Fifth Third Bank launches cloud-native self-service user experience

Powered by iGTB’s Contextual Banking Experience, CBX, Fifth Third Bank continues to enhance the customer experience for their corporate clients

London, November 17, 2021:Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked No.1 in the world for Transaction Banking by IBS Intelligence, today announced that Fifth Third Bank, National Association, has launched CBX, the first true contextual banking platform. This platform strengthens Fifth Third Bank’s position as a digital leader and positions the needs of corporate customers at the forefront.

The platform allows Fifth Third Bank to harness CBX’s capabilities, providing a simplified and consolidated view of assets and liabilities across a portfolio of domestic and international accounts, whether locally held or cross-bank, and allows for cash and liquidity management, based on scenario-based concentration of funds. Customers can optimize their working capital, in real-time, on a cloud-native, self-service platform.

Bridgit Chayt“This collaboration shows what’s possible when two organizations work together to drive innovation and growth,” said Bridgit Chayt, Senior Vice President, Head of commercial payments and treasury management, Fifth Third Bank. “We’re committed to keeping our customers at the center of everything we do and providing them with the visibility and insights necessary for them to succeed.”

 

 Manish MaakanCommenting on the go-live, Manish Maakan, Chief Executive Officer, iGTB said, “the global success of CBX persists and supports our continued growth in the United States with Fifth Third Bank. iGTB now has 11 clients in the US out of Intellect’s portfolio of 25 in North America. Consumerization of Commercial Banking has truly been embraced by Fifth Third with their investment in CBX, raising the stakes to align with their own digital value proposition and to continually provide the best customer experience possible.”

Mr. Maakan added, “This go-live is a testament to Fifth Third Bank’s experience and the innovation that their customers can count on. Being leaders in the field of contextual banking, and engaged in worldwide digital transformations, we look at this go-live as the outcome of the strong collaboration with Fifth Third Bank. We continue to push the envelope in delivering cutting edge commercial banking technology and look forward to rolling out additional features to ensure that Fifth Third Bank’s promise of providing superior customer experiences is fulfilled.”

 Laura Listwan“From a technical perspective, ease of use and a best-in-class experience is a hallmark of all of our solutions. The CBX platform enhances this with its increased visibility across accounts and automation. At Fifth Third, we ensure our customers have every tool possible in this changing economy to meet their goals,” said Laura Listwan, Senior Vice President and Head of commercial payments products.

 

Key Highlights:

  • A suite of commercial banking capabilities ready to deploy instantaneously. CBX covers all Commercial Banking domains: Account Services, Global and Local Payments, Corporate Liquidity and Cashflow Forecasting
  • Exceeding customer expectations with rich user experiences. The platform’s interface is built for the global commercial banking business. CBX is a self-service solution catering to large and medium-sized corporations, as well as SME customers. The platform provides context-aware interactions, through persona-driven user journeys, empowering the bank to be fully focused on building and deepening customer relationships through a full-service platform that combines creative solutions with strategic insights to maximize client value, compared to competing bank offerings
  • Multifunctional capabilities and options to execute seamlessly. Corporates can utilize CBX’s highly flexible, role-based interface that aggregates multi-bank information, performs analysis, enables informed decision making and initiates transactions.
  • Ease of visibility in real-time with information aggregated on a single, consolidated dashboard. Corporate clients will have full control, visibility, and access to cash when it is needed from a single view across all their markets with various forms of data analytics that can be leveraged by the corporate CXO in real-time, anytime.

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 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.

About Fifth Third

Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Sept. 30, 2021, the Company had $208 billion in assets and operates 1,100 full-service Banking Centers, and 2,336 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of Sept. 30, 2021, had $541 billion in assets under care, of which it managed $61 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.”

Intellect Global Transaction Banking named as a Leader in Forrester Wave:Digital Banking Processing Platforms(DBPP) – iGTB

iGTB has been positioned as a leader in The Forrester Wave: Digital Banking Processing Platform (DBPP) for Corporate Banking.

