iGTB’s strategic partnership with VPBank will provide a fully-integrated, Cash & Payments Management platform to enhance corporate and SME customer’s experience and operational efficiency.
London, April 11, 2022: 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 for two years in a row, today announced that Hanoi-headquartered VPBank has signed a major transformative deal to digitize and streamline its transaction banking offerings. For Intellect, this deal marks the tenth key digital banking transformation deal in Vietnam.
This digital transformation deal will boost VPBank’s digitization efforts of its transaction banking function which in turn will enhance the country’s digital economy which is aligned with the “Vietnam National Digital Transformation Roadmap 2025”. This will bring the bank closer to the goal of being the most customer-friendly bank through technology in 2022 with disruptive iGTB’s products and services for its corporate, commercial and SME clients.
According to VPBank CEO, Mr Nguyen Duc Vinh, “VPBank has always been a pioneer in selecting the most up-to-date technology to power accelerated digital transformation. Strengthening our IT Infrastructure to enable and automate digital strategy is our key to improving productivity by 20-30% in order that we stay ahead of the competition. This is why harnessing disruptive digital IT initiatives is currently a major priority for us.”
“Partnering with iGTB, VPBank will continue to improve customer experience and expand the business ecosystem through a new and efficient digital technology, which will transform our cash management. Armed with this iGTB and VPBank solution, we are set to increase significantly the competitive edge for the bank and retain our leadership position as the preferred bank of choice for both SME and for corporate customers.”
According to iGTB CEO, Mr Manish Maakan, “I am proud that this latest VPBank deal transformation deepens Intellect’s portfolio to a dominant position in Vietnam. Our investments into iGTB Cash Cloud and iColumbus.ai platforms are the keys to a faster go-to-market, so that our client portfolios across APAC, Middle East, Europe and Americas can realize early returns on their technology investments. Our simultaneous market-depth strategy is a result of years of investment into local Vietnamese regulations & payment systems, backed by iGTB’s local relationship managers & delivery teams out of Hanoi, and our longstanding partnership with Vietnamese FPT Information Services.”
Mr Maakan added, “Vietnam’s corporates and SMEs are demanding digital financial solutions, and the Vietnam banking industry is rising to the challenge powered by iGTB’s latest digital banking platforms. This partnership powered by iGTB’s global expertise in transaction banking technology will help VPBank achieve its goal of becoming the most customer-friendly technology-driven bank and the most valuable bank in Vietnam.”
This transformative cash management platform delivers a seamless customer experience with a completely digital integrated transaction banking suite of iGTB’s Cash Management, Trade Finance, Payments, Account Services, Collections and Liquidity Management powered by the award-winning front-end Contextual Banking Experience (CBX) platform with the ability to deploy new customers quickly, handle large volumes of transactions, improve operational efficiency and help reduce complexity and cost.
About iGTB Cash Cloud Platform
The World’s Best Corporate Banks Bank on iGTB
iGTB Cash Cloud is the world’s first fully-integrated & cloud-ready, Integrated Cash and Trade digital transaction banking platform is a high-performance, patent pending solution that is designed to deliver growth, create a foundation for business & service expansion, create simplicity in corporate onboarding powered by expertise backed user journeys, with replicable & robust operational processing and deployment certainty. More than 55 other global banking groups are benefitting from this world-leading solution which handles 50% of the total corporate collections’ transactions across India, Middle East & Africa. For more information, please visit https://www.igtbcloud.com
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 Cash Management, Payments, Liquidity, Trade Finance and Supply Chain Finance, iGTB is an authority on integrated transaction banking 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 digital channels. 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.
Established in 1993, VPBank is currently one of the biggest private banks in Vietnam. The bank operates in a wide range of businesses including retail banking, corporate banking, wealth management and consumer finance. As of the end of 2021, the total asset of VPBank amounted to nearly VND 548 trillion, increasing by 30.7% year on year. Consolidated loan balance reached VND 384 trillion, increasing by 18.9%, customer deposits and valuable papers rose by 9.1% year on year to VND 323 trillion, total operating income (TOI) reached VND 44,301 trillion, with an increase of 13.5% year on year.
The objective of VPBank is to become a top-ranking retail bank among joint stock commercial banks in Vietnam in terms of business scale, market share and service quality. On that basis, VPBank shall make the highest profits for its shareholders, create stable jobs and career development opportunities for employees, and make considerable contributions to the State Budget and to the general development of the economy and society as well.
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