Intellect Global Transaction Banking (iGTB), the transaction banking business unit from Intellect Design Arena Ltd is proud to announce the successful second phase go-live of its eMACH.ai DTB solution at Boubyan Bank, one of Kuwait’s leading Islamic banks and a pioneer in digital transformation.
The go-live marks the introduction of transformative solutions designed to boost financial efficiency and operational agility across a wide range of industries. Powered by Intellect’s first principle based eMACH.ai Wholesale Banking platform, these solutions leverage enterprise-grade technology to address the unique challenges of sectors such as oil and gas, telecom, fintech, real estate, manufacturing and trading services.
Key Segments include various industries:
Telecom: Enhanced cash flow management and financial visibility to streamline billing, revenue collection, and cross-border payments.
Fintech: Scalable and secure financial solutions to streamline transactions, enhance customer experience, and support rapid growth for new tech entrants through Banking as a service model.
Real Estate: Streamlined receivables reconciliation and enhanced financial oversight for managing large-scale transactions and improving project cash flow.
Trading Services: Real-time financial insights to optimise working capital and facilitate seamless cross-border transactions.
Oil and Gas: Optimised liquidity management and real-time cash flow tracking to navigate market volatility and complex supply chains.
These industry-specific solutions empower businesses to operate with greater efficiency, agility, and insight, driving enhanced performance and growth in their respective sectors.
Key offerings that enable the bank to differentiate itself in the market:
Empowering businesses with automated control over their cash positions across accounts and entities with optimised liquidity utilisation using Liquidity Management.
Streamlining cash inflows by automating receivables management, enhancing reconciliation accuracy, and improving operational efficiency with simplified account structures through virtual accounts, delivering enhanced transaction tracking, cost efficiency, and improved customer experience.
Offering an Innovative Digital Receivables Solution, EPay, that accelerates DSO via proactive recovery initiation by Sellers via Payment Link QR Code to the Buyer. It has helped the Bank bolster the Financial Supply Chain Ecosystem of their value Corporates.
Enabling seamless access to financial and operational tools through secure, enterprise-grade mobility solutions, empowering businesses to drive efficiency and agility in a dynamic corporate environment.
Enabling full digitisation of payments and treasury operations by integrating seamlessly with corporate clients’ ERPs and Treasury Management Systems via Host-to-Host (H2H) connectivity for straight-through processing of collection, payments and reconciliation records.
A Leap Towards Market Leadership
The latest advancements equip Boubyan Bank to strengthen its position as the principal bank for corporate clients in Kuwait by offering additional products and services that boost customer engagement and loyalty. This initiative reflects the bank’s commitment to aligning with the evolving needs of Corporate and SME clients while maintaining its leadership in technological innovation.
The successful implementation will enable Boubyan Bank to provide an enhanced customer experience (CX) while offering a comprehensive suite of transaction banking services. This digital transformation marks a significant milestone in modernising the bank’s offerings, helping Corporate and SME customers adapt to changing market dynamics.
Pioneering Innovation in Kuwait’s Banking Sector
As a torchbearer of technology advancement, Boubyan Bank is at the forefront of implementing first-of-its-kind innovations, including EPay for the bank. This digital transformation underscores Boubyan Bank’s dedication to providing cutting-edge solutions that elevate corporate and SME customer experiences and solidify its market leadership in Kuwait.
Commenting upon the partnership, Mr. Abdul-Salam Mohammed Al-Saleh, Chief Executive Officer - Corporate Banking, Financial Control, Treasury and Legal Affairs said, “Digitisation will enable our customers in Kuwait to enjoy the benefits of modern transaction banking and cash management services while we ensure these solutions meet our Sharia principles and beliefs as well. This go-live is another milestone showcasing our commitment to our commercial customers by providing comprehensive cash management and transaction banking capabilities to further strengthen our leadership position in the market.”
He further added, “We at Boubyan Bank have always been focused on strengthening our digital infrastructure to drive customer excellence initiatives. Harnessing digital innovation and being customer-centric are the main pillars of the bank’s five-year strategy. This partnership with iGTB will help us achieve our strategic goals and solidify our position in the Kuwaity market.
Manish MaakanManish Maakan, CEO - Intellect Wholesale Banking, commented, “We are proud to partner with Boubyan Bank, a leader in innovation and customer-centric Islamic banking in Kuwait. This implementation reflects our shared vision to deliver comprehensive transaction banking services that empower corporate and SME clients while enhancing operational efficiency and Customer Experience. With this milestone, we are pleased to be associated with three of the leading banks in Kuwait, strengthening our commitment to Kuwait and the region.”
“Furthermore, this collaboration underscores our capability to enable banks to align with Sharia principles while driving digital transformation. By leveraging DTB Cloud, we aim to equip the bank with the tools to offer seamless and scalable solutions, empowering its corporate customers to thrive in a dynamic market landscape and paving the way for regional growth.”