Asia’s Best: Two-time winner of IDC Financial Insights Innovation Award for iGTB Cash platform and Vietcombank

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.

Intellect Global Transaction Banking partners with 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 raises the bar in Vietnam’s digital transformation with iGTB Cash platform from Intellect

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.

iGTB Virtual Accounts 2022 set to revolutionize Digital banking at a major private Qatari bank

Intellect Global Transaction Banking’s (iGTB) Virtual Accounts 2022 set to revolutionize Digital Banking at a major private Qatari bank

iGTB’s fully integrated, front-to-back, contextual Virtual Accounts to enhance corporate and SME user experience, to bring operational efficiency and to generate new revenue streams for the bank in line with Qatar National Vision 2030

London, March 23, 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 a major transformative deal win with a leading Qatar-headquartered bank. This marks Intellect’s eighth major digital transformation deal in the Qatar region.

iGTB Virtual Accounts 2022 will allow the bank to:

  • Acquire sophisticated Collections-On-Behalf-Of (COBO) leveraging virtual accounts
  • Power 80% efficiency improvements in reconciliation by API-first, self-service-ready and scalable engine to drive costs down and free up working capital.
  • Overcome legacy core banking challenges by virtualizing the accounts, thereby enhancing their customers’ experience
  • Not require any refactoring of its existing transaction banking infrastructure creating a unique key advantage for digital banking transformations

iGTB Virtual Accounts 2022 co-exists seamlessly with the bank’s existing product processors and channel solutions – enabling the customers to transact with virtual accounts just like they do with physical accounts. www.igtb.com/vam

manish-maakan-ceoAccording to iGTB CEO, Mr Manish Maakan, “Adoption of iGTB’s Virtual Accounts 2022 proves the agility of this platform to exponentially grow the customer experience through technology, and provide a whole new way for banks to market cutting-edge products to new clients and SMEs. Our goal is to aggressively digitalise and virtualise traditional processes through technology, which we have done with iGTB Virtual Accounts and we are able to help banks speed up their transfers and transactions in real-time.”

He added, “This is Intellect’s eighth major transformation banking client in Qatar, which illustrates our focus and localization strategy in Qatar backed up by iGTB’s expertise fully based out of the MENA region. iGTB Virtual Accounts will provide the bank with radical product innovation in support of the Qatar National Vision 2030 and add an arrowhead strategy in the bank’s arsenal to quickly acquire new clients and SMEs.”

Key Highlights

  • Industry agnostic “multi-aware” solution to scale as per market & corporate demand: With a focus on Virtual Account Management platform that supports multi-currency, multilingual, multi-corporate entity (parent-child) to corporate & SME clients, the bank will be enabled to cater to the needs of the customers by improving operational efficiency and delivering seamless user experience. This will enable the bank to acquire new customers and grow business exponentially to increase wallet share.
  • Centralized cash visibility with a 360-degree view on the collections position across the organisation structure: The Virtual Accounts Management front-to-back transaction banking platform supports a smooth customer onboarding process; bank users can define interest profiles and link them to accounts on behalf of the customers, which will then interface with the core banking for account validation. The single instance, omnichannel Contextual Banking Experience (CBX) provides visual dashboards that support rich data analytics and real-time insights providing high levels of transparency to banks’ corporate customers.
  • Integrated solution to offload the heavy lifting from the core: The fully integrated Virtual Account Management platform co-exists with the bank’s core landscape, which will bring in process optimization, higher automation and STP capabilities for payments processing with high-performance technology. As the platform works as an enabling layer rather than just a product processor, the total cost of ownership is inevitably low. Any functional changes (especially regulatory changes) in the bank product processors are therefore effective on virtual accounts also, reducing cost, effort and delay.
  • Invoice reconciliation is a key module of the partnership: Along with Virtual Account Management, the platform will also provide support for invoice management and receivables reconciliation along with collection concentration, to help bank’s corporate and SME clients to manage partial and full bills, settlements and detailed reconciliations, among other things under collections.
  • Intelligent & contextual digital experience with self-service: This platform will contribute to the drive to reduce operational expenses, while enabling clients for a high degree of self-service account management via multiple channels like H2H, API and desktop, eliminating manual processes while allowing the bank to control key functions like KYC and related transaction restriction, providing a better view to credit visibility and viability of their customers by leveraging options like Real-Time Payments for better and faster cash visibility, enabling STP, straight through reconciliation, digitalization, and support operations in multiple currencies.
  • Improved product bundling to enhance cross-sell opportunities for the bank: With this platform, the bank will have easy access across industry segments like airlines, schools, etc. This creates a foundation for the bank to drive cross-sell and up-sell of products across customer segments which would enable the bank to generate new revenue streams.

