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iGTB powered Vietcombank wins IDC Financial Insights Innovation Award 2021 Best Bank in Vietnam for Payments and Cash Management

Posted On: 2021-04-07 23:20:55 (Time Zone: Arizona, USA)

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence, are delighted to congratulate Hanoi-headquartered Vietcombank for winning the IDC Financial Insights Innovation Award 2021; Best Bank in Vietnam for their Payments and Cash Management system initiative.

The well-known IDC Financial Insights Innovation Awards aims to recognise outstanding achievements in the financial sector for the use of technology. The awards program honours Asian financial services institutions who have realised business outcomes well through the novel application of IT innovation.

Vietcombank received this award for many notable achievements, among which included improving customer stickiness, acquisition of new customers, faster time-to market and product readiness. Also cited was Digital 360 - the full seamless, omnichannel access by businesses to banking services using any device or channel, information from other banks, and integration with other services and access to external data sources - powered by iGTB's Digital Transaction Banking (DTB) Enterprise Suite.

iGTB's DTB Enterprise Suite delivers a superior omnichannel customer experience to grow the bank's corporate customer base and prepares banks to provide for every client's and every sector's needs with a contextual, configurable and intelligent platform that provides real-time insights and encompasses every aspect of transaction banking. With DTB, transaction banks can successfully reduce their operational expenses and provide a seamless user experience with the ability to improve productivity and lower the TCO, maximise fee-based revenue, create new avenues to cross sell and up-sell and acquire new customers.

Commenting on the award, Mr. Manish Maakan, CEO, iGTB, said, "iGTB congratulates Vietcombank for this prestigious Financial Insights Innovation Award from IDC, one of the premier global providers of market intelligence and expert advisors on technology. We applaud the vision of Vietcombank to enhance their digital proposition in Vietnam for corporates, create customer stickiness with the ability to quickly respond to customer changes, backed by configurable technology platform by iGTB for faster responsiveness to the market needs."

He added, "iGTB's DTB Enterprise Suite powers more than 50 global banking groups across APAC, Middle East, Africa and South Asia. The evidence further shows that the world's best corporate and transaction banks succeed across the world in partnership with iGTB."

According to Darshiniy Selvaratnam, Program Director of the IDC FIIA 2021, "Vietcombank's proposition as the Best Bank in Vietnam was awarded for excelling in the category of Foundation, that covers the infrastructure capabilities underpinning digital transformation strategies. The payments and cash management system is a prime example of integrated banking infrastructure with cross-product transaction flows that powers growth and innovation, setting the pace for the wave of digital transformation in Vietnamese banks. The Digital 360 program has also demonstrated stellar performance in providing operational excellence through lean operations and the better management of technology resources."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.733.9 as compared to the previous close of Rs. 737.1. The total number of shares traded during the day was 20470 in over 1030 trades.

The stock hit an intraday high of Rs. 748.7 and intraday low of 730.1. The net turnover during the day was Rs. 15078615.

Source: Equity Bulls

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