intellect Global Transaction Banking (iGTB), the transaction banking business unit from the London headquartered Intellect Design Arena Ltd has announced a significant partnership with National Bank of Fujairah(NBF), a UAE-based award winning full service Corporate Bank, to enhance its digital capabilities. This deal marks the first cloud-managed service for iGTB in this region.
NBF currently serves corporates and SMEs through its network in the UAE, providing financial services to optimise commercial opportunities and achieve sustainable growth for their clients. With eMACH.ai
Digital Transaction Banking solution, NBF can offer their clients a suite of comprehensive solutions backed with innovative decision-making and enhanced digital capabilities, for improved information visibility and innovation ensure quick decision-making and a seamless user experience for corporate and SME clients.
iGTB, with eMACH.ai Cloud, will provide a fully managed cloud service, freeing NBF to focus on business development and client service. The vendor previously extended the same platform to Jordan Kuwait Bank in April.
Manish Maakan, CEO of iGTB said that by selecting Intellect Global Transaction Banking, NBF has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside their business.
NBF’s commitment to advancing its transaction banking infrastructure reflects the critical role of technology to drive growth and innovation in Commercial Banking, he said.
He added: “This is our first deal to be hosted on eMACH.ai Cloud managed services in the region and is a significant step in UAE’s digital transaction banking landscape. Today, over 60% of the world’s best transaction banks #winwithiGTB and this deal signifies a pivotal step in cementing iGTB’s leadership position within the UAE & GCC market, underscoring our dedication to offering leading-edge digital banking solutions.”
NBF’s digital endeavours to date include launching an SME digital banking platform in 2019, rolling out the Klip digital wallet solution in 2020, and most recently, adopting the Central Bank of the UAE’s instant payments platform last October.
Comprehensive Platform
Intellect Design Arena Limited is an enterprise-grade financial technology leader, providing composable and intelligent solutions for futuristic global financial institutions across 57 countries. Intellect’s revolutionary First Principles Thinking-based Enterprise Connected Intelligence Platform, eMACH.ai, is the most comprehensive open finance platform in the world.
With an impressive array of 329 micro services, 535 events, and over 1757 APIs, eMACH.ai enables financial institutions to design and deploy future-ready technology solutions that provide a significant global competitive edge. It is an enterprise-grade financial technology lead.
About iGTB
intellect Global Transaction Banking offers banks a single global ecosystem of consumerization for liquidity, investments, deposits, cash management, cash pooling, cash forecasting, payments, virtual accounts, SME lending, corporate DDA, trade, and supply chain finance. The iGTB suite of transaction banking products, powered by the Contextual Banking Experience (CBX), a white-labelled Digital Engagement Banking Platform, and is specially designed to enable corporate clients to make, move, and manage money.
It also enables banks to achieve their ambition of being the principal banker to their corporate customers.
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