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, the 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, Virtual Accounts, 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 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 organization and its solutions, please visit www.intellectdesign.com.

Intellect Announces Appointment of Uppili Srinivasan as President

Business Head for Digital, Payments and Liquidity recognised for outstanding contribution

London, February 1, 2022: : Intellect Design Arena Ltd, a cloud-native, future-ready, multi-product FinTech company for the world’s leading financial and insurance clients, today announced the appointment of Uppili Srinivasan, Business Head for Digital, Payments and Liquidity, as a President of the company

Mr Uppili Srinivasan, fondly known as Upps, has been a key figure in the development of what is now Intellect Design Arena for thirty years. Starting in 1992 soon after his graduation from BITS, Pilani, Mr Srinivasan had many successes at Citicorp Overseas Software unit (COSL), He then became a key figure in Polaris, leading a large Business Solution Center, and most recently has been a senior leader with Intellect Design Arena, where he has donned multiple caps, from Pre-Sales, Solutioning, Engineering, Delivery to Business Leadership – all successfully. Mr Srinivasan also has many wins and accolades to his credit: he has been a part of every significant deal that the business has won in its journey.

From designing Intellect’s first Digital product, Contextual Banking Experience (CBX) – which has been licenced by many banks, is used by corporations throughout the world, and remains at the technological edge with its latest MACH-compliant incarnation – to delivering the liquidity platform from Intellect Global Transaction Banking (iGTB) that runs over $4 trillion sweeps and $35 trillion notional pools per annum, he has worked on practically every single IP platform of COSL/Polaris/Intellect, from Core Banking to Lending to Corporate Banking. Mr Srinivasan now leads one of the key successful business units that power Intellect’s success in the Western hemisphere.

Arun JainMr Arun Jain, Chairman and Managing Director, Intellect Design Arena Ltd, commented, “Intellect is now well advanced on its transition from a product company to a fintech platform, and I am delighted to appoint Upps, an astute business manager who focuses on end-to-end value creation, as a President of the company in recognition of his contribution.” He added “A significant contribution from Upps has been the number of leaders he has groomed that are today in pivotal roles across Intellect. We see Upps as a holistic and inspirational leader – for his passion, ability to put the organisation and team ahead of himself, result orientation, focus on the last 2%, customer centricity and above all honest, hands-on leadership approach.

SrinivasanMr Srinivasan said “I am honoured to be recognised in this way and it has been a tremendous journey. Creating value for banks is a passion of mine and with Intellect I have been fortunate to be able to do that across products, markets and customer segments. Intellect is a unique place that values and encourages personal and business growth. I look forward to steering my business and Intellect itself as we fulfil their huge potential with growing shareholder value in the years to come.”

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, 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 launches cloud-native, contextual Virtual Account Management 2022 as SaaS offering

Redefining reconciliation, sub-accounting and liquidity management services for corporates with industry specific user journeys and ready to be wired into a bank’s transaction banking ecosystem

London, January 24, 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 two years in a row, today announced its fully cloud-native Virtual Accounts platform, available as a SaaS offering.

iGTB’s Virtual Accounts Management 2022 goes well beyond the traditional use of virtual accounts for reconciliation. The solution now means a bank can offer sophisticated POBO and COBO services and manage inter-company positions, thereby allowing its corporate clients to create and operate fully-fledged in-house banks. Combined with immediate payments, reconciliation can be real time and straight-through, freeing up significant working capital for corporates. This is offered via very powerful self-service and API-based integration with corporate ERPs

The offering is available as SaaS in partnership with AWS and Azure, with ready cartridges for integration with a variety of core-banking systems implying very quick time-to-market and significant reduction in the overall TCO.

