Powered by iGTB’s Contextual Banking Experience, CBX, Fifth Third Bank continues to enhance the customer experience for their corporate clients.
London, November 17, 2021: Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked No.1 in the world for Transaction Banking by IBS Intelligence, today announced that Fifth Third Bank, National Association, has launched CBX, the first true contextual banking platform. This platform strengthens Fifth Third Bank’s position as a digital leader and positions the needs of corporate customers at the forefront.
The platform allows Fifth Third Bank to harness CBX’s capabilities, providing a simplified and consolidated view of assets and liabilities across a portfolio of domestic and international accounts, whether locally held or cross-bank, and allows for cash and liquidity management, based on scenario-based concentration of funds. Customers can optimize their working capital, in real-time, on a cloud-native, self-service platform.
“This collaboration shows what’s possible when two organizations work together to drive innovation and growth,” said Bridgit Chayt, Senior Vice President, Head of commercial payments and treasury management, Fifth Third Bank. “We’re committed to keeping our customers at the center of everything we do and providing them with the visibility and insights necessary for them to succeed.”
Commenting on the go-live, Manish Maakan, Chief Executive Officer, iGTB said, “the global success of CBX persists and supports our continued growth in the United States with Fifth Third Bank. iGTB now has 11 clients in the US out of Intellect’s portfolio of 25 in North America. Consumerization of Commercial Banking has truly been embraced by Fifth Third with their investment in CBX, raising the stakes to align with their own digital value proposition and to continually provide the best customer experience possible.”
Mr Maakan added, “This go-live is a testament to Fifth Third Bank’s experience and the innovation that their customers can count on. Being leaders in the field of contextual banking, and engaged in worldwide digital transformations, we look at this go-live as the outcome of the strong collaboration with Fifth Third Bank. We continue to push the envelope in delivering cutting edge commercial banking technology and look forward to rolling out additional features to ensure that Fifth Third Bank’s promise of providing superior customer experiences is fulfilled.”
“From a technical perspective, ease of use and a best-in-class experience is a hallmark of all of our solutions. The CBX platform enhances this with its increased visibility across accounts and automation. At Fifth Third, we ensure our customers have every tool possible in this changing economy to meet their goals,” said Laura Listwan, Senior Vice President and Head of commercial payments products.
The World’s Best Corporate Banks Bank on iGTB
iGTB is the world’s first complete Global Transaction Banking Platform from the house of Intellect help Corporate Banks prepare for a new era of customer-centric Services. With a rich suite of transaction banking products, across DTB, Payments, Liquidity, Trade and Supply Chain Supply, iGTB is an authority on vertical and integrated products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessly integrate all transaction needs of corporate customers, delighting them with Contextual Banking eXperience (CBX), a white label digital transaction banking platform to manage firms’ cash and trade that leverages Machine Learning and predictive analytics, delivered through APIs and an omnichannel UX. For more information on iGTB, please visit https://www.igtb.com/
About Intellect Design Arena Limited
Intellect Design Arena Ltd, a cloud-native, future-ready multi-product fintech platform for the world’s leading financial & insurance clients caters to the full spectrum of banking and insurance technology products company, across Global Consumer Banking, Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets, and Insurance. 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 to create cutting-edge products and solutions for banking and insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect serves over 240 customers through offices in 91 countries and with a diverse workforce of 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 www.intellectdesign.com.
About Fifth Third
Fifth Third Bancorp is a diversified financial services company headquartered in Cincinnati, Ohio, and the indirect parent company of Fifth Third Bank, National Association, a federally chartered institution. As of Sept. 30, 2021, the Company had $208 billion in assets and operates 1,100 full-service Banking Centers, and 2,336 Fifth Third branded ATMs in Ohio, Kentucky, Indiana, Michigan, Illinois, Florida, Tennessee, West Virginia, Georgia, North Carolina and South Carolina. In total, Fifth Third provides its customers with access to approximately 52,000 fee-free ATMs across the United States. Fifth Third operates four main businesses: Commercial Banking, Branch Banking, Consumer Lending, and Wealth & Asset Management. Fifth Third is among the largest money managers in the Midwest and, as of Sept. 30, 2021, had $541 billion in assets under care, of which it managed $61 billion for individuals, corporations and not-for-profit organizations through its Trust and Registered Investment Advisory businesses. Investor information and press releases can be viewed at www.53.com. Fifth Third’s common stock is traded on the NASDAQ® Global Select Market under the symbol “FITB.”
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