Intellect iGTB takes transaction banking package to the cloud
29 September 2016 | 2072 views | 0
Intellect iGTB, the organisation behind the world’s first comprehensive global transaction banking solution, has made its wellestablished global integrated cash and trade solution, Digital Transaction Banking (DTB), available as software as a service.
DTB comprises account services, reporting, collections and receivables (including EIPP), liquidity, trade finance, supply chain finance and treasury products, all seamlessly integrated. The product continues to experience great success and increasingly, banks are requesting a software deployment model that gives an even faster and simpler way to access these services. This is based on the model bank concept with many pre-configured elements and a comprehensive set of tried-and-tested customer journeys
The solution, which has over 70 installations, has a track record of increasing customer numbers by 32% year-on-year in one bank, and even more impressively a doubling of customer base in just 9 months in another, the solution consistently demonstrates other benefits such as profitability increase, very high STP and FTE reductions. It is no surprise therefore that many banks are utilising the service in tens of countries. Now, the cloud aspect allows banks to simply switch on and go.
The solution was designed for, and has been implemented by, banks across the spectrum from small to regional to global, and in turn used by their business customers of all sizes. But the new availability on the cloud will be of value, in particular to local and primarily domestic banks, as it allows them to bypass more costly and long-term investment and implementation procedures by eliminating the need to physically integrate the technology solution into their existing systems. Instead, they can access the software as a service and seamlessly use it for onboarding any of their customers simply.
This new form of accessing such a solution means that banks can exploit the opportunities presented by the $12 trillion held in corporate cash. From relationship managers to CDOs, Heads of Transaction Banking and COOs, banks are asking how they can improve customer stickiness, revenue, efficiency and use of resources - and provide their customers with a single view across cash and trade processes via any device, including tablets, mobile phones, laptops and wearable technology such as the Apple Watch. This solution will allow them to meet both those bank needs and those of their corporate customers without siloes and in the optimal manner for varied client segments.
iGTB CEO Manish Maakan comments “Banks need, and are rightly demanding, the ability to offer new and enhanced services in a simpler manner. By accessing our proven existing solution via the cloud, any banks - particularly those whose concerns are more locally focused - can gain benefits that deliver significant value, all in a remarkably short space of time.”