iGTB-Pivotal partnership brings contextual corporate banking to the cloud – covered in specialist press

iGTB and Pivotal Software, Inc.  recently announced the upcoming availability of iGTB’s next-generation Cash Management platform, CBX 18, on Pivotal Cloud Foundry® (PCF), one of the world’s most powerful cloud-native platforms, to bring “on-tap” corporate banking capabilities to the financial services industry.

CBX 18 – an API-first and microservices-based platform – heralds a new era of “contextual” corporate banking capabilities – using predictive analytics and machine learning to provide corporates with automatic, tailored “best-next” actions and offers, based on their business context. This approach brings customer service to unprecedented heights through simple, one-click solutions for corporate treasurers while banks can cut costs, retain and deepen client relationships and open up new revenue streams.

Allowing banks to deploy the CBX 18 solution on their preferred platform, Pivotal Cloud Foundry can result in faster delivery, shorter release cycles, and better integration with their existing ecosystems.

To read coverage of this news in the specialist press, go here: PYMNTSBobsguideGB&FRPayment WeekFinextraIBS JournalFintech FinanceThe PaypersFinance Digest, Financial IT.

iGTB’s Anand Pande is panellist at BCR World Supply Chain Finance Report 2018 roundtable

iGTB’s Head of Trade and Supply Chain Finance, Anand Pande, has been featured as an industry expert in a roundtable for BCR’s World Supply Chain Finance Report 2018, published in January at the Supply Chain Summit in Frankfurt, Germany.

The 4th edition of the report interviews domain specialists on how technology is not only helping shore up supply chains, but is also bringing together banks and technology providers. As one excerpt from Pande on how technology is changing supply chain finance, he writes: “There is optimism regarding the progress made on the risk mitigation, compliance, due diligence and cost reduction sides of supply chain management, thanks to the application of technologies such as optical character recognition, imaging, robotic process automation, natural-language processing and artificial intelligence.”

To access BCR’s World Supply Chain Finance Report 2018 and see Anand’s full contribution to the roundtable, please go here.

iGTB’s appoints Ravi Pandit as US Sales Head – covered in specialist press

iGTB has appointed Ravi Pandit as EVP & Head of Sales, USA. Ravi has almost two decades of experience in financial services business development in North America, and his appointment underlines iGTB’s ambitions to extend its market-leading products across the wider US market.

Ravi will be based in iGTB’s New Jersey US headquarters and will be responsible for spearheading the company’s further expansion in the US – bringing on board strategic banking clients that are undergoing significant digital transformations in response to fast-changing market conditions.

Commenting on the appointment, Manish Maakan, CEO at iGTB, says: “Ravi’s appointment is a big win for us. Aside from his success at Backbase, his global consulting experience with Capgemini will inspire confidence among top-tier bank executives overseeing widespread digital transformations, and his time at Oracle gives us an invaluable insight into how to win against leading brands to bring our own offering and quality of work to new clients. I’m truly excited at the progress that we can make with Ravi’s appointment.”

The news was covered in the specialist press: Business Standard, Finance Digest, PYMNTS, Financial IT, Fintech Finance, Global Banking and Finance Review, India Bull Ventures, India Info Online, Payment Week, TXF.

iGTB’s supply chain finance platform implementation at Bank of Baroda covered in specialist press

iGTB has implemented a comprehensive supply chain finance platform for Bank of Baroda, India’s International Bank.

With a $418 billion finance gap in the Indian SME sector alone, the roll-out of the digital platform will extend new financing and working capital opportunities to the bank’s numerous clients – and their partners – expected to boost the number of digital transactions across the nation. Prime Minister Narendra Modi’s “Digital India” initiative – which aims to drive economic development through wide-ranging digital transformation across the country – has set an ambitious target of reaching 25 billion digital transactions in 2017-18.

Furthermore, increasing trade across a country rapidly establishing itself on the global stage is a high priority – India’s exports of $261 billion are up by 47.7 per cent since 2009, and its internal trade as a proportion of GDP is at a healthy value of 54 per cent.

Finally, by supporting the bank’s manufacturing clients across the country, the platform is helping Modi’s “Make in India” initiative become a reality – transforming India’s economy into to a world-class manufacturing hub.

The news was covered in a number of specialist and tier-one outlets: Asian BankerAsian Banking and FinanceBusiness StandardPYMNTSBanking TechnologyFinextra, FTSE Global MarketsIBS Intelligence, The PaypersTXFTRF News, GB&FRFintech FinanceFintech TimeFinance DigestIndian CommodityCapital Market, IBVIndia Info OnlineInvestment Guru IndiaReligare BrokingSupply Chain Log.

iGTB unveils vision for transaction banking future in two new whitepapers – covered in specialist press

iGTB has launched two whitepapers outlining its vision of “contextual banking” – which sees banks use contextual data to provide clients with automatic and tailored recommendations via a digital platform. The papers argue such an approach will bring customer service to unprecedented highs – providing simple, one-click solutions for cash management and payments optimisation – while also cutting bank costs and opening up new revenue streams.