Intellect Global Transaction Banking (iGTB) launches Consumerisation of Commercial Banking at Sibos 2022

Intellect Global Transaction Banking is redefining commercial banking through composable, contextual and hyper-scale technology

Amsterdam, October 10, 2022: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, announces the launch of Consumerisation of Commercial Banking (COCB) at Sibos 2022.

Commercial Banking is on the cusp of fundamental shifts that will dramatically reorder the industry in the coming decade. As banks assess their future strategies, they need to define their purpose and set a course not just for modernisation but for true transformation. iGTB defines this next evolution as the Consumerisation of Commercial Banking (COCB). Consumerisation is the emergence of the individual consumer as the primary driver of product and service design and COCB is the impact of an individual consumer’s wants, needs and behaviour on commercial banking products and services.

There are 6 key tenets to COCB that banks need to understand and have a gameplan to embrace.

    • Hyper Personalisation – The first tenet deals with treating each customer as if they are the only one, a segment of one. Use of extreme personalisation not only boosts customer experience and enables trust building but also has a beneficial influence on net revenue and lowering of cost.
    • Real-time, Connected Journeys – Any outcome that a user is trying to achieve is actually made up of a number of journeys that are more connected than one might imagine. Embedding the right technology enables customers to present their context only once which can then propagate to each service provider in the entire journey
    • Action-triggering Insights – In the continuum of serving Information, offering Analytics, enabling Decision making and executing Transactions (the IADT paradigm), mere provision of information or acceptance of readymade instructions to execute in an order taker manner is passé. Banks need to operate on the sophisticated end of this spectrum where they use analytics to enable decision-making and then execute the transaction.
    • Immediacy – Recommending actions is good. Driving urgency and having them executed immediately, in a risk free manner, is better!
    • Desire & Trust based decision making – The two most important factors a consumer uses to make or rationalise a decision are a) desire in the product or service and b) trust in the provider. Desire and trust have relevance not only at the point of sale but also during the entire lifetime of the relationship. Banks need to address both these elements with their offering set.
    • Friction-free experience – even at scale – The consumption pattern in the world of consumers is not uniform. There are points of inflection where scale explodes significantly. However, the end user would accept no compromise on his/her experience being friction free – even at scale. Having the right kind of technology architecture to address this is key.

To embrace COCB, Intellect Design recommends an integrated three-pronged strategy to commercial banks comprising a) contextual design b) an architecture that is built on composable, contextual and hyperscale technology c) and an offering set that comprises products, solutions, platforms and banking-as-a-service capability

Commenting about the launch of Consumerisation of Commercial Banking (COCB) at
Sibos 2022,
Manish Maakan, CEO, iGTB said, “Commercial banking is on the verge of a major upheaval that will significantly alter their technology roadmaps. Modernisation alone will not suffice. Banks should plan for a future that welcomes rapid change while catering to unprecedented customer demands. We are pleased to launch “Consumerisation of Commercial Banking” at Sibos 2022 which will enable banks worldwide to not just digitally transform, but compete effectively in the new consumer-driven economy.”

He further added, “To help banks embrace this trend, iGTB has leveraged design thinking to build commercial banking offerings that comprise contextual products, platforms, solutions and
banking-as-a-service capability. These are underpinned by an architecture built on composable, contextual and hyperscale technology which we term as Commercial Banking Operating System (CBOS). CBOS is built for the cloud, drives high performance and is highly efficient in commercial banking operations.

To know more about the ‘Consumerisation of Commercial Banking’ and to talk to our team of experts, please visit https://www.igtb.com/consumerisation/

About iGTB

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. For further information about the transaction banking solutions offered by 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 270 customers through offices in 57 countries and with a diverse workforce of solution architects, and 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 Oxford 96% NPS for the Advanced Programme

Record breaking 96% NPS for the Advanced Programme of the world’s only iGTB Oxford School of Transaction Banking

55 of the world’s best bankers from 30 global banks gather in Oxford to mark the successful post-covid return of the exclusive iGTB Oxford community

London, 19 July 2022: 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 three years in a row, today announced phenomenal success – overwhelmingly positive feedback and a huge NPS score of 96% – on the successful completion of its seventh edition of iGTB Oxford School of Transaction Banking, this time the new Advanced Programme, for senior leaders.

