BBK Partners with Intellect's Digital Transaction Banking for Digital Transformation of its Transaction Banking Business

Deepthi | Myequity news | Date : 19-02-2019 11:15:00 IST

BBK, one of Bahrain's leading banks, selected Intellect Global Transaction Banking (iGTB) to implement a comprehensive digital transformation of its transaction banking business, thus equipping BBK with state-of-the-art digital infrastructure.

iGTB is the transaction banking and technology specialist from Intellect Design Arena Limited, the fastest growing B2B Fintech product company with CAGR of 21% over three years.

Jamal AI-Sabbagh, General Manager, Information Technology & Operations Group, BBK said: "BBK is known for its leadership in deploying technology enabled services and in retaining that position, understanding how imperative it is to have a digital environment that supports innovative, customizable and rapidly deployed products. This would be impossible to achieve without a fintech partner who understands technology and is also an expert on using that understanding to provide an end-to-end transaction banking solution. Intellect's DTB will integrate our transaction banking offerings into a self-service digital portal with a bank- assisted service, thus allowing our clients -SMEs as well as multinational corporations - to consistently view, monitor and control their consolidated financial data. This platform will be accessible to clients anywhere, at any time, irrespective of the jurisdiction they operate in - ensuring BBK becomes a true treasury bank and that we have clients who continue to use BBK's services for a long time."

Rashad Akbari, Assistant General Manager, Operations, BBK
added: “Bahrain's banking industry remains its largest non-oil GDP contributor. The country is driving numerous initiatives in order to transform itself into an innovative finance hub in the Gulf Region. With these initiatives come new opportunities for finance technology companies and institutions aimed at digital transformation. Consequently, the country is in need of robust, affordable and risk-alleviating solutions, given the continuous rise in smart phones and internet usage. Digital banking is the way to go, and BBK's choice to partner with iGTB, with its superb customer experience in its customer facing channels, will ensure that we are a step ahead and future-ready.”

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, iGCB (Global Consumer Banking), iGTB (Global Transaction Banking), iRTM (Risk, Treasury and Markets) and iSEEC (Insurance Software).

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