Intellect Design Arena’s Enables Digital Transformation at Jordan Kuwait Bank

On April 22, 2024, the transaction banking specialist from Intellect Design Arena Limited, Intellect Global Transaction Banking (iGTB), announced in the stock exchange filing about the Jordan Kuwait Bank’s (JKB) successful implementation of Digital Transaction Banking (DTB) platform enabled by eMACH.ai architecture.

The company stated that this implementation offers a completely integrated, mobile-first, state-of-the-art, omnichannel experience to power Jordan Kuwait Bank’s growth ambitions in the Arab region based on Jordan Vision 2025.

The essential highlights of this digital transformation include:

• The platform features out-of-the-box features for trade finance, digital cash management and payments powered by the eMACH.ai architecture platform.
• The award-winning omnichannel Digital Customer Experience suite supports this and comprehensive mobile banking services.
• The platform provides seamless digital experiences throughout the corporate financial supply chain, digitising transaction banking operations.
• SME and corporate clients in Jordan across various sectors, such as real estate, power, energy, medical, aviation, and hospitality, can profit from this enriched digital platform, which offers outstanding customer experience and improved product offerings and services from the bank.

Speaking about this implementation, the Chief Executive Officer of iGTB, Mr Manish Maakan, said, “Our fully integrated Cash & Trade Digital Transaction banking platform has emerged as the premier global solution for Transaction Banking needs in Jordan and the Middle East. Whether it’s delivering a modern Contextual Banking experience or providing robust technology to support cash, liquidity, payment, trade, and virtual account operations, our platform stands at the forefront.”

He further added, “Corporate clients can now enjoy an experience previously exclusive to retail and B2C sectors. Among the six banks providing Transaction Banking services in Jordan, three of the largest now rely on iGTB, capturing an impressive 50% market share. Today, more than 60% of the world’s top corporate banks #winwithiGTB and are powered by Intellect’s Transaction banking products and solutions, this includes 9 of the top 10 Middle East banks.”

Providing banks with a single global consumerisation ecosystem for payments, investments, liquidity, deposits, cash pooling, cash management, cash forecasting, virtual accounts, SME lending, trade, and supply chain finance, the iGTB suite of transaction banking products is specially developed to help corporate clients to make, move, and manage money. Not only that, but it also prepares commercial banks for a new age of customer-centric services.

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.