iGTB’s new platform will be part of a comprehensive digital transformation under way at Thailand’s premier corporate bank – offering new, consistent, and UX-optimised services to its international corporate clients
London (UK) & Chennai(India), October 16, 2017: iGTB, the transaction banking and technology specialist from Intellect Design Arena Ltd, has been selected by Bangkok Bank, Thailand’s market leader in corporate and small and medium-sized enterprise (SME) banking, as a technology partner to implement a comprehensive cash management platform and corporate portal.
The self-service digital portal will integrate a number of previously separate platforms, giving the bank’s clients – from SMEs through to multinational corporations – a consistent and consolidated view of their working capital and payments activities, irrespective of the country they operate in.
The solution will also provide considerable benefits for the bank, with back-end processing of transactions, risk management and reporting all centralised and handled in one place – leading to vast improvements in STP rates.
Thanit Sirichote, EVP, Corporate Cash Management at Bangkok Bank, says: “This partnership is a serious statement of intent, and an important component of the broader digital transformation that is underway at the Bank. We will be offering our corporate clients, of all sizes, better, more comprehensive, and more tailored services that increasingly use data analytics to get to the heart of what they are trying to achieve and how best to support them.
“This solution will also give us a much greater capacity to serve clients internationally – meaning they can consolidate their banking relationships, minimise costs, and access a suite of highly relevant products, all through a single, easy-to-use portal.”
Manish Maakan, CEO of iGTB, adds: “This is a key strategic step for iGTB – our first Global Transaction Banking deal in Thailand, signed with the largest commercial corporate bank in the country. Building on our presence in Singapore and Malaysia, this is a statement of our wider ambitions across the region, and we’re delighted that our unique CBX18 based Contextual Banking approach will help Bangkok Bank with their digital transformation. This won’t simply be a “get in, get out” technology implementation, it’s a joint effort where we offer our transaction banking thought leadership and expertise to ensure Bangkok Bank are strategically positioned for the long term.”
“We are delighted to be a part of Bangkok Bank’s transformational journey!, said K. Srinivasan, President, Emerging Markets , Intellect Design Arena. “This prestigious partnership with Bangkok Bank, Thailand validates our position as the preferred transaction banking specialist in the Asia Pacific region. Intellect will assist Bangkok Bank in its digital journey by proving real-time, flexible, and automated banking processes to maximise operational efficiency and provide best-in-class customer service.”
About Bangkok Bank:
Established in 1944, Bangkok Bank is one of the largest regional banks in Southeast Asia with total assets of 3,041,132 Million Baht (approximately USD 91 billion). Bangkok Bank is Thailand’s market leader in corporate and SME banking with the country’s largest retail customer base, approximately 240 business centres and business desks, and a nationwide network of over 1,200 branches.
Bangkok Bank has the largest overseas branch network of any Thai bank and is the only Thai bank with a substantial presence in China, with branches in Beijing, Chongqing, Shanghai, Shanghai Free-trade Zone, Shenzhen and Xiamen. The bank’s overseas branch network spans 15 economies, namely Cambodia, Cayman Islands, China, Hong Kong, Indonesia, Japan, Laos, Malaysia, Myanmar, Philippines, Singapore, Taiwan, United Kingdom, United States and Vietnam. This network includes 32 branches and two wholly-owned subsidiaries, Bangkok Bank Berhad (BBB) and Bangkok Bank (China) Company Limited (BBC).
Bangkok Bank offers full commercial banking services, including arranging syndicated loans, debt securities underwriting, trade finance, project finance, custodial services, SME and merchant services and specialist industry advice. The bank’s ongoing market leadership is due to its philosophy of developing a long-term supportive partnership with its customers. The complementary synergies between its corporate banking, investment banking, international banking, business and personal banking services enable the bank to offer personal and focused service as well as an impressive breadth and depth of services. Subsidiaries such as Bualuang Asset Management and Bualuang Securities PCL also enable the bank to develop investment opportunities which are available exclusively to Bangkok Bank customers.
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. FT8012, the world’s first design centre 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 124 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
For further information, please contact:
Europe: Fred Hendry, Moorgate Communications