Intellect Global Transaction Banking (iGTB), the transaction banking arm of Intellect Design Arena, a cloud-native, future-ready, new-gen multi-product FinTech company for the world’s leading financial and insurance institutions, has been awarded World’s Best in Virtual Accounts management at the Global Finance Treasury and Cash Management Systems Awards 2023. 

The winning award recognises iGTB’s product innovation in Virtual Account management and the extent to which iGTB has successfully differentiated its Virtual Account management capabilities from its competitors.

According to Joseph Giarraputo, President & Editorial Director, Global Finance, “A market leading global transaction banking platform, iGTB provides global coverage for its Virtual Account Management (VAM) solution across 5 continents and 18 countries. iGTB’s Virtual Account Management offers corporate banking clients a seamless customer journey and user experience across multiple business segments”.

Manish Maakan, CEO, iGTB commented “This global win is a tribute to our team’s incredible dedication in driving meaningful change by listening to our clients, understanding their needs and providing technology that creates enhanced efficiencies and scalability. iGTB’s Virtual Accounts solution has brought innovation to the centre stage by helping banks integrate closely with their customers’ financial value chain. The iGTB platform has allowed virtual accounts to be deployed as part of a broader sub-accounting platform that supports reconciliation, cash management & in-house banking, client money management & escrow, and also Banking-as-a-service.”

He added, “This prestigious recognition from Global Finance, one of the most respected financial media publications, just further substantiates our credentials in transaction banking. We remain committed to helping banks deliver innovative products to support their clients' treasury requirements. This solution is an important component of our broader Corporate Treasury Exchange (CTX) offering that holistically brings together a bouquet of solutions on a cloud-native architecture. Corporate treasurers on CTX can now manage cash and liquidity in a manner that delivers a higher return on cash capital, while simultaneously protecting the bank and providing incremental value to its shareholders.”

The award highlights iGTB’s Virtual Accounts Management capability, including: 

1. comprehensive sub-accounting platform technology designed to transform corporate treasury operations - with the enablement of straight-through reconciliation, sophisticated payment factory and a robust client money management solution. 

2. self-service functionality delivers to the banks’ customers flexibility and control by allowing the customers to open/close virtual accounts, transact using these accounts, manage limits and interest on inter-company positions and conduct account reconciliations.