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  • Local banking group to diversify transaction banking platform
  • Large export-oriented corporation and SME clients to benefit from greater availability of digital and realtime financial services from HLBB

Hong Leong Bank Berhad (HLBB) today announced the appointment of Intellect Design Arena Limited (‘Intellect’), a specialist in applying Digital Technologies across Banking and Insurance, as its partner in the bank’s effort to transform and digitise its wholesale banking offerings.

The bank’s adoption of Intellect’s multi-award winning Intellect Global Transaction Banking (‘iGTB’) suite is in line with the global Banking 3.0 trend whereby technologies such as mobility and cloud are redefining financial services and payments worldwide.

YM Raja Teh Maimunah, MD/ CEO, Hong Leong Islamic Bank says, “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. 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.”

Manish Maakan, the CEO of iGTB, Intellect Design Arena Limited states, “Digitalisation and mobility has changed the way businesses run. 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.”

HLBB’s purchase of the Intellect iGTB suite will consist of the digital omni-channel delivery platform and related applications in digital Cash Management, Liquidity Management, Domestic and Foreign Payments, Trade Finance and Supply Chain Financing. Via Intellect’s iGTB, HLBB will be equipped to facilitate mass adoption of real-time digital payments amongst its corporate clients.

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. With this, HLBB clients will truly be able to adopt modern business processes and transaction management capabilities.

About Hong Leong Bank Berhad (HLBB)

Hong Leong Bank Berhad is one of the leading financial services organisations in Malaysia. With a heritage of more than 100 years, it provides comprehensive financial services covering consumer banking, business banking and trade finance, treasury, branch and transaction banking, wealth management, private banking and Islamic financial services. Its merger with EON Bank Group in 2011 has further embedded its position as a core banking franchise with an expanded distribution network of around 300 branches across the country.

With a proven track record in value creation and a highly recognised brand, Hong Leong Bank has also been extending its footprint in the region, with branches in Singapore, Hong Kong and wholly owned subsidiaries in Vietnam and Cambodia. In China, the Bank has a 20% shareholding in Bank of Chengdu Co., Ltd., Sichuan and a consumer finance joint venture. Hong Leong Bank is a subsidiary of Hong Leong Financial Group Berhad, the financial services arm of the Hong Leong Group.

Apart from banking, Hong Leong Financial Group is involved in the provision of insurance and takaful, as well as investment banking, unit trust, fund management and stock broking services. For further information, please visit www.hlb.com.my

About Intellect Design Arena Ltd.

Intellect Design Arena Ltd, a Polaris Group company, is the world‟s first full spectrum Banking and Insurance technology products company, across global consumer banking (iGCB), Central Banking, Risk & Treasury Management (iRTM), Global Transaction Banking (iGTB) and Insurance (Intellect SEEC).

The holistic adoption of Digital covers Digital OUTSIDE and Digital INSIDE. Built on iDigital, the Intellect Digital OUTSIDE proposition is anchored around Same experiences at all touch points, through a powerful Channel Renovation Platform (Canvas), and the Digital INSIDE proposition is anchored around Lean Operations, through an Operational Consolidation Platform (Hubs).

The Intellect design philosophy, a key differentiator in developing solutions for the transformative agendas of CXOs, ensures a dramatic shift from disjointed digital activities to strategically aligned digital outcomes.

The FT 8012 Design Center, the world’s first Design Center for financial technologies, is a physical manifestation of enterprise commitment to design. It powerfully connects dots between Business, Technology and Operations, and accelerates the transformation process for customers. This is where the total Digital 360 journey can be approached, allowing for adoption in a gradual outcome based manner.

Intellect generates annual revenues of over USD 100 million, with product installations in over 200 financial institutions, across 30 countries. The company’s performance is driven by over 3,000 Intellect solution architects, domain and technology experts, with a presence in major global financial hubs around the world.

Intellect began operating in Malaysia since 2006, achieving MSC status for its operations in 2009. It currently serves a number of international and Middle East clients in Malaysia.

Intellect has been developing and implementing ground-breaking innovations through its Intellect Global Transaction Banking platform for over 25 years with 56 customers and 108 installations worldwide. iGTB has won numerous awards including 3 Asian Banker awards in Asia Pacific for its clients, 3 awards in the Middle East and Africa Asian Banker Awards as well as the “Model Bank of the Year” award by Celent in 2014 for one of its Middle East clients. For further information on the organization and its solutions, please visit http://www.intellectdesign.com/