Record breaking 96% NPS for the Advanced Programme of the world’s only iGTB Oxford School of Transaction Banking

This by-invitation school, with a revised curriculum led by Andrew England, Strategy Director, iGTB, attracted a cohort of senior bankers including CEOs from 30 banks worldwide, who join the existing community of now over 200 alumni. The Advanced Programme had thirty session leaders sharing real life case studies, structured into the six key KPIs for corporate banking CEOs,
as well as groupwork with a “Dragon’s Den” enactment.

Taking in the stunning Divinity School built from 1427 and the Convocation House from 1634, the networking and cultural programme included a private guided walking tour of Oxford, visit to the Pissarro Exhibition and a tour of the Bodleian Library. The School culminated at the Oxford and Cambridge Club in Pall Mall.

In the words of some of the participants:

  • “TB is absolutely key for banks for the future because of the cash generated and the RoE, boosting the share price. I’m very impressed about all of the presenters here and I’m really looking second-by-second at all the information I’m getting here at this excellent conference.”  (Werner Steinmüller, Chairman Deutsche Bank SpA and former CEO DB Asia)
  • “I’m learning so much from this course. I would 100% recommend this School to any banking representative who wants to grow their bank and make it successful. Big shout-out to iGTB for putting this event on, for me it’s been an incredible experience in an incredible setting, so
    many leading international bankers that I’m learning from.” (Don Coulter, CEO Concentra Bank)
  • “It’s an experience unlike anything I think I’ve seen, in terms of access to people who are genuinely, passionately interested in this industry. Such a fantastic opportunity to bring people together to think about how we move people forward and as an industry that’s what we have to do.” (Richard Brown, Head of Lending Product, Commercial Banking, Lloyds Bank)
  • “What we are learning here is a very wide range of banking concepts that are relevant in the emerging world of technology. iGTB has emerged as a global leader in doing TB and innovation in TB across the world. It is continuously bringing new business concepts and finding
    technology solutions to enable the growth strategy of those banks.” (Sandeep Chouhan, Group COO, Abu Dhabi Islamic Bank)
  • “It’s a very active dialogue and I’m quite impressed by what I heard. Kudos to iGTB for bringing it together, also in this fabulous environment in Oxford. I think it is very important to have venues like this and opportunities for people to come together, so congratulations!” (Michael Spiegel, Global Head of Transaction Banking, Standard Chartered)
  • “This is a unique opportunity for IT and banking people to discuss TB in great detail and I’m not aware of any other event in the globe which would have such great discussions about TB businesses. We have been working with iGTB for a long time now: they are a trusted partner
    for banks in TB. They are providing great products and this is a unique opportunity to discuss the feedback from banks and also hear their views about our businesses.” (Imre Gorzsas, Global Transaction Banking Head, Qatar National Bank)

Manish Maakan, CEO of iGTB, said: “Transaction banks, truly the heart of global commerce, serve over 200 million Manish-Maakancorporations worldwide with critical needs for unprecedented agility, for vital working capital and for the ability to navigate the shifts in supply chain.  Corporate banks aim to spend by 2025 $9.3bn just on applications. The course brought forth intensely practical considerations for banks to help them capitalise on these opportunities. I am delighted to continue sponsorship of this unique leading industry forum as part of my commitment to the furtherance of Transaction Banking excellence.”

iGTB is committed to raising best practice in Transaction Banking, and are looking ahead to the eighth School in 2023, again in Oxford and London. For more information, visit iGTBOxford.com.

About iGTB

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.

