Intellect Global Transaction Banking (iGTB), the transaction banking specialist from  Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence, announced that another leading bank in the Kingdom of Saudi Arabia, has chosen iGTB's Digital Transaction Banking (DTB) powered by eMACH.ai architecture to automate and elevate their transaction banking offering.  

With this technology modernisation, the bank is well-equipped to meet the rising digital demands of Corporate  & SMEs in Saudi Arabia. Industries such as Oil & Gas, Petroleum, Railway & Infrastructure, Telecom, Food &  Beverages, Hospitality, and Healthcare will benefit from the seamless solutions provided by the bank. With enhanced capabilities, the bank can effectively cater to the evolving needs of businesses in these sectors,  enabling smoother financial operations and facilitating their digital transformation journeys. 

Aligned with the objectives of Saudi Vision 2030, the bank is dedicated to fostering sustainable economic expansion and empowering the growth of the Corporate and SME sectors in the Kingdom. In pursuit of this mission, the bank has embarked on a digital transformation journey, prioritizing customer retention and acquisition by modernising its transaction banking services. By becoming a digital-first bank, it aims to deliver seamless processing and position itself as the preferred financial partner within the Kingdom, solidifying its commitment to driving financial innovation and serving the evolving needs of its customers. 

iGTB's Digital Transaction Banking suite will provide the bank with a competitive advantage by: 

● Fully transforming the bank’s focus on areas such as payments, liquidity, virtual accounts, collections and receivables and mobility. 

● Enhancing the stickiness of Corporate & SME customers by facilitating seamless digital channel  onboarding 

● Providing a unique digital experience marked by detailed, user-centric journeys 

● Boosting the range of key additional product offerings through Liquidity and Virtual Accounts with  Payments On Behalf Of (POBO) and Collections On Behalf Of (COBO) features 

● Ensuring readiness for the Kingdom of Saudi Arabia market by adhering to regulatory norms and  enabling a swift go-to-market strategy 

Mr Manish Maakan, CEO, iGTB said, “I take immense pride and honour in partnering with one of the Kingdom’s largest banks, a visionary institution committed to driving digital transformation in the banking industry. Together, we are poised to deliver cutting-edge solutions and reshape the landscape of transaction banking, while serving the evolving needs of businesses in Saudi Arabia and beyond. 

iGTB's unrivalled supremacy in the Saudi cash management market, coupled with our impressive 60% global market share among the top transaction banks, is a  testament to the resounding triumph of our market coverage strategy. Our unwavering focus on supporting Saudi transaction banks aligns with their ambition to fuel the expansion of the  Saudi digital economy and contribute to the realization of the Saudi Vision 2030. With our #winwithiGTB  approach, we continue to deliver dividends across our esteemed global client portfolios in APAC, the Middle  East, Europe, and the Americas.”