LONDON, October 24, 2018 /PRNewswire/ --
New partnership will build on a strong foundation of digitally-enabled global multi-participant ecosystems
Intellect Global Transaction Banking (iGTB), the transaction banking division of Intellect Design Arena Ltd, the leading B2B fintech with 21% CAGR over three years, has entered into a collaboration agreement with Bolero International, the world's premier trade digitisation experts, with goals to make trade safer, smarter and faster.
Both firms are looking at exploring developments of digitally-led commercial trade and supply chain finance business propositions. The new partnership will initially look at how coupling iGTB's strong product processors with Bolero's diversified global digital ecosystem can lead to the elimination of inefficiencies in trade transactions while at the same time boosting revenue enablement.
Manish Maakan, CEO, iGTB, said, "The focus at iGTB is to work with banks in the areas of revenue growth, improvements in returns on equity and cost/income ratios, while developing tools which help banks with effective risk and compliance governance frameworks, and this has led to a number of recent large wins in trade finance/supply chain. Our partnership with Bolero International will capitalise on their expertise in trade digitisation to help reduce operational risk in an industry that is dominated by manual and inefficient processes."
The first potential collaboration will be combining forces to validate the commercial viability of solutions creating a global secure digital marketplace for origination and distribution of trade and supply chain finance assets.
Ian Kerr, CEO, Bolero International, said, "We are very excited to be collaborating with iGTB. They share our passion for practical innovations that make supply chain trade finance safer, smarter and faster through the power of digitisation and the elimination of time-consuming manual processes. Both teams will be pooling their years of expertise to build solutions that transform the efficiency and revenue-enablement of supply chain trade finance. The benefits are potentially immense, providing banks with access to global multi-investor classes while strengthening their relationships as service providers and partners."
About Intellect Design Arena Ltd:
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world's first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). 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 for 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 centre for Financial Technology, reflects Intellect's commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 169 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 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 intellectdesign.com. For information on the solutions for global transaction banking, please visit https://www.igtb.com
About Bolero International (WWW.BOLERO.NET)
Established in 1998 by SWIFT and the global logistics and insurance industry, Bolero has built a strong reputation and market leadership position in driving the digitisation of global trade.
Bolero delivers secure, end-to-end, cloud-based services across the entire global supply chain. By digitising trade processes and transactions, providing greater visibility, transparency and control, Bolero is making trade safer, smarter and faster.
SOURCE Intellect Design Arena Ltd.