 Manish MaakanAccording to Mr. Manish Maakan, CEO, iGTB, “I am delighted to bring this major opportunity to provide banks with radical product innovation. iGTB’s Virtual Accounts Management brings true customer-centricity to corporate banking products. It empowers corporate clients to bank the way they want to, using made-to-measure virtual accounts to liberate them from the complexities and constraints of regulated bank account management.”

“We are seeing an uptake especially in the United States and also industry-focussed cases in Europe, Asia-Pacific, the Middle East and Australia. It’s especially pleasing to launch another aspect of the contextual revolution we are proud of and that iGTB is spearheading: we are committed to the consumerization of corporate banking. This goes further, and democratizes corporate banking.”

Mr. Maakan added “The key advantage is that, with this offering, banks don’t need to revamp their entire transaction banking infrastructure to offer virtual accounts. The solution can co-exist with the bank’s existing product processors and the channel solution – enabling the customers to transact with virtual accounts just like they do with physical accounts. Now banks can offer powerful reconciliation services, enable robust payment factories, and enable clients to manage third party monies using the iGTB’s latest Virtual Account Management 2022 solution.”

Key highlights

iGTB has more than 15 years of expertise in Virtual Account Management technology, with over 20 banks using Virtual Account Management serving 18 countries across 5 continents.

  • MACH compliant (microservices, API-first, cloud-native, headless)
  • API-first, approach enables easy wiring into the bank’s ecosystem
  • 70-80% efficiency improvements in reconciliation will drive costs down, contribute to increased business and free up working capital
  • Eliminates two thirds of cash concentration needs
  • Lightweight core banking solution: less is more
  • Simple liquidity solution with in-house banking
  • Fully self-service ready
  • Limited or no need for localisation or customization
  • Easily embedded into the customer’s financial life cycle
  • Increases stickiness with better cash management
  • Monetizes using subscription and transaction fee models
  • Rollout on your current infrastructure
  • Pay-as-you-grow model with a cloud native service
  • Tailored plugins’ for over 30 specific industries such as Finance, Automotive, Leasing, Mobile, Real estate and more

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, 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 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 organization and its solutions, please visit www.intellectdesign.com.

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.”

Kuwait-based Boubyan Bank is poised to become the world’s first International Islamic Digital Transaction Bank in partnership with Intellect iGTB

Kuwait-headquartered Boubyan Bank will be one of the first banks in Kuwait to undertake a comprehensive digital transaction banking implementation to digitize and streamline Islamic transaction banking with iGTB.

Boubyan Bank’s 2023 strategy gets another feather in its cap with the digital transformation of its cash management offering for corporate and SME customers

London, November 2, 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 for two years in a row, today announced that Kuwait-headquartered Boubyan Bank has signed a major transformative deal with iGTB. Boubyan Bank will be one of the first banks in Kuwait to undertake a comprehensive digital transaction banking implementation to digitize and streamline Islamic transaction banking. For iGTB, this deal marks the third key digital transformation customer in Kuwait.

With the adoption of new digital technologies including AI and Cloud and the rising digital transformation across the region, Kuwait’s Vision 2035 “New Kuwait” sets the vision for the country to become an international trade hub regionally and to stand out as a leader in digital technological innovations in the GCC region.

Boubyan Bank is currently implementing its third five-year strategy “Boubyan 2023”, which builds on the group’s robust domestic foundations and strengthening international presence. The focus will be to upgrade product portfolio, focus on target customer segments, enhance digital proposition. Most Islamic banks across the wider GCC region are behind the global digital curve in terms of the digital products and services being offered to customers. Boubyan Bank aims to propel Islamic digital corporate banking towards a more innovative future where the priority is customer convenience on an international scale. This strategic investment meeting the diverse and advanced needs of corporate & SME customers, will re-affirm Boubyan Bank’s superior position as a leading digital Islamic bank in the region.

According to Mr. Abdul-Salam Mohammed Al-Saleh, Chief Executive Officer – Corporate Banking, Financial Control,Abdul-Salam Treasury and Legal Affairs, Boubyan Bank, “Digitization will enable our customers in the region to open and enjoy the benefits modern digital transaction banking & cash management in the knowledge that it also meets their Sharia principles and beliefs.”

