Intellect limited joins hands with Bahrain Bank for digitising banking business

City-based Intellect Design Arena Ltd, a financial technology product company, has been selected by BBK, one of Bahrain's leading banks, to implement a comprehensive digital transformation of its banking business. "BBK is known for its leadership in deploying technology-enabled services and in retaining that position understanding how imperative it is to have a digital environment that supports innovation and customisation," BBK general manager (IT and operations group) Jamal Al-Sabbagh said.

"Intellect will integrate our transaction banking offerings into a self-service digital portal with a bank- assisted service allowing our clients to consistenly view, monitor and control their consolidated financial data," he said. Commenting on the deal, iGTB's CEO Manish Maakan said, "BBK joins a growing body of nearly 30 transaction banks. This digital transformation initiative based on our model-bank repertoire of proven customer journeys will completely transform BBK's cash management and trade finance services."

"We are delighted to partner with BBK and this deal reinforces Intellect's leading position in the fintech market as a provider of cutting-edge digital transformation technology solutions," president of Intellect Design Arena (APAC, South Asia, Middle-East and Africa) K Srinivasan said. "Our platform ensures that a digital bank is both efficient and profitable to all parties involved," he said. 

(With inputs from agencies.)