 

Commenting on The contextual revolution: Cash Management’s answer to Amazon and Siri, and Payments done properly: Contextuality holds the key to operational efficiency, Manish Maakan, CEO of iGTB, says: “We think most banks ask too much of their clients – leaving them to research and understand the vast array of banking products at their disposal and determine which is best for their business in each new situation. No other industry expects so much of its clients. Contextual banking is about reducing that workload – and making transaction banking an exemplar, rather than a cautionary tale, of customer service.”

Read coverage in the specialist press here: Business StandardFinancial ITPayments JournalPayment WeekFinance DigestFinalayaIBV.

iGTB’s Michel Jacobs quoted in Global Finance magazine in article on AI in banking

Michel Jacobs, Head of Global Sales and Head of Digital & Payments at iGTB, has been quoted in in a feature article for the December 2017 issue of Global Finance magazine. The article discusses how AI is making waves in CFO offices, and explores where its promise of efficiency will have the greatest impact.

Jacobs notes, “AI, in and of itself, is not particularly new. As a tool for the banking industry, analytics that provide insight on positive and negative trends have been around for some time. In the past, analytics and AI have been used for applications such as anti-money-laundering.” Jacobs explains, “Now, however, banks are using them to help companies optimise their decisions with predictive capabilities.”

To read the full article, please click here.

iGTB’s Andrew England on how banks can ensure success with their digital transformations in Global Banking and Finance Review

Andrew England, Head of Strategy at iGTB, has written for Global Banking and Finance Review, where he identifies some critical patterns and behaviours shaping the today’s transaction banking industry. Focusing on three key topics – digital deployment, standardisation and business development – England explains that aspiring leaders of transaction banks today must look beyond in-house initiatives to ensure the success of complex digital transformations in today’s fast-changing world.

To read the full article, please go here.

News of iGTB’s deal with Federal Bank covered by specialist and tier one press

Federal Bank, one of India’s most progressive and innovative banks, has selected iGTB to implement its Digital Transaction Banking (DTB) platform – powered by an integrated front-end omni-channel Corporate Banking eXchange (CBX) portal with backend processors for Collections & Receivables, Payables, Account Services and Supply Chain Finance. DTB will also augment the front end of their existing Trade Finance portal.

Through the implementation of DTB, Federal bank is looking to significantly grow its transaction banking business and take leadership in driving the Indian Government’s “Digital India” vision.

DTB will help deliver a cutting-edge experience to the bank’s clients – providing highly relevant products that are accessed through a single, intuitive omni-channel front-end portal. For the bank, centralised functions with optimized infrastructure will lead to reduced costs and increased automation, STP and efficiency. It will also improve customer convenience, hasten the time to market innovative products, and accelerate client onboarding.

K Srinivasan, President & Head, Growth Markets, iGTB says: “We are delighted to be the chosen partner for Federal Bank, who is at the forefront of technology-driven banking transformation in India. This deal is a real vindication of our expertise, track-record and strength in the market. The DTB solution is our flagship product for digital transformation, specifically designed to help a transaction banking franchise grow, and we’re confident that it will take Federal Bank to new heights in the future, strategically positioning them for lasting success.”

To read coverage of this news in various specialist and tier one outlets, please go here: India Info Online, FSTechTXF, Finance Digest, GB&FRFinalaya, Fintech Finance, Finextra, IBS Journal, Banking Technology, ReutersBusiness StandardMoney Control.

iGTB’s Anand Pande quoted in Euromoney article on challenges in the correspondent banking market

Anand Pande, Head of Supply Chain Finance and Trade at iGTB and founder of The Growth Paradigm Partnership, has been cited in Euromoney in an article on how an operational overhaul is needed for the correspondent banking industry to recover.

The article discusses how regulations intended to make the correspondent banking network safer have stifled the ability to operate, according to bankers. Yet the need for the service remains, and is prompting new ways of thinking.

Pande explains in the article how there has been a wariness of doing business with correspondent banks: “There has to be a push and a willingness to unpeel the complex world of correspondent banking as well as doing business with small companies,” says Pande. “This means developing the ability and wherewithal to have a risk appetite to support the real economy, down to the small and mid-tier banks and companies. The policy of risk aversion needs to change. This is critical to support and grow the real-economy flows of both cross-border and domestic trade.”

To read the full article, please go here.

iGTB launches contextual banking revolution with CBX 18 – covered by specialist press

iGTB has launched the era of “contextual” banking with the release of new corporate banking platform CBX 18. Standing for “Contextual Banking eXperience”, the platform not only provides seamless digital execution across the full range of transaction banking actions, but – uniquely – also offers instant and intelligent recommendations as to the best actions available to banking clients.

“Finally, a transaction banking solution that gets it!” says Manish Maakan, CEO of iGTB. “For years, banks have drawn their clients into the esoteric world of BACS, CHAPS, wires and GIROs. But all a client wants is to move money – asking them how they want it done is like an airline asking its passengers what fuel they want.”

CBX 18 moves transaction banking into the territory of customer-service champions such as Amazon and Netflix – using information on the client and its context to understand and anticipate their needs. An intelligent algorithm then calculates the optimal action based on their specific situation and preferences. iGTB calls this approach “contextual banking”.

The news was covered in a number of specialist and tier one press outlets such as: : Finextra, The Paypers, India Info OnlineBusiness Standard, Finalaya, TXF, Fintech Finance, Finance DigestIndia Bulls Ventures and GB&FR.