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, Risk, Treasury and Markets, and Insurance. With over 30 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, addressing the growing need for digital transformation. Intellect serves over 260 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.

iGTB Ranked no1 in the World for Global Transaction Banking by IBS intelligence for the Third Consecutive Year

Retains #1 in Transaction Banking

Ranked #1 in the 2022 edition of Regional Leader (ASEAN) and Global Leader in Product Breadth categories.

London (UK), June 10, 2022: Intellect Global Transaction Banking (iGTB), a cloud-native, API-led microservices-based, multi-product FinTech company for the world’s leading financial and insurance institutions, has registered a remarkable achievement of three wins in a row for Transaction Banking including Global Leader in Product Breadth in its 2022 edition by the UK-based independent analyst firm, IBS Intelligence.

IBSi’s Annual Sales League Table is a widely-accepted industry benchmark for the performance of global banking technology solutions. The Sales League Table has been running for over two decades now and is recognised as a barometer for financial technology supplier sales performance across the banking industry.

Wholesale Banking Transaction BankingIntellect Global Transaction Banking (iGTB), the world’s first complete Global Transaction Banking platform, retains its #1 Global Leadership position in Transaction Banking in a highly competitive segment for the third consecutive year. iGTB has also retained its #1 ranking as the best-selling Wholesale Banking – Transaction Banking system. iGTB spearheads the consumerization of corporate banking through a composable, cloud-native platform powered by microservices and Open Banking APIs. Its Contextual Banking Experience (CBX) is a rich omni-channel suite that covers all Transaction Banking needs (Digital, Payments, Cash Management, Virtual Accounts, Liquidity, iColumbus.ai Trade and Supply Chain and more). iGTB with its highly successful iGTB Oxford School of Transaction Banking initiative is designed to leverage best-practices, stories, challenges, learning and successes to enable banks to meet their Principal Banker ambition for corporate customers.

Global Leadership Product Breadth

Intellect has been ranked #1 in the 2022 edition of Global Leader in Product Breadth. Intellect’s solutions help banks lead businesses on the path to growth and success and help move the banking world forward.

 

Regional Leaders | ASEAN

Intellect’s Global Consumer Banking ranked #1 in the 2022 edition of Regional Leader (ASEAN). Commenting on Intellect’s performance, Robin Amlôt, Managing Editor at IBS Intelligence said, “Intellect Design Arena racked up its third year as leader of the Wholesale Transaction Banking category. The company was a clear leader here with a nearly equal number of deals from the Americas, Europe, and the Middle East.”

 

Arun JainExpressing his views on emerging as a leader, Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “We are proud and humbled to win big at IBSi Sales League Table 2022 with six #1 Global Leadership positions. As we are forging ahead and emerging as a new world leader in the industry with our API-based Contextual and Composable banking solutions, our priorities are highlighted through our wide suite of products and solutions that reorient the future of FinTech. Our customer-centric design thinking approach and algorithmic delivery methodology are robust to ensure defect-free, on-time deliveries while being agile and sensitive to the dynamics of our customers’ priorities.”

Intellect has also retained its #1 ranking in Retail Banking for the sixth consecutive year, and #1 ranking in InsurTech for the second consecutive year.

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CWB’s Cloud-Based Payments Service Hub powered by iGTB

CWB partners with Intellect Global Transaction Banking to enhance payments service technology for business owners

London, May 31, 2021 – Canadian Western Bank (CWB) is proud to announce a new partnership with Intellect Global Transaction Banking (iGTB) that advances how clients experience CWB’s payments and cash management services. iGTB, ranked #1 in the world for transaction banking by IBS Intelligence, will provide CWB with its cloud-based Payments Service Hub (PSH), powered by Microsoft Azure, that will enable more efficient payment capabilities and opportunities to rapidly meet the evolving needs of Canadian business owners. The solution is architected on a cloud-enabled technology for the high availability and scalability needed for a payments platform. It uses sophisticated In-memory caching, application server and database clustering, and load balancing to cater to the millisecond response times needed for instant payments. The move advances CWB’s digital transformation and commitment to deliver premium client experiences while strengthening iGTB’s position as an international market leader among cloud-based payment service providers.

