CHENNAI: Indian Bank has collaborated with fintech company Intellect Design Arena Ltd for deploying cash management system solutions.

The deal, said to be valued at around Rs 100 crore, is part of the public sector bank’s corporate banking modernisation plans and will strengthen its transaction banking capabilities with Intellect’s cash management system.

As part of the project ‘INDLEAP’, Indian Bank has taken on the objective of digital transformation by leveraging technology wherever possible with transaction banking and supply chain management being the key growth engines, a statement here on Monday said.

The company will provide various services, including extensive coverage of payments, across electronic and physical channels, comprehensive bill collections platform to help channel agnostic bill orchestration, collections & settlement for anchor billers.

Ramanan S V, CEO, India and South Asia, Intellect Design Arena, said, “We are poised to cater to all cash management requirements for all segments and sectors of customers to optimise their cash flow and facilitate effective management of corporate business operations.”

Source: The Times of India