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
Commenting 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.