Jeff

“Partnering with iGTB means we can provide our clients with a single point of client interaction and information for payments and new payment offerings,” says Mr. Jeff Wright, Senior Vice-President, Equipment, Digital & Client Solutions at Canadian Western Bank. “Business owners need a financial partner that can innovate at the pace of their growth, and iGTB elevates our ability to stay on top of what they need while enabling us to deploy market-competitive payment offerings, reduce manual activities and lower payment costs. With a modernized and fulsome view of our clients’ payment activities, we can continue to deepen the high-touch relationships our clients expect from CWB.”

Manish Maakan

Commenting, Mr. Manish Maakan, CEO, iGTB said, “This strategic six-year managed services partnership solidifies our third cloud deal in Canada. iGTB’s new easy-to-use PSH on the cloud as a managed service lays the foundation of our offering to Canadian banks and credit unions, as well as to financial institutions around the world.”

Mr. Maakan added “I am proud to be associated with CWB on this payments transformation as they have set the benchmark around customer centricity, allowing them to differentiate, modernize and control their payments offering, positioning themselves for growth in Canadian financial services. This also reinforces the strength of our relationship with Microsoft, a trusted provider with Azure for mission-critical systems such as payments. We will be making further exciting announcements on our offerings on the cloud as a managed service in the coming quarters.”

Suzanne

“Companies like Intellect Global Transaction Banking and Canadian Western Bank demonstrate the digital innovation that is possible in the financial sector,” said Suzanne Gagliese, One Commercial Partner lead, Microsoft Canada. “Delivering payments on the cloud enhances the customer experience while harnessing the flexibility, power and security of Microsoft Azure.”



CWB’s Cloud-Based Payments Service Hub powered by iGTB

About Canadian Western Bank:

Canadian Western Bank (TSX:CWB.TO) is a chartered, full-service bank that offers business and personal banking solutions and expertise, along with an unwavering obsession with our clients’ success. We’ve offered customized financial solutions for over 35 years, and operate with a clear focus on meeting the unique financial needs of business owners. Through our network of branches, business offices and mobile relationship teams, we help clients grow their businesses, manage their money, and realize their financial potential. Learn more at https://www.cwbank.com.

The World’s Best Corporate Banks Bank on iGTB

About iGTB:
iGTB is the world’s first complete Global Transaction Banking Platform from the house of Intellect helps 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 center 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/.

IDC Financial Insights Innovation Award for iGTB Cash platform

London, 17 May, 2022: Intellect Global Transaction Banking (iGTB), is proud to announce that its iGTB Cash platform deployed at Vietcombank Cashup program has won the IDC Financial Insights Innovation Award 2022 Asia’s Best in Customer Interactions amongst 120+ high-quality submission from banks and insurers in APAC.

This marks the 2nd consecutive win for the iGTB Cash – VCB partnership at IDC’s Financial Insights Innovation Award (FIIA). In 2021, this partnership received the award for Best Bank in Vietnam for the Payments and Cash Management category for high quality technology deployment. Raising the bar in 2022 for superior customer stickiness and faster time-to market has led to a consecutive year of recognition and endorsement by IDC FIIA.

IDC FIIA 2022 23rd March 2022: IDC FIIA 2022 announced Vietcombank as Asia’s Best in Customer Interactions

Manish MaakanCommenting on the award, Mr. Manish Maakan, CEO, iGTB, said, “I’m proud and humbled by this recognition of our leading iGTB Cash Cloud platform. Now with this award, the iGTB-VCB combine has won 3 major analyst-endorsed awards in just 12 months. This is a testament not only to the technology platform, but the intense partnership with VCB to ensure that their privileged Corporate and Financial Institution Clients fully adopt and consume every feature of this platform. VCB has always laid emphasis on launching new products & services with a long-term view of helping its customers to grow. I congratulate them for this stellar success.”

