Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the fastest growing Fintech product company with the CAGR of more than 21% over past three years, has been selected by QNB Group, the largest financial institution in the Middle East and Africa (MEA)
region, to implement a comprehensive digital cash management platform that will cover payments, payment pre-processing, mobile, and account services.
QNBâ€™s new global system will be able to handle high volumes and improve the efficiency of the bankâ€™s operations â€“ supporting its objective to provide support to the countryâ€™s SMEs and infrastructure companies, both main components of diversifying the national economy in line with economic pillar of the Qatar National Vision 2030 aimed at transforming the State into a knowledge-based economy.
Adel Al Malki, Genral Manager, Information Technology, QNB Group saidâ€œTo date, the government has been the main driver for the implementation of QNV 2030, but we can play a vital role in nurturing the private sector, providing a one-stop shop for their financial needs and taking a leading role in providing funding and liquidity for infrastructure companies. To do this, and to support our growing client base more broadly, we need a state-of-the-art system that can handle high volumes, drive efficiency, and address the full range of financing needs across multiple channels. iGTBâ€™s CBX provides this.â€
“This solution will also be a critical enabler for our ambitious growth plans â€“ giving us the tools to open up new lines of business, offer support for multi-country regulatory issues and other local requirements, and provide faster client on-boarding. International expansion is one of the cornerstones of our strategy to become a leading global bank by 2030â€™â€™, Al Malki added.