiency, driving a seamless customer experience all on one platform, on a single screen, from any channel, working towards paperless trade.  Sophisticated payables financing with dynamic discounting and seamless onboarding is one unique capability.

About iGTB:

The World’s Best Corporate Banks Bank on iGTB

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

About Intellect Design Arena Limited

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

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