Intellect Global Transaction Banking (iGTB), the transaction banking division of Intellect Design Arena Ltd, the leading B2B fintech with 21% CAGR over three years, has entered into a collaboration agreement with Bolero International, the world's premier trade digitisation experts, with goals to make trade safer, smarter and faster.
Both firms are looking at exploring developments of digitally-led commercial trade and supply chain finance business propositions. The new partnership will initially look at how coupling iGTB's strong product processors with Bolero's diversified global digital ecosystem can lead to the elimination of inefficiencies in trade transactions while at the same time boosting revenue enablement.
Manish Maakan, CEO,iGTBsaid"The focus at iGTB is to work with banks in the areas of revenue growth, improvements in returns on equity and cost/income ratios, while developing tools which help banks with effective risk and compliance governance frameworks, and this has led to a number of recent large wins in trade finance/supply chain.Our partnership with Bolero International will capitalise on their expertise in trade digitisation to help reduce operational risk in an industry that is dominated by manual and inefficient processes."
The first potential collaboration will be combining forces to validate the commercial viability of solutions creating a global secure digital marketplace for origination and distribution of trade and supply chain finance assets.
Ian Kerr, CEO, Bolero International said. "We are very excited to be collaborating with iGTB. They share our passion for practical innovations that make supply chain trade finance safer, smarter and faster through the power of digitisation and the elimination of time-consuming manual processes.Both teams will be pooling their years of expertise to build solutions that transform the efficiency and revenue enablement of supply chain trade finance. The benefits are potentially immense, providing banks with access to global multi-investor classes while strengthening their relationships as service providers and partners."
Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.202.4 as compared to the previous close of Rs. 214.95. The total number of shares traded during the day was 62851 in over 1135 trades.
The stock hit an intraday high of Rs. 218.45 and intraday low of 201. The net turnover during the day was Rs. 13032177.