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London (UK), September 26, 2018: Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, the fastest growing Fintech product company with the CAGR of more than 21% for past three years, has seen its Digital Transaction Banking (DTB) platform go live at PT Bank Central Asia Tbk (BCA).

The implementation of DTB enables BCA to offer a comprehensive, Digital Transaction Banking solution to its local market for the first time. And as improved connectivity, higher internet penetration and a young, growing and affluent population drive traction for digitalisation in Indonesia – digital banking penetration is set to hit 60% by 2020 – this implementation sees BCA spearhead the digital transformation of a corporate banking sector that is hastening to follow suit.

bank-central-asia-logoJayaprawirya Diah, Head of Digital Innovation Solution at BCA says: “This implementation gives us a one-stop solution to answer our corporate clients’ or customers’needs – meaning they no longer need to worry about switching between different portals, or aggregating data from several sources. iGTB’s DTB suite is flexible enough to accommodate user demands of all kinds, and we are sure our customers will be delighted by the benefits in terms of efficiency and user experience.”


manish-maakanManish Maakan, CEO of iGTB, says: “We’re delighted to support Bank Central Asia as it contributes to Indonesia’s 2020 Go Digital vision, which is expected to realise over USD 130bn e-commerce transactions by 2020. Improving cash management services for Indonesian banks and their corporate clients is only possible using technology that is secure, convenient and efficient – and DTB is all these things. This platform will play a key role in helping Indonesian SMEs and corporates contribute towards the goal of transforming the economy and set the benchmark for modernisation in the country.”

The second phase that went live recently brings an additional 40 customer journeys into operation. The platform now handles over USD 1bn transactions per month, benefitting over 275 corporate clients in just 12 months – with an unparalleled level of straight-through processing. Transaction value has grown 300% in just three quarters.

Key features of the implementation include bulk uploads, e-bookkeeping, credit facility summaries covering all products across multiple systems, and electronic invoice discounts for early payments.

This translates into dramatically improved cash-flow management for BCA’s large corporate clients and their extended supply chains, with market-specific offerings such as tax payments, virtual account payments and bulk supply chain finance processing, with multiple outlets & corporate-specific invoice and purchase order templates.

Maakan adds: “Our longstanding experience with Asian banks & financial institutions and our sophisticated suite of digital transaction banking solutions enable BCA to set the standard for its industry peers with a best-in-class cash management offering that will boost the growth and profitability of their clients. It’s fantastic to play a role in BCA’s digital leadership, and we are excited to continue playing a central role in their transformation.”

About Intellect Design Arena Limited

Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). 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 for 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 centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 169 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 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 intellectdesign.com. For information on the solutions for global transaction banking, please visit www.igtb.com.

About PT Bank Central Asia Tbk (as of 30th June 2018)

BCA is one of the leading commercial banks in Indonesia with a core focus on transaction banking business and providing loan facilities and solutions to the corporate, commercial & SME and consumer segments. At the end of June 2018, BCA had the privilege of serving 18 million customer accounts, processing millions of transactions every day through 1,241 branches, 17,565 ATMs and more than 490 thousand of EDC machines as well as transactions made over the 24-hour internet and mobile banking systems.www.bca.co.id

Intellect Design Arena
For Media related information, please contact:

Nachu Nagappan
Intellect Design Arena Ltd
Mob: +91 89396 19676
Email: nachu.nagappan@intellectdesign.com

For Media related info, Americas and Europe:
Zoe Fowke
Intellect Design Arena Ltd
Mob: +44 0207 5169461
Email: zoe.fowke@intellectdesign.com

PT BANK CENTRAL ASIA TBK
Corporate Secretariat Division
Corporate Communication Sub Division
Public Relations Bureau

Address : Jl. MH Thamrin No. 1
Menara BCA Grand Indonesia Lt. 20
Jakarta Pusat 10310
Telephone: +62 21 2358 8000
Fax : +62 21 2358 8300
E-mail : humas@bca.co.id


 
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