Oct 16: iGTB, the transaction banking and technology platform from Chennai-based Intellect Design Arena Ltd, has been selected by Bangkok Bank as a technology partner to implement a comprehensive cash management platform and corporate portal. Bangkok Bank is Thailand’s market leader in corporate and small and medium-sized enterprise (SME) banking.
According to Intellect Design Arena, 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, it added.
Manish Maakan, CEO, iGTB, said, “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.”