Intellect Global Transaction Banking Announce It Will Use Cloud Technology as It Launches in the UAE
Banks Latest News Middle East & Africa Open Banking

Intellect Global Transaction Banking Announces It Will Use Cloud Tech as It Launches in the UAE

The world’s first cloud-native, fully integrated cash management platform, powered by microservices and Open Banking APIs for banks in Middle East and North Africa has launched in the UAE. 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, has announced its completely reimagined Digital Transaction Banking on a cloud platform. iGTB, with origins that can be traced to Citibank, has three decades of experience in transaction banking technology. Currently 90+ banks globally and 30+ banks in MENA region trust iGTB for their digital cash transformation.

Middle East and North African banks that desire a large piece of the pie of the rapidly growing transaction banking business, and those that wish to accelerate SME and corporate digital customer acquisition, are set to experience a major turnaround with this announcement. A key tenet of this redesigned Cash Management Platform is to embrace simplicity in digital banking transformation, for banks to stay relevant to their customers and investors by adopting the latest cloud technology without high CAPEX investments and to bust the myth of endless technology projects that must span into years.

This platform is powered by comprehensive product coverage across cash management, payments, account services, self-onboarding, liquidity and virtual accounts and is offered across three easy-to-consume bundles – the CashNow plan, the CashXtra plan, and the CashPower plan. Each bundle is tailored specifically for banks at various stages of their transaction banking digital maturity, with an innovative pay-as-you-grow pricing model. The bundles are specially curated with iGTB’s thorough repertoire of user journeys and domain packs built up from its large client base, designed to accelerate sales cycles for banks, increase stickiness across their client segments and impact the customer experience with a fully digital 360 offering. Banks will now be able to capture stable, predictable corporate and SME fee revenues in weeks rather than months.

Manish Maakan, CEO, iGTB
Manish Maakan, CEO, iGTB

According to Manish Maakan, CEO, iGTB, “CIOs and CTOs that run the bank IT, can reap value from cloud platforms by completely re-thinking digital technology transformation. The time to commercialise is reduced 4-6 fold, so that banks can go live in weeks rather than months with iGTB’s proprietary rapid implementation methodology iZoom, backed by pre-configured, industry-proven domain expertise and core-banking pre-integrations built into the software. Banks can future-proof their investments with a progressive modernisation upgrade roadmap thanks to iGTB’s cloud-ready enterprise cash management platform, which has the best-of-breed technology capabilities built-in with microservices and Open Banking APIs.”

iGTB’s fully managed, cloud-ready Digital Transaction Banking Platform will help de-risk banks’ IT operations with up to 40% reduction in IT total cost of operations (TCO). Pre-configured domain packs for the GCC and North African markets will speed up bank’s go-to-market product launch aided by the operationally-ready suite of 135+ Open Banking APIs to help roll out consumer-friendly innovative features. Corporates and SMEs can be rapidly onboarded, saving up to 70% in onboarding costs, bringing in operational efficiency, and driving down acquisition costs.

Author

  • Francis is a junior journalist with a BA in Classical Civilization, he has a specialist interest in North and South America.

Related posts

Kahina van Dyke joins Standard Chartered Fintech leader to spearhead channels and client data analytics

Manisha Patel

equensWorldline Launches First Ever Browser-Based SCA Solution

Mark Walker

UKRSIBBANK and Dreams Launch New Digital Banking Solution in Ukraine to Improve Financial Wellbeing 

Polly Jean Harrison