Industry

IBM and Intellect Design Arena aim to transform large banks with cloud

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A new set of solutions from IBM and Intellect Design Arena will bring APIs, machine learning, predictive analytics and more cloud capabilities to automate and customize corporate banking.

IBM will work with Intellect Global Transaction Banking (iGTB), a subdivision of Intellect Design Arena, to “jointly develop applications, cloud services and infrastructure for financial institutions (FIs), while iGTB’s CBX S-18 corporate banking platform will be available through IBM Cloud to reach bank customers,” PYMNTS.com reports.

The cloud solutions is meant to enhance banks’ services geared toward corporate treasurers while reducing costs by providing suggestions for “best-next” actions.

“For banks undergoing digital transformation, the risk of slow and disruptive implementation is a pressing concern,” said Manish Maakan, CEO of iGTB. “Working with IBM, we’re ensuring that not only can we offer the most sophisticated transaction banking solutions, but we can serve clients through the IBM Cloud — implementing quickly, seamlessly and with minimal risk.”

To start, the two companies will focus on US-based banks.

For more about the banking-focused collaboration between Intellect Design Arena and IBM, read the full report on PYMNTS.com.

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