World’s first cloud-native platform for banks launched in the UAE

The world’s first cloud-native, fully integrated cash management platform powered by microservices and open banking APIs for banks in Middle East & North Africa has launched in the UAE.

Intellect Global Transaction Banking (iGTB) recently announced its completely reimagined digital transaction banking on a cloud platform. This platform is driven by a complete product suite that includes cash management, payments, account services, self-onboarding, liquidity, and virtual accounts, and is available in three easy-to-use bundles: CashNow, CashXtra, and CashPower. With a unique pay-as-you-grow pricing approach, each bundle is built particularly for banks at varying stages of transaction banking digital maturity.

The bundles are designed to accelerate sales cycles for banks, increase stickiness across their client segments, and impact the customer experience with a fully digital 360 offering, and are curated with iGTB’s extensive repertoire of user journeys and domain packs built up from its large client base.

According to Manish Maakan, CEO, iGTB,

“CIOs and CTOs that run the bank IT, can reap value from cloud platforms by completely re-thinking digital technology transformation. The time to commercialise is reduced 4-6-fold, so that banks can go live in weeks rather than months.”

“iGTB’s cloud-ready digital transaction banking platform will help de-risk banks’ IT operations with up to 40 per cent reduction in IT total cost of operations (TCO). Pre-configured domain packs for the GCC and North African markets will speed up bank’s go-to-market product launch aided by the operationally ready suite of 135+ open banking APIs to help roll out consumer-friendly innovative features. Corporates and SMEs can be rapidly onboarded, saving up to 70 per cent in onboarding costs, bringing in operational efficiency, and driving down acquisition costs. All this backed by pay-as-you-grow ready-plans that can help banks go-live in as fast as 10 weeks, leveraging our global cloud infrastructure from Microsoft Azure.”

News Source: Gulf Business