Intellect partners with Samba Financial Group to offer its signature Digital Transaction Banking platform

iGTB, the world's first complete Global Transaction Banking platform from Intellect Design Arena, today announced that Samba Financial Group, one of the region's largest and most acclaimed financial services groups, has selected iGTB's Digital Transaction Banking (DTB) solution. The bank has selected DTB to power its digital transformation initiatives to strengthen its corporate offering and help attract more customers. The solution will help the bank become more competitive, streamline internal processes and, in turn, generate additional revenue streams.

Customer preferences have changed dramatically in recent times in the Middle East, with a steep increase in the uptake of digital banking. Small, digital-only banks and fintechs are already entering the Saudi Arabian market with next-generation services, determined to win customers. For established players, the pressure is on to provide engaging digital services to protect hard-won market share. Samba Bank developed a successful digital presence but wanted to continue evolving and digitally transforming its corporate offerings.

The bank has chosen the Digital Transaction Banking (DTB) complete solution for cash management, which includes the digital omnichannel CBX for Account Services, Payments, Collections & Receivables, Liquidity Management front-end with processing capabilities across Payments, Collections & Receivables and Liquidity. DTB enables banks to be disruptive in the digital financial industry through its fully integrated transaction banking platform. Leveraging the platform, banks can build solution ecosystems that deliver seamless digital experiences across the corporate financial supply chain.

Commenting on this partnership, Mr. Manish Maakan, Chief Executive Officer, iGTB, said: "We are delighted to partner with the Samba Financial Group, one of the most progressive banks in the Kingdom of Saudi Arabia with a strong focus on customer-centricity. With a strong alignment to the Bank's ambitious transformation agenda, we believe our fully integrated DTB solution will help the bank to offer market-leading products and services to its corporate customers through enhanced digital channels. Our signature product DTB will help the bank with its accelerated goto-market plan to meet the timelines it and its customers demand."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.186.9 as compared to the previous close of Rs. 186.75. The total number of shares traded during the day was 42427 in over 363 trades.

The stock hit an intraday high of Rs. 187.9 and intraday low of 182. The net turnover during the day was Rs. 7815104.

Source : Equity Bulls

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