Mumbai: Intellect Design Arena’s platform Intellect Global Transaction Banking (iGTB) will adopt Microsoft Cloud for banking transformation.
iGTB will integrate with Microsoft Cloud for Financial Services. The company announced Monday that it has partnered with Microsoft to drive corporate banking transformation on the cloud. This will speed up cloud adoption and digital initiatives of corporate banks.
iGTB to adopt Microsoft Cloud
Under the partnership, Intellect Design Arena‘s iGTB will adopt Microsoft as its preferred cloud platform to help banks’ go-to-market 3 to 4 times faster with Liquidity, Cash Management, Payments, Trade Finance & Supply Chain Finance cloud offerings to their corporate clients.
This partnership is set to drive sustained banking digitalisation, help banks transform their corporate banking business models, modernise their cloud technology stacks, and consume “Banking-As-A-Service” out-of-a-box.
Banks can now get access to bank-grade secure and hyper-scalable cloud infrastructure paired with iGTB’s cloud-native banking technology to fully support burgeoning customer demands and regulatory needs.
Banks earned a colossal almost-$1 trillion from commercial banking, with high and growing demand for SaaS applications. Transaction banks serve over 200 million corporations worldwide with critical needs for agility, working capital and for the ability to navigate the supply chain.
Corporate banks aim to spend by 2025 $9.3 billion just on applications, with SaaS cloud spending growing to 25% of it.
“This collaboration with Microsoft allows just that: security and worry-free scalability while allowing the bank to launch products 3x to 4x faster, deploy updates and enhance the customer experience quickly and easily,” said Manish Maakan, CEO, iGTB.
“Equally importantly, it frees up capital, lowers the complexities and risks associated with the traditional digital transformation, and significantly reduces time-to-value. We look forward to taking together the “Banking-As-A-Service” proposition to 1000 banks across 70 countries, and helping them dramatically expand their transaction banking business at a lower cost,” added Maakan.
“iGTB’s integration of the Microsoft Cloud creates a powerful platform for banks to streamline and modernize their transaction banking business in the cloud,” commented Bill Borden, Corporate VP – Worldwide Financial Services, Microsoft.