New York (US) & London (UK), June 07, 2018. Intellect Design Arena, the world’s first full spectrum Banking and Insurance technology products company, and IBM (NYSE: IBM) will jointly deliver digital corporate banking solutions to some of the world’s largest banks on the IBM Cloud. Intellect Global Transaction Banking (iGTB) is a global leader in corporate banking technology with 178 client installations across North America, Europe, Asia, the Middle East and Africa.
Working together on a range of technologies including applications, infrastructure and cloud services, IBM will enhance the delivery of iGTB’s next-generation corporate banking platform, CBX S-18, also making it available on the IBM Cloud. An omnichannel, API-first and microservices-based platform, CBX S-18 uses predictive analytics and machine learning to provide corporations with automatic, tailored “best-next” actions and offers, based on contextual business data. This approach helps improve service levels for corporate treasurers, while banks can cut costs, enrich their client relationships and develop new revenue streams.
“For banks undergoing digital transformation, the risk of slow and disruptive implementation is a pressing concern. Working with IBM, we’re ensuring that not only can we offer the most sophisticated transaction banking solutions, but we can serve clients through the IBM Cloud – implementing quickly, seamlessly and with minimal risk,” says Manish Maakan, CEO of iGTB. “But this is about more than how we deliver our products. Collaborating with an industry leader such as IBM means we can share our resources and deliver this combination to our clients, whilst simultaneously enabling ourselves and IBM to grow and further develop our offerings. Together, we are confident of delivering the best transaction banking solution on the market.”
With initial focus on the U. S. market, a number of solutions for banks undergoing digital transformation will be offered and supported by IBM’s expert knowledge of bank systems.
“Our collaboration with iGTB brings together their transaction banking expertise with IBM’s deep banking technology leadership,” said Shanker Ramamurthy, General Manager, Strategy and Market Development, IBM Industry Platforms. “Our combined strengths can help impact more financial services organizations to help them harness the disruptive power of cloud. iGTB’s clients can run their mission critical enterprise workloads in IBM Cloud’s network of nearly 60 data centers across the globe. Built from the ground up with security, performance and scalability in mind, clients can move with confidence to the IBM Cloud.”
Manish Maakan, CEO of iGTB, adds: “IBM’s market penetration and range of services are the perfect complement for our specific product expertise. This partnership is fantastic news for us but it’s equally good for banks. They benefit from our technology in CBX S-18, and work with IBM – a company that is familiar with their environments and systems and has a proven track record of delivering successful transformations.”
About Intellect Design Arena Ltd:
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 136 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com. For information on the solutions for global transaction banking, please visit igtb.com.
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