He added, “We at Boubyan Bank have always been focused on strengthening our digital infrastructure to drive customer excellence initiatives. Harnessing digital innovation and being customer centric are the main pillars of the bank’s five-year strategy – Boubyan 2023. This partnership with iGTB will help us achieve our strategic goal and expand beyond the Kuwait market.”

According to Mr. Ashraf Abdallah Sewilam, Group General Manager – Corporate Banking Group, Boubyan Bank,Ashraf “Innovation and creativity is the key to our success strategy. Adapting agile methodology and delivering a number of ‘First-in-Kuwait’ products for our customers, we are advancing the banking industry in Kuwait and delighting our customers with new, advanced and easy to use products.”

He added, “Boubyan Bank aims to provide distinguished corporate banking services to all sectors and sizes of corporates with the focus on developing and enhancing digital services and products to meet customer needs and aspirations. Through this digital cash management transformation in partnership with iGTB, Boubyan Bank looks forward to become the preferred bank for its corporate customers in the region and beyond.”

manish-maakan-ceo According to iGTB CEO, Mr. Manish Maakan, “Islamic financial institutions in Kuwait are exploring ways to drive innovation, reach new customers and expand their positive impact on society with sustainability. This partnership with Boubyan Bank signals the urgent need banks to scale up corporate banking operations that emphasizes market-readiness and speed-to-market as ‘hallmarks’ of the next-gen Transaction Banking transformation, stepping away from long-haul bespoke programs.”

He added, “This dominance demonstrated by iGTB’s third major transformation deal in Kuwait, is the latest illustration of our market coverage strategy yielding dividends across our client portfolios. iGTB’s cloud-ready Integrated Cash and Trade platform is a result of years of investment into1 adapting to local regulations & payment systems, backed by iGTB’s boots-on-the-ground local relationship managers, domain experts and delivery teams fully based out of MENA regions.”

With a focus on Cash Management, Liquidity, Account Services, Payments, Collections and Virtual Account Management along with support for omni-channel, API, Host-to-Host and mobile banking to corporate & SME clients, the bank would be enabled to deliver seamless user experience and improve operational efficiency. The single instance, omni-channel Contextual Banking Experience (CBX) provides visual dashboard views to enhance digital customer self-service with the ability to provide real-time insights and value-added industry news to improve customer stickiness.

With the Kuwaiti market specific Request-to-Pay system, Boubyan Bank will now be enabled to offer real-time unitary and bulk payments on the corporate banking portal to its corporate and SME clients. This will enable the bank to acquire new customers and grow business exponentially. The complete Islamic deposit banking lifecycle addressing loans and finance with the single-point login and digitization of back-end operational processes will create a culture of digital self-service that will enhance the engagement levels with corporate & SME customers.

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 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/

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 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.

Jordan Kuwait Bank Embarks on a Digital Transaction Banking Transformation with “Bank Anywhere” capability powered by iGTB

Jordan Kuwait Bank to create a completely integrated, mobile first, state-of-the-art, omni-channel experience to power its growth ambitions in the Arab region based on Jordan Vision 2025

London, October 20, 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 Jordan-headquartered Jordan Kuwait Bank (JKB) has signed a transformative deal with iGTB to digitize and streamline its transaction banking offerings. This is the 3rd major digital transformation deal in Jordan for iGTB, making it a significant 50% coverage amongst active transaction banks in the country.

iGTB’s integrated transaction banking platform enables banks to be disruptive in the digital financial industry through its fully integrated transaction banking platform. Leveraging the platform, JKB will be able to offer seamless digital experiences across the corporate financial supply chain. The platform works out-of-the-box, with modules for digital cash management, trade finance and payments powered by the award winning omni-channel Digital Customer Experience suite (CBX) and full cycle of mobile banking services covering inquiries and initiations. The digital transformation will help JKB to acquire an advanced position in the Arab region through digitized operations and enhanced products and services. Supported by iGTB, the planned project is aimed at digital transformation of JKB’s Transaction Banking platform to further shore up its revenue base. This ensures meeting the diverse and advanced needs of customers, thereby confirming JKB’s superior position to become a leading digital bank in the region.

