Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, today announced that Bank of Ceylon (BOC), a leading foreign bank from Sri Lanka has chosen Intellect’s One Treasury Solution to drive end-to-end treasury management for their India operations. This is the first foreign bank in India to choose Intellect’s One Treasury solution, to deliver front-mid-back office functionality for its India operations. The fast-track deployment, of five months, is expected to go-live in the last week of June, 2015.
Financial Institutions are looking for enterprise treasury and risk management solutions that can streamline their global trading operations and help make insightful decisions. Treasurers are in desperate need of central enterprise-level global solutions that go beyond mere operations execution. They require intelligent solutions that will assist them in making insightful decisions and utilize advantages of arbitrage opportunities, monitor global exposure and leverage risk information for Performance Management.
Intellect One Treasury, the Integrated Risk & Treasury Management Solution, will help the banks to transition from managing risk to leveraging risk for business advantage thereby giving the bank the upper edge to compete globally. Intellect One Treasury enables diversification of funding, regulatory compliance, integration of disparate systems, agility essential for new products development and extreme risk visualisation.
K Srinivasan, EVP & Geography Head, Indian Subcontinent, Middle East, and Africa (IMEA), Intellect Design Arena Ltd. said, “Bank of Ceylon is the largest bank in Sri Lanka and their choice of Intellect Treasury for their India operations is yet another testimony of our Treasury solution’s superior functionality and our leadership in the Treasury space in the country. I’m confident that Intellect Treasury will help the bank streamline their business, operations and processes.”
Nihal Surawimala, Country Manager, Bank of Ceylon, Chennai said, “Bank of Ceylon has always looked for a state-of-the-art Treasury solution that has robust features and having out-of-the-box report framework to address the statutory requirements. We are delighted to partner with Intellect for our treasury operations in India, due to their capability to provide not just India-ready solution, with an extensive experience of over 20 Banks in India but also with adequate globally acceptable Treasury functionalities. With this implementation, we look forward to an easy banking interface, statutory reports which are critical to equipping us with the competitive advantage.”
The complexity of modern Treasury Management Systems is increasing as Treasuries are becoming controlled, regulated and monitored. Intellect Treasury functionality will help them give the leading edge to take their treasury operations to the next level of excellence and providing competitive advantage in an evolving environment.
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. For further information on the organization and its solutions, please visit http://www.intellectdesign.com/
About Bank of Ceylon
The Bank of Ceylon (BOC) is now Sri Lanka’s largest bank and celebrated their 75th year in a long and distinguished history marked by many milestones of national and international significance. For many years BOC has been ranked among the top 1,000 banks in the world and as Sri Lanka’s number one brand, while their list of awards and achievements simply gets longer with every passing year.
The bank pioneered the introduction of information technology to the commercial banking sector of Sri Lanka and also holds the leadership position in its assets, deposits, and foreign currency remittances. It has 573 branches including overseas presence in London, Chennai, Male & Seychelles and 536 ATM’s across the country.
In attracting and maintaining public confidence in the institution Bank of Ceylon reinforce their claim to be the best, in financial strength, technology, customer service, good governance and business excellence.