IDFC Bank Implements Intellect’s Banking Solutions

by Press Release    Dec 15, 2015

banking1

IDFC Bank, a subsidiary of India’s leading integrated infrastructure finance company, IDFC Ltd., has successfully implemented Intellect’s Global Transaction Banking (iGTB) solution suite.

This combined digital solution by Intellect Design Arena will play a key role in IDFC Bank’s growth plans, as it seeks to introduce a differentiated form of banking.  Having launched its operations on October 1 this year, IDFC Bank is committed to bringing world-class banking capabilities to corporates and individuals through advanced digital solutions.

“At IDFC Bank, we want to provide best-in-class products and services to our customers. The implementation of Intellect’s solution suite will give a boost to our transaction banking business, enabling us to offer customers with an entirely new and innovative banking experience,” said Avtar Monga, Chief Operating Officer, IDFC Bank.

In leveraging iGTB’s full suite of solutions–including payments, cash management, corporate banking exchange (CBX) and liquidity sweeps–IDFC Bank and its customers will benefit from:

Scalable technology to cater to huge transaction volumes, in line with India’s burgeoning transaction banking sector, greater ease, accessibility and transparency of transactions, facilitated by the latest digital innovations, optimised end-customer experience, due to the omni-channel segment-orientated set of integrated solutions; and assurance of rigorous regulatory compliance.

The deployment of the Global Transaction Banking suite was completed by Intellect in a record-breaking five-month period, with the full range of solutions going live in October 2015.

Driven by the philosophy of delivering banking anytime, anywhere at scale, by using technology to relentlessly drive efficiency, IDFC Bank aims to set new standards of customer experience and convenience.  

With a technology-first approach, IDFC Bank’s strategic partnership with Intellect is set to catalyse the delivery of these digital solutions in a seamless manner to clients.

Speaking on the partnership, Manish Maakan, CEO, iGTB, Intellect Design Arena Limited said, “We’ve kept simplicity at the core of this deployment with products and processes designed to be intuitive for optimised customer interaction while simultaneously delivering a diversified suite of customisable products. Intellect will assist IDFC Bank in its digital journey by proving real-time, flexible, and automated banking processes to maximise operational efficiency and provide best-in-class customer service. We are pleased to go live with our iGTB suite at IDFC Bank and look forward to building a legacy of trust and performance.”

“We are delighted to be a part of IDFC Bank’s transformational journey”, said K. Srinivasan, EVP & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA), Intellect Design Arena Ltd.

“Core to this project – and its delivery in a record time of just five months – was outstanding teamwork and the nurturing of a close working relationship. As a new entrant to the banking fraternity, IDFC Bank’s recognition of the power of modern technology will act as a clear differentiator and will increase the bank’s competitive edge,” he summed up.