London (UK) and Chennai (India), February 13, 2017: iGTB, the Global Transaction Banking division of Intellect Design Arena Ltd, has signed a deal with Al Rajhi Bank, the largest Islamic bank in the world by assets, in order to implement a comprehensive digital transformation of its corporate and retail banking services in Malaysia.
The transformation, set to begin this month, is designed to provide customers of Al Rajhi Banking & Investment Corporation (Malaysia) Berhad, ARBM, with a much simpler but richer banking experience based on a comprehensive, front-to-back solution, freed from the physical limitations of branch-based banking. The move will allow ARBM to reach new customers across Malaysia efficiently through modern online, mobile and tablet banking applications, while the bank plans to retain the personal touch with a mobile sales force and pop-up branches.
ARBM Chief Executive Officer, Steve Chen, said “This digital transformation will give our clients a new level of control over their banking activities. It not only enables them to manage their accounts regardless of location, but also gives them access to new and enhanced services. We are excited to partner with Intellect, whose comprehensive solution for both our corporate and retail businesses make it an excellent fit for this important initiative which coincides with ARBM’s 10 years of operation in Malaysia. The move should also put ARBM on the path to achieve our goal to double transaction banking business yearly for the next three years.”
Intellect’s digital solutions will include a consistent and full-scope, internet, mobile, and tablet banking capability for ARBM’s corporate and retail customers, enabling clients and their relationships managers to act, transact and interact on the go and initiate products in real time. It assures a seamless experience across channels providing ease of banking and provides save-and-resume functionality that smoothly facilitates transaction from branch to mobile; and from device to device. The Bank’s corporate clients will also have access to fully digitised customer on boarding and cash management services, as well as advanced liquidity services such as sweeping, pooling, intercompany lending and overnight investment sweeping.
Manish Maakan, CEO of Intellect’s Global Transaction Banking division (iGTB), adds, “Al Rajhi Bank’s digital transformation in Malaysia is an excellent example of our ability to zero in on the needs of both our clients and our clients’ clients. With the help of Intellect’s agile delivery and rapid deployment, our comprehensive set of digital solutions will give Al Rajhi the opportunity to rationalise its operations and expand its geographical reach, while at the same time putting highly sophisticated tools at the fingertips of its clients.”