LONDON, April 20, 2018 /PRNewswire/ —
– Global Deposit Manager gives banks the agility to create a range of new business deposit products and bring them to market quickly, while offering cutting-edge measurement and analytics abilities for banks and their clients
– The product will particularly help US banks expecting large incoming deposits as a result of the latest US tax reform and rise in interest rates
Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, has launched Global Deposit Manager (GDM), a comprehensive digital platform that allows banks to fashion new, tailored, regulation-compliant, deposit products that can be brought to market quickly. GDM boasts powerful analytics, monitoring and reporting capabilities for both banks and their clients of all sizes, and is delivered through iGTB’s award-winning, omni-channel interface, Contextual Banking Experience (CBX). This product is especially relevant given that US companies were estimated to be sitting on $2.6 trillion of trapped liquidity in 2017[i], and the difficulty businesses have finding suitable safe havens for funds.
Manish Maakan, CEO of iGTB, says: “GDM builds on our existing core expertise in corporate liquidity management – an area that has posed particularly challenging issues for banks. GDM’s comprehensive package of capabilities – combining innovation-friendly agility, strong governance support and performance analytics – will help banks manage their balance sheets and support their clients better, boost their revenues, whilst ensuring strict regulatory compliance. What’s more, the impact of the latest tax reforms in the US mean there couldn’t be a better time for this release – making it a compelling proposition for US banks anticipating an influx of corporate deposits from overseas. This is critical for us as we continue our strategic push in this important market.”
GDM is an integrated application – but also supported through a range of individual components – that plugs into core banking systems, making it an agile tool for rapidly rolling out a full spectrum of innovative and tailored deposit products. The platform also handles critical product governance activities, efficiently managing the process of bringing deposit products to market.
GDM comes with a compelling range of analytics and monitoring features for both banks and their clients. Banks, for example, can view which deposit products perform best across geographies, currencies, and client segments – by volume or revenue. Clients meanwhile gain an overarching view of their global cash placements through an intuitive dashboard, delivering powerful insights such as how deposits perform historically and against benchmarks.
Maakan adds: “Banks’ clients will particularly appreciate GDM. Its flexibility enables them to manage, monitor and report their portfolios across a range of deposits, with multiple banks, and it offers unparalleled analytics. One of the world’s top 20 banks is already on board, and two more are working on the application – we believe there’s no better product to help banks and businesses in all industries harness the value of their extra cash.”
About Intellect Design Arena Ltd:
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FT8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 124 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com. For information on the solutions for global transaction banking, please visit igtb.com.
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SOURCE Intellect Design Arena Ltd