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The Bank of Bahrain and Kuwait goes live with iGTB's Contextual Digital Transaction Banking platform to support growth

Posted On: 2020-09-16 18:38:04 (Time Zone: IST)


Intellect Global Transaction Banking (iGTB), the world's first complete Global Transaction Banking Platform from Intellect Design Arena Limited, today announced that BBK (Bank of Bahrain and Kuwait), Bahrain's leading bank delivering brighter banking experiences to its customers, is now live with iGTB's fully integrated Digital Transaction Banking platform (DTB). DTB will empower BBK to rapidly and cost-effectively deliver innovative digital banking services and exceptional customer experience for its corporate customers.

DTB enables banks to be disruptive in the digital and financial industry through its fully integrated front-to-back transaction banking platform. Leveraging the platform, banks can build solution ecosystems that deliver seamless digital experiences across the corporate financial supply chain. DTB helps banks provide better service to their corporate customers, help their clients grow organically, fulfil their needs through technology, penetrate more client segments, and ultimately become the principal bank for corporations' businesses, great and small.

BBK clients can now benefit from the integrated DTB suite, which includes product processors of Payments, Account Services, Inward Remittance, Collections & Receivables, and Liquidity Management. Additionally, Host-to-Host, ARX Security along with front-end CBX and mobility across all product lines make it a fully comprehensive solution. The smooth go-live highlights the commitment of technology groups of both BBK and iGTB, and more importantly, their ability to successfully deploy complex transaction banking technology in this challenging business climate, starting only in 2019.

Abdulrahman Ali Saif, Group Chief Executive, BBK said: "BBK is leading the digital revolution in Bahrain with digital transformation projects. The Bank is known for its leadership in deploying technology enabled services and in retaining that position, understanding how imperative it is to have a digital environment that supports innovative, customizable and rapidly deployed products. Our new integrated transaction banking platform "BBK BanKey" allows clients - both SMEs as well as multinational corporations - to consistently view, monitor and control their consolidated financial data. This cash management platform has been equipped with sophisticated payment, reconciliation and liquidity management solutions that go well beyond what it is currently available in the Bahrain market and is accessible through electronic channels including mobile application - a first in Bahrain that enables our corporate clients to access their accounts anywhere, at any time, irrespective of the jurisdiction they operate in - ensuring BBK is their trusted banking partner."

Manish Maakan, CEO, iGTB, said: "BBK is a strong example of a forward-thinking organization embracing digital. Now equipped with an integrated suite of transaction banking solutions, BBK can set itself apart from the competition to win more corporate customers and boost market share. They have already seen compelling results with iGTB's platform that demonstrate real value."

He further added, "Already a trusted partner in Middle East region, iGTB has provided with DTB a superb digital banking omni-channel user experience, with end-to-end integration that allows the bank to create fully customized products and services over multiple channels."

Over 40 banks across Asia, Middle East, India and Africa have DTB as their trusted transaction banking digital solution.

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.207.5 as compared to the previous close of Rs. 205.1. The total number of shares traded during the day was 24972 in over 662 trades.

The stock hit an intraday high of Rs. 209.8 and intraday low of 197.3. The net turnover during the day was Rs. 5123056.


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