Banks poised to enhance competitive positioning by accessing the most advanced business intelligence and insights into trade flows, supply chains and market disruptors
London, October 11, 2021 Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence, today announced its strategic partnership with Coriolis Technologies, the leading source of trade, corporate and geopolitical risk as well as trade-related economic data globally for the trade finance sector. Coriolis Technologies delivers unparalleled insights into geopolitical risks, macro-economic trends and international trade conditions as well as supporting key information on sustainable trade flows globally.
Founded in 2017, Coriolis Technologies has become the leading source of data and analytics globally for the trade finance sector. Data is collected from multiple sources and predictive analytics are derived using leading edge artificial intelligence and deep learning techniques. Coriolis Technologies Atlas is a one-stop shop for SME exporters seeking access to trade finance. Documents are screened and assessed in real-time to assess business risk and compliance. Coriolis Technologies Kosmos is the go-to source of data and analytics for environmental, social and corporate governance. Coriolis Technologies Kosmos provides key information and insights into sustainable trade flows across the globe. Coriolis Technologies provides the perfect, complementary fit to iGTB’s coverage across the whole cash, trade and supply chain space in line with its commitment to digitalisation and sustainability.
In the wake of supply chain disruptions due to Covid-19, many observers have reiterated the need for stakeholders to obtain greater visibility in order to optimise supply chain efficiency. During the lockdown, some suppliers have been forced at least temporarily to cease production. Some third party logistics providers have been unable to transport goods across borders. Supply chain lenders need to better understand the information flows in supply chains, not just the financial health of one participant. They require visibility into the entire supply chain and real-time monitoring of physical transactions. Information is vital to any business activity. These days we are often swamped by too much information. We need analytical tools to help us make sense of the data and make informed decisions based on business intelligence. In the digital world, data is the new collateral. The evolving art of predictive analytics enables banks to better manage their relationships, revenues and risks.
Rebecca Harding, CEO, Coriolis Technologies, commented: “We are very excited to be collaborating with iGTB. Both companies share a passion for practical innovations that will make trade finance smarter and faster through the power of digitalisation. Our joint collaboration will not only enhance market understanding of risks, disruptions and potential impacts but ultimately act as a catalyst for digital adoption going forwards.”
Commenting on the partnership, Manish Maakan, CEO, iGTB said, “Collaboration is key to the successful digitalisation of trade and supply chain finance. The strategic partnership between iGTB, the independently acknowledged #1 player in transaction banking and Coriolis Technologies, the #1 data and analytics provide, delivers a unique value proposition that will enable our customers to drive innovation and grow their business with the benefit of having clear insights into predictive analytics and risk forecasting. Together we will drive innovation, leveraging state of the art technologies to mobilise trade data and analytics that will help bridge the trade finance funding gap and ultimately benefit the global economy as a whole”.
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. iGTB’s
software products help Corporate Banks prepare for a new era of customer-centric services. With a rich suite of transaction banking products, across Digital Transaction Banking, Payments, Liquidity, Trade and Supply Chain Supply, iGTB is an authority on integrated products that enable banks to meet their ambition to be the Principal Banker to their corporate customers. iGTB seamlessly integrates all the transaction banking needs of corporate customers, delighting them with the Contextual Banking Experience (CBX), a white label digital transaction banking platform to manage corporates’ cash and trade portfolios. For more information on iGTB, please visit https://www.igtb.com
About Intellect Design Arena Limited
Intellect Design Arena, a global leader in the application of digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, Global Consumer Banking, iGTB (Global Transaction Banking), Risk, Treasury and Markets and Insurance Software. With over 25 years’ of deep domain expertise, today Intellect is a brand name that progressive financial institutions look to for their digital needs, and for digital transformation initiatives.
Intellect pioneered Design Thinking as a key differentiator in the delivery of cutting-edge banking and insurance products and solutions to enable digital transformations. FinTech 8012, the world’s first design centre for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, such that the growing need for digital transformation may be addressed and answered. Intellect generates annual revenues of more than USD 208 million, by serving more than 200 customers through offices in 90+ countries. For further information about the company and the various solutions it offers, please visit https://www.intellectdesign.com/.
About Coriolis Technologies
Through its MultiLateral data platform, Coriolis Technologies is democratising access to sophisticated trade data and models by providing businesses and banks with a tool to identify opportunities, assess risks and access supply chain partners and finance globally. Using MultiLateral data and analysis Coriolis Technologies has developed three unique products, providing three key solutions for trade professionals:
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