Xiao liuAccording to Xiao Liu, Senior Market Analyst, IDC Financial Insights, “The CashUp program by Vietcombank is an excellent example of technology innovation and digital collaboration playing vital roles in providing delightful customer experience and improving operational efficiency in corporate banking sector. The bank’s movement to centralizing the transaction banking systems and enabling the omni-channel capabilities to allow the bank to configure products efficiently across channels at a centralized platform for maintenance and customization has done exceptionally well in accelerating the processes of new product and service launch and improving operational efficiency. Together with their partner Intellect Design, Vietcombank’s CashUp initiative is implemented successfully despite all the operational challenges and uncertainties brought by the pandemic through an effective collaboration between the local and remote team, which paves the way for similar banks in Vietnam and Asia to also adopt these best-practices of strengthening digital infrastructure to empower corporate banking processes and services.”

iGTB and Vietcombank receiving the IDC FIIA 2022
 iGTB and Vietcombank receiving the IDC FIIA 2022

23rd March 2022: iGTB and Vietcombank receiving the IDC FIIA 2022 award at the 18th edition of the Asian Financial Services Congress (AFSC), Singapore

About iGTB Cash Cloud

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 Cash Management, 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 seamlessl y 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 digital channels. For more information on iGTB, please visit https://www.igtb.com/

iGTB Cloud is the world’s first fully-integrated & cloud-ready, Integrated Cash and Trade digital transaction banking platform 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 55 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.igtbcloud.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 260 customers through offices in 97 countries and with a di verse 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 & Microsoft to establish Corporate Banking transformation on Cloud

Transaction banking transformation set for explosive growth as iGTB brings its digital platforms to Microsoft Cloud for Financial Services.

London, April 25, 2022: Intellect Global Transaction Banking (iGTB), the world’s first complete Global Transaction Banking Platform from Intellect Design Arena Limited, announced it will integrate Microsoft Cloud for Financial Services to accelerate cloud adoption and digital transformation initiatives of corporate banks.

The collaboration will see iGTB adopt Microsoft as its preferred cloud platform to remove traditional barriers of banking technology adoption, thereby help banks go-to-market 3 to 4 times faster with Liquidity, Cash Management, Payments, Trade Finance & Supply Chain Finance cloud offerings to their corporate clients. This collaboration is set to drive sustained banking digitalisation, help banks transform their corporate banking business models, modernise their cloud technology stacks, and consume “Banking-As-A-Service” out-of-a-box.

Banks can now get access to bank-grade secure and hyper-scalable cloud infrastructure paired with iGTB’s cloud-native banking technology to fully support burgeoning customer demands and regulatory needs.

Banks earned a colossal almost-$1 trillion from commercial banking,1 with high and growing demand for SaaS applications. Transaction banks, truly the heart of global commerce, serve over 200 million corporations worldwide2 with critical needs for unprecedented agility, for vital working capital and for the ability to navigate the shifts in supply chain. Corporate banks aim to spend by 2025 $9.3bn just on applications, with SaaS cloud spend growing to 25% of it.3

To accelerate cloud adoption of transaction banking platforms, iGTB and Microsoft will work together to jointly develop four specific platforms:

