HLBB partners Intellect to ramp up Wholesale Banking services

HLBB partners Intellect to ramp up Wholesale Banking services 

i) Local banking group to diversify transaction banking platform 

ii) Large export-oriented corporation and SME clients to benefit from greater availability of digital and realtime financial services from HLBB 

LONDON(UK)/KUALA LUMPUR (Malaysia)/CHENNAI (India), 19 August 2015 – Hong Leong Bank Berhad (HLBB) today announced the appointment of Intellect Design Arena Limited (‘Intellect’), a specialist in applying Digital Technologies across Banking and Insurance, as its partner in the bank’s effort to transform and digitise its wholesale banking offerings. 

The bank’s adoption of Intellect’s multi-award winning Intellect Global Transaction Banking (‘iGTB’) suite is in line with the global Banking 3.0 trend whereby technologies such as mobility and cloud are redefining financial services and payments worldwide. 

YM Raja Teh Maimunah, MD/ CEO, Hong Leong Islamic Bank says, “Following the digitisation of our Personal Financial Services, HLBB is now turning its attention to the corporate banking space with a focus on the development of realtime payment offerings in order to better support its Malaysian corporate clients both domestically and globally. More of our wholesale banking clients have gone global and expect more competitive banking services to facilitate their cross-border businesses. As customers nowadays seek other alternatives apart from the physical branch, this offering provides the ability to access information, select products and make transactions from anywhere and at any time.” 

Manish Maakan, the CEO of iGTB, Intellect Design Arena Limited states, “Digitalisation and mobility has changed the way businesses run. Local banks are seeing more non-banking players crowding into their space as their customers want more flexibility, multiple-channel payment options and the ability to do this all in a secure and fast manner. We are honoured to be chosen by HLBB to help transform its digital transaction banking services platform.” 

HLBB’s purchase of the Intellect iGTB suite will consist of the digital omni-channel delivery platform and related applications in digital Cash Management, Liquidity Management, Domestic and Foreign Payments, Trade Finance and Supply Chain Financing. Via Intellect’s iGTB, HLBB will be equipped to facilitate mass adoption of real-time digital payments amongst its corporate clients. Additionally, the bank can implement straight-through-processing between the bank and local/ international payment gateways, as well as host-to-host integration with its clients’ accounting and back-end systems. With this, HLBB clients will truly be able to adopt modern business processes and transaction management capabilities.

Full Notice: http://www.bseindia.com/corporates/anndet_new.aspx?newsid=5e0544f7-038e-4b4d-81ac-3fac3eb20d76