According to Mr. Daoud Issa, Chief Operating and Support Officer, COO, Jordan Kuwait Bank, “The adoption Daoud Issa of new technology and end-to-end process digitization is transforming the way businesses used to function. For the banking sector, it drives a lot of operational efficiency and improves the STP. With a diverse client base ranging from sectors across real estate, energy, airline & aviation, JKB needs to be digitally advanced and embrace the on-going shift in customer preferences, and enrich its digital platforms and provide innovative solutions to offer excellent customer experience and cutting edge innovative services to our SME and Corporate clients to be ahead of the competition.”

He added, “With iGTB’s deep domain and regional expertise in Digital Transaction Banking, JKB is marching ahead to provide customer gratification and achieve operational efficiency. This is a key, large-scale digitization project and is of significant importance to JKB’s business in the coming years.”

manish-maakan-ceoAccording to iGTB CEO, Mr. Manish Maakan, “Our, fully-integrated Cash & Trade Digital Transaction banking platform, has become a global go-to-solution for Transaction Banking needs, whether it’s for a modern Contextual Banking experience or for robust technology that powers their cash, liquidity, payment, trade and virtual account operations. With over 55 banks in the Integrated Cash & Trade portfolio, iGTB is all set to scale its global foot print with fully-managed cloud hosted models with our Microsoft Azure partnership. Corporate clients can now have an experience that’s no longer exclusive to retail & B2C domains. 3 of the largest banks out of the 6 banks offering Transaction Banking services in Jordan, bank on iGTB, representing a significant 50% market share.”

He added, “We want our clients to not only exceed in business critical Transaction Banking requirements, but also empower them to adopt a leadership position in the corporate banking space. With our iZoom rapid deployment methodology, we will enable JKB to launch business in 6 months. We are pleased, as leaders in this field, to work with Jordan Kuwait Bank in this transformation to push the boundaries yet further, and to help the bank grow faster and deliver new products and services to their corporate clients.”

With the adoption of new digital technologies and the rising digital transformation across the region, Jordan has shown great progress in the Digital Financial services area. The country’s vision is to become a digital economy and to stand as a leader in technological innovations in the Arab region. To encourage this digital development, Ministry of Digital Economy, a recent government venture, focuses on the use of digital technology including AI and Cloud as means to revitalize the economy, promote entrepreneurship and create job opportunities to drive the Jordan Digital Transformation Strategy based on Jordan Vision 2025. Jordan Kuwait Bank’s digitization efforts of its transaction banking function, will further enhance Jordan’s move to a digital economy with innovative product lines and services.

Key Highlights

  • Advanced Transaction banking capabilities for Corporates & SMEs: Payments, Account Services, front-end Trade Finance, Host-to-Host services and other advanced utilities for corporate & commercial clients, will help deliver a seamless user experience and help improve operational efficiency.
  • Improving Corporate Customer satisfaction by digitizing operational bottlenecks: The single instance, multi-country, fully integrated omni-channel Contextual Banking Experience (CBX) will provide real-time insights through dashboards, support dues collection and provide reconciliation reports, which will enable JKB to enhance operational efficiencies by eliminating manual processes, enabling straight through processing, digitalization, and support operations in multiple currencies.
  • Enhancing JKB’s “bank anywhere” with fully modernized mobile banking: Mobile banking is a key channel of this program which would help JKB deliver all the results directly to the smartphone screen. This channel is a combination of the latest mobile technology, methods of engagement, system integration and initiation. This helps the bank create a fast, secure means of managing money and “bank anywhere” platform for their corporate & SMEs clients.
  • New customer acquisition for market leadership led by differentiated product offerings: The platform will include diverse product offerings such as; Instant Payment System (CliQ), API enabled Host-to-Host initiation, SWIFT GPI for international transfers and single/bulk payment orders etc. which will enable JKB to meet the regulatory requirements and acquire more customers.
  • Superior customer service and SLAs powered by digital self-service: The single-point login and digitization of back-end operational processes, will create a culture of digital self-service that will enhance the engagement levels with corporate & SME customers. This creates a foundation for the bank to drive cross-sell and up-sell of products across customer segments. This would enable the bank to maximize fee-based revenue and earn higher margins.

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 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/

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 and 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 and 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.