  • iGTB Liquidity for banks to offer their clients, already deployed in 57 regulated countries, that today sweeps over $4tr cash and pools over $35tr balances per year and recently the only offering rated Best in Class in an independent report from Aité-Novarica.
  • iGTB Cash Cloud: A comprehensive cash management platform – deployable with no Capex and resulting in 50% lower TCO with the ability to go-live in as fast as 10 weeks, and with three offerings:
    • CashNow: bringing innovation to the business banking segment, a ready-to-use platform with a 10-week go-live plan
    • CashXtra: rejuvenation of the critical Micro, Small, Medium Enterprises (MSME) banking market with an 18-week go-live plan
    • CashPower: a comprehensive platform that provides scale to servicing mid-size and large corporations that can go-live in as fast as 25 weeks.
  • iGTB Payments: Contextual Payments-as-a-Service platform to place banks at the forefront of payments modernisation initiatives built on a composable, micro-service, cloud-native architecture for elastic scalability. iGTB Payments today supports volumes of $500bn payments per day at a leading global bank and is available in 43 markets worldwide.
  • iColumbus.ai: Bringing Artificial Intelligence to the first and only integrated Trade and Supply Chain Finance platform that runs on an architecture that is built for the cloud. Named after the pioneer whose discoveries eventually opened up the world to truly global international trade, iColumbus.ai today underpins the largest trade finance transformation in Europe and the largest trade & supply chain finance transformation in Asia Pacific.

Manish MaakanManish Maakan, CEO, iGTB said, “I’m excited to bring iGTB’s capabilities to more banks and their corporates through Microsoft Cloud. I believe the commercialisation of corporate banking relies on getting the power of transaction banking platforms into the hands of as many banks as possible, and our collaboration with Microsoft is an important step along that path.”

Mr. Maakan added, “This collaboration with Microsoft allows just that: security and worry-free scalability while allowing the bank to launch products 3x to 4x faster, deploy updates and enhance the customer experience quickly and easily. Equally importantly, it frees up capital, lowers the complexities and risks associated with the traditional digital transformation, and significantly reduces time-to-value. We look forward to taking together “Banking-As-AService” proposition to 1000 banks across 70 countries, and helping them dramatically expand their transaction banking business at a lower cost.”

Commenting on the news, Bill Borden, Corporate Vice President of Worldwide Financial Services at Microsoft said, “iGTB’s integration of the Microsoft Cloud creates a powerful platform for banks to streamline and modernize their transaction banking business in the cloud. Together, we look forward to delivering a faster path for innovation and responsible growth, with the hyperscale flexibility and security essential for the financial services industry.”

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 financia l 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/.

Source

1Source: McKinsey
2Source: Statista
3Source: Omdia

VPBank’s digital transformation with iGTB Cash platform

iGTB’s strategic partnership with VPBank will provide a fully-integrated, Cash & Payments Management platform to enhance corporate and SME customer’s experience and operational efficiency.

London, April 11, 2022: 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 that Hanoi-headquartered VPBank has signed a major transformative deal to digitize and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.

This digital transformation deal will boost VPBank’s digitization efforts of its transaction banking function which in turn will enhance the country’s digital economy which is aligned with the “Vietnam National Digital Transformation Roadmap 2025”. This will bring the bank closer to the goal of being the most customer-friendly bank through technology in 2022 with disruptive iGTB’s products and services for its corporate, commercial and SME clients.

Mr Nguyen Duc VinhAccording to VPBank CEO, Mr Nguyen Duc Vinh, “VPBank has always been a pioneer in selecting the most up-to-date technology to power accelerated digital transformation. Strengthening our IT Infrastructure to enable and automate digital strategy is our key to improving productivity by 20-30% in order that we stay ahead of the competition. This is why harnessing disruptive digital IT initiatives is currently a major priority for us.”

“Partnering with iGTB, VPBank will continue to improve customer experience and expand the business ecosystem through a new and efficient digital technology, which will transform our cash management. Armed with this iGTB and VPBank solution, we are set to increase significantly the competitive edge for the bank and retain our leadership position as the preferred bank of choice for both SME and for corporate customers.”

Manish MaakanAccording to iGTB CEO, Mr Manish Maakan, “I am proud that this latest VPBank deal transformation deepens Intellect’s portfolio to a dominant position in Vietnam. Our investments into iGTB Cash Cloud and iColumbus.ai platforms are the keys to a faster go-to-market, so that our client portfolios across APAC, Middle East, Europe and Americas can realize early returns on their technology investments. Our simultaneous market-depth strategy is a result of years of investment into local Vietnamese regulations & payment systems, backed by iGTB’s local relationship managers & delivery teams out of Hanoi, and our longstanding partnership with Vietnamese FPT Information Services.”

