HLBB to use Intellect to ramp up wholesale banking services
By Digital News Asia August 20, 2015
- Promises greater availability of digital and realtime financial services
- Large export-oriented corporations and SME clients to benefit
MALAYSIA’S Hong Leong Bank Bhd (HLBB) said it has appointed banking and insurance technology provider Intellect Design Arena Ltd as its partner in the bank’s effort to transform and digitise its wholesale banking offerings.
Its adoption of Intellect’s Intellect Global Transaction Banking (iGTB) suite is in line with the global banking trend where technologies such as mobility and cloud are redefining financial services and payments worldwide, HLBB said in a statement.
“Following the digitisation of our personal financial services, HLBB is now turning its attention to the corporate banking space, with a focus on the development of real-time payment offerings in order to better support its Malaysian corporate clients both domestically and globally,” said Hong Leong Islamic Bank managing director and chief executive officer Teh Maimunah.
“More of our wholesale banking clients have gone global and expect more competitive banking services to facilitate their cross-border businesses.
“As customers nowadays seek other alternatives apart from the physical branch, this offering provides the ability to access information, select products, and make transactions from anywhere and at any time,” she added.
HLBB’s deployment of the Intellect iGTB suite will comprise a digital omnichannel delivery platform and related applications in digital cash management, liquidity management, domestic and foreign payments, trade finance and supply chain financing.
Additionally, the bank can implement straight-through-processing between the bank and local/ international payment gateways, as well as host-to-host integration with its clients’ accounting and back-end systems, HLBB said in its statement.
“Digitalisation and mobility has changed the way businesses run,” said Intellect’s iGTB chief executive officer Manish Maakan.
“Local banks are seeing more non-banking players crowding into their space as their customers want more flexibility, multiple-channel payment options, and the ability to do this all in a secure and fast manner.
“We are honoured to be chosen by HLBB to help transform its digital transaction banking services platform,” he added.
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