Emirates NBD Selects Intellect for End-to-End Digital Transformation of its Transaction Banking Business

Deepthi | Myequity news | Date : 26-02-2019 10:55:00 IST

Emirates NBD, a leading bank in the Middle East today announced a planned end-to-end digital transformation of its Transaction Banking platform.

The transformation is part of the banking group's commitment to digitize operations, products and services, enhancing its proposition to corporate clients and retail customers. Supported by Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the planned project is aimed at strengthening Emirates NBD Transaction Banking's market leadership and will cover the bank's operations across trade corridors in the UAE, KSA, Egypt, India, Singapore and the United Kingdom.

Commenting on the planned transformation, Sumit Aggarwal. EVP and Group Head, Transaction Banking Services, Emirates NBD said: "iGTB's in-depth domain knowledge and expertise made it our partner of choice to create a best-in-c1ass digital Transaction Banking platform that will strengthen our capability to respond to evolving business needs. Clients are at the centre of our digital transformation journey and this platform will enable our clients to seamJessly manage all .aspects of working capital management, with enhanced visibility and data analytics."

Emirates NBO's investment in a new digital platform will strengthen the bank's position as the country's market leader in Transaction Banking. The project integrates iGTB's digital transaction banking platform powered by the integrated front-end, omni-channel CBX portal to deliver a seamless user experience to Emirates NBO's corporate clients. The new platform will offer clients the ability to view, monitor and control their working capital needs across cash management, trade and FX enabling easy, informed and on-the-go decision making with one-click efficiency in addition to fully integrated back-end product processors across all lines of business.

Manish Maakan CEO, iGTB said: "This significant deal, with our 29th OTB client, reiterates our market leadership in the Middle East with iGTB being the preferred go-to digital transformation partner for the transaction banking space. Our unwavering design-driven culture puts banks and businesses at the centre of everything we do. This not only creates desire and establishes trust with banks, but also results in a distinct advantage for them. We are delighted to support Emirates NBO's digital transformation journey, especially given the Middle East's strong position as a hub for global trade."

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).

More from Myequity