Mr Maakan added, “Vietnam’s corporates and SMEs are demanding digital financial solutions, and the Vietnam banking industry is rising to the challenge powered by iGTB’s latest digital banking platforms. This partnership powered by iGTB’s global expertise in transaction banking technology will help VPBank achieve its goal of becoming the most customer-friendly technology-driven bank and the most valuable bank in Vietnam.”

This transformative cash management platform delivers a seamless customer experience with a completely digital integrated transaction banking suite of iGTB’s Cash Management, Trade Finance, Payments, Account Services, Collections and Liquidity Management powered by the award-winning front-end Contextual Banking Experience (CBX) platform with the ability to deploy new customers quickly, handle large volumes of transactions, improve operational efficiency and help reduce complexity and cost.

Key Highlights

  • Seamless customer experience through digital transformation of VPBank’s cash management system: With a focus on Cash Management which includes Liquidity Management, Account Services, Payments and Collections along with Trade Finance channel services to corporate & commercial clients, the bank would be enabled to provide seamless customer experience and exceed business critical banking requirements which would help to retain the leadership position in the region.
  • Customer centric front-to-back omni-channel CBX solution: The single instance, fully integrated omni-channel Contextual Banking eXperience (CBX) will provide real-time insights and analytics through visual dashboards which will enable VPBank to enhance operational efficiencies by eliminating manual processes and will be a key differentiating factor for the Bank’s corporate customers.
  • Single vendor integrated platform for operational excellence: A single vendor integrated cash management platform will bring in process optimization, higher automation and STP capabilities for payments processing with high performance technology. This ensures improved operational efficiency through centralization of functions and rapid issue resolution which lowers TCO and results in less expensive upgrade and maintenance costs in future.
  • Customer acquisition and retention at the center of cross-selling and up-sell strategy through technology: With this streamlined integration model, VPBank will be enabled to move ahead of the competition by adopting the latest technology to respond to the ever-changing dynamic market conditions through pre-configuration. This would enable the bank to increase the wallet share and maximize fee-based revenue.
  • Local market ready with deep expertise in the region: iGTB’s intimate knowledge of the Vietnamese market is reflected with boots-on-the-ground local relationship managers and delivery teams based out of Hanoi. The partnership with local vendor FTP will further enhance the implementation and deployment.
  • Faster go-to-market with advanced product configurations: The platform enables modules to be quickly stitched together for developing a comprehensive solution, thus allowing the VP Bank to get a quick return on their investments. As a result, products can be quickly launched to offer value added services to the bank’s customers.

About iGTB Cash Cloud Platform

The World’s Best Corporate Banks Bank on iGTB

iGTB Cash Cloud is the world’s first fully-integrated & cloud-ready, Integrated Cash and Trade digital transaction banking platform 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 55 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.igtbcloud.com

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 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 digital channels. 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.

About VPBank

Established in 1993, VPBank is currently one of the biggest private banks in Vietnam. The bank operates in a wide range of businesses including retail banking, corporate banking, wealth management and consumer finance. As of the end of 2021, the total asset of VPBank amounted to nearly VND 548 trillion, increasing by 30.7% year on year. Consolidated loan balance reached VND 384 trillion, increasing by 18.9%, customer deposits and valuable papers rose by 9.1% year on year to VND 323 trillion, total operating income (TOI) reached VND 44,301 trillion, with an increase of 13.5% year on year.

The objective of VPBank is to become a top-ranking retail bank among joint stock commercial banks in Vietnam in terms of business scale, market share and service quality. On that basis, VPBank shall make the highest profits for its shareholders, create stable jobs and career development opportunities for employees, and make considerable contributions to the State Budget and to the general development of the economy and society as well.