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iGTB and the National Bank of Kuwait collaborate on digital transformation.

April 15, 2024
2 Min Reads

The transaction banking expert from Intellect Design Arena Limited, Intellect Global Transaction Banking (iGTB), has secured an extended mandate from National Bank of Kuwait (NBK), one of the top 10 banks in the GCC, to complete a full digital transformation by modernizing current channels and offering new digital capabilities in transaction banking.

With the help of iGTB's Digital Transaction Banking, NBK is improving and modernizing its online corporate banking platform by providing SMEs and corporate clients with simple, safe, and easy-to-use digital solutions. In a variety of industries, including oil and gas, construction, electricity and water, and transportation, NBK can provide its clients with the greatest omnichannel and mobile banking experience by concentrating on next-generation digital banking.

In terms of scalability and transaction volumes, the bank has advanced significantly with this transition. It plays a major role as a stimulant for the NBK's expansion goals in Kuwait and the Middle East.

 

"Our enduring alliance with National Bank of Kuwait, which has spanned a remarkable decade, highlights iGTB's influential position in the digital transaction banking field within Kuwait," stated Mr. Manish Maakan, Chief Executive Officer of iGTB, in response to this relationship. We are collaborating with NBK on their expansion path in line with the aspirational New Kuwait 2035, with an emphasis on integrating cutting-edge technology and digital improvements for the advantage of their corporate and SME clientele.

 

He went on to say, "This collaboration is essential to NBK's goal of being the first "digital-first bank with trendsetting innovation" in the MENA area. Nine of the top ten Middle Eastern banks are among the more than 60% of the world's leading corporate banks that #winwithiGTB and are supported by Intellect's transaction banking products and solutions.

The iGTB suite of transaction banking products prepares commercial banks for a new era of customer-centric services by providing a single global ecosystem of consumerization for banks in the areas of supply chain finance, investments, deposits, cash management, cash pooling, cash forecasting, payments, virtual accounts, SME lending, corporate DDA, trade, and money management. These products are specifically designed to make it easier for corporate clients to make, move, and manage money.

 

The first global transaction banking platform in the world, iGTB is a creation of Intellect Design Arena. With iGTB's extensive range of transaction banking tools, banks can fulfill their goal of serving as their corporate clients' principal banker. Contextual Banking Experience (CBX), a white-labeled digital engagement banking platform that provides a smooth and contextual user experience for managing digital channels for cash and trade, powers the platform. For more

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