Bank Central Asia spearheads Indonesia's Digital Transformation with iGTB's Cash Management Platform

Deepthi | Myequity news | Date : 26-09-2018 13:50:00 IST

Bank Central Asia, one of Indonesia's largest banks has gone live with iGTB's Digital Transaction Banking platform, digitalising its Cash Management and Liquidity Management offering for large corporate clients & SMEs and progressing the country's 2020 'GoDigital' Vision.

The implementation of DTB enables BCA to offer a comprehensive, Digital Transaction Banking solution to its local market for the first time. And as improved connectivity, higher internet penetration and a young, growing and affluent population drive traction for digitalisation in Indonesia - digital banking penetration is set to hit 60% by 2020 - this implementation sees BCA spearhead the digital transformation of a corporate banking sector that is hastening to follow suit.

The second phase that went live recently brings an additional 40 customer journeys into operation. The platform now handles over USD 1bn transactions per month, benefitting over 275 corporate clients in just 12 months - with an unparalleled level of straight-through processing. Transaction value has grown 300% in just three quarters.

Jayaprawirya Diah Head of Digital Innovation Solution at SCA says: ''This implementation gives us a one-stop solution to answer our corporate clients' or customers' needs- meaning they no longer need to worry about switching between different portals, or aggregating data from several sources. iGTB's DTB suite is flexible enough to accommodate user demands of all kinds, and we are sure our customers will be delighted by the benefits in terms of efficiency and user experience."

Manish Maakan. CEO of iGTS says: "We're delighted to support Bank Central Asia as it contributes to Indonesia's2020 Go Digital vision, which is expected to realise over USD 130bn e-commerce transactions by 2020. Improving cash management services for Indonesian banks and their corporate clients is only possible using technology that is secure, convenient and efficient - and DTB is all these things. This platform will play a key role in helping Indonesian SMEs and corporates contribute towards the goal of transforming the economy and set the benchmark for modernisation in the country."

About Intellect Design Arena Ltd:

Intellect Design Arena Ltd, is the world's first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.

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