iGTB, the transaction banking and technology specialist from Intellect Design Arena Ltd, has been selected by Bangkok Bank, Thailand’s market leader in corporate and small and medium-sized enterprise (SME) banking, as a technology partner to implement a comprehensive cash management platform and corporate portal.
The self-service digital portal will integrate a number of previously separate platforms, giving the bank’s clients - from SMEs through to multinational corporations - a consistent and consolidated view of their working capital and payments activities, irrespective of the country they operate in.
The solution will also provide considerable benefits for the bank, with back-end processing of transactions, risk management and reporting all centralised and handled in one place - leading to vast improvements in STP rates.
Thanit Sirichote, EVP, Corporate Cash Management at Bangkok Bank, says: “This partnership is a serious statement of intent, and an important component of the broader digital transformation that is underway at the Bank. We will be offering our corporate clients, of all sizes, better, more comprehensive, and more tailored services that increasingly use data analytics to get to the heart of what they are trying to achieve and how best to support them.
“This solution will also give us a much greater capacity to serve clients internationally - meaning they can consolidate their banking relationships, minimise costs, and access a suite of highly relevant products, all through a single, easy-to-use portal.”
Manish Maakan, CEO of iGTB, adds: “This is a key strategic step for iGTB - our first Global Transaction Banking deal in Thailand, signed with the largest commercial corporate bank in the country. Building on our presence in Singapore and Malaysia, this is a statement of our wider ambitions across the region, and we’re delighted that our unique CBX18 based Contextual Banking approach will help Bangkok Bank with their digital transformation. This won’t simply be a “get in, get out” technology implementation, it’s a joint effort where we offer our transaction banking thought leadership and expertise to ensure Bangkok Bank are strategically positioned for the long term.”
“We are delighted to be a part of Bangkok Bank’s transformational journey!, said K. Srinivasan, President, Emerging Markets , Intellect Design Arena. “This prestigious partnership with Bangkok Bank, Thailand validates our position as the preferred transaction banking specialist in the Asia Pacific region. Intellect will assist Bangkok Bank in its digital journey by proving real-time, flexible, and automated banking processes to maximise operational efficiency and provide best-in-class customer service.”