From collaboration to revolution: The iGTB and Vietcombank partnership

Intellect Global Transaction Banking (iGTB), a division of Intellect Design Arena, has gained recognition for its role in transforming the banking landscape. In a case study by UK-based IBS Intelligence, a leading independent financial services analysis and advisory firm, Intellect Global Transaction Banking (iGTB) showcased how it has been a catalyst for change through its partnership with Vietcombank, one of Vietnam’s largest commercial banks.

Transforming the Banking Landscape: iGTB and Vietcombank

The case study reveals the remarkable results achieved by Vietcombank as it embraced a modernized integrated banking infrastructure from iGTB. This transformation not only streamlined cross-product transaction flows but also set a new standard for digital transaction banking.

Vietcombank’s shift towards centralising its transaction banking systems, enabling omnichannel capabilities, and offering efficient product configuration proved to be a game-changer. It facilitated quicker product and service launches and boosted operational efficiency, ultimately enhancing the bank’s client experience.

One standout result of this collaboration is Vietcombank’s ability to process a staggering 1.5 million transactions per month, a testament to the success of its CashUp digital transformation program. Since the program’s launch in 2021, the CashUp customer base has expanded by a remarkable 600%, while Vietcombank achieved a 150% increase in CASA (Current Account and Savings Account) growth for CashUp customers.

The successful implementation of Vietcombank’s CashUp initiative is seen as a model for other banks in Vietnam and Asia looking to strengthen their digital infrastructure for corporate banking processes and services. The program showcased effective collaboration between local and remote teams, highlighting best practices for empowering corporate banking processes and services through digital infrastructure.

iGTB’s Role in Corporate Digital Transformation

Manish Maakan, CEO of iGTB, praised Vietcombank’s vision for enhancing its digital proposition for corporates in Vietnam. He emphasized that iGTB’s Digital Transaction Banking platform, powered by eMACH.ai technologies, fosters customer loyalty by quickly responding to customer and market needs, demonstrating iGTB’s key role in corporate digital transformation programs worldwide.

The case study report underscores iGTB’s innovative role in the ongoing transformation of banking and financial services. More than 100 global banking groups across the Americas, Europe, India, the Middle East, and Asia trust and rely on iGTB’s Transaction Banking Platforms for daily transactions, reflecting its impact on global financial processes.

The partnership between iGTB and Vietcombank has undoubtedly set a new standard for banking in Vietnam and beyond. The success of the CashUp program highlights the potential for other banks to follow suit, harnessing digital innovation to enhance the efficiency and reach of their corporate banking services.

About Intellect

Intellect Design Arena (Intellect) is a global leader in Financial Technology (FinTech) for Banking, Insurance, and other Financial Services. They provide Large Enterprise-Grade Composable and Contextual solutions that drive higher business growth, reduce cost and risk, and support sustainable business practices.

Intellect is committed to helping its clients achieve their business aspirations through digital transformation. Their ground-breaking solutions are powered by their NextGen Open Finance, Composable and Contextual FinTech architecture, which challenges, innovates, and sparks change through disruption.

Intellect is known for its:

• Customer Intimacy: They provide solutions that are unique to the bank, corporation sectors, and organizations.
• Operational Excellence: They offer superb Straight-Through Processing (STP) for rapid execution simply initiated with strong risk management, each and every time.
• Product Leadership: They have demonstrated the ability to improve the potential for corporations to make money.

• Actionable Intelligence: Through Intellect, banks can obtain rich information and analytics in real-time, enabling them to make better decisions to execute the next transactions.

Financials

Over the past three years, the company has demonstrated robust financial performance, exhibiting a compelling compounded sales growth rate of 18%. This impressive growth has not only translated into substantial revenue generation but also contributed to a remarkable compounded profit growth of 271%, a clear indicator of the company’s profitability and operational efficiency.

Furthermore, investors have reaped the rewards of this outstanding performance, with the stock price showcasing a compelling Compounded Annual Growth Rate (CAGR) of 41% over the same period. The company’s Return on Equity (ROE) has also exhibited strong results, boasting a 3-year ROE of 18%. These financial metrics reflect a company that has not only sustained growth but has also delivered value to its shareholders through profitability and stock price appreciation.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.