iGTB's digital transaction banking platform and PPI's payments product suite and EBICS expertise join hands to set leading standard in Europe
LONDON, Oct. 24, 2018 /PRNewswire/ -- Intellect Global Transaction Banking (iGTB), the transaction banking division of Intellect Design Arena Ltd, the leading B2B fintech with 21% CAGR over three years, and PPI AG, the leading software product company in Europe announced their partnership in providing advanced end-to-end integrated solutions for transaction banking localised for the needs of German and French banks.
With the average IT spent in Europe expected to increase by 6% to 9%, it is expected that growing expectations around the user experience, alongside delivering operational efficiencies will see businesses in all verticals from Europe expecting sophisticated localised payments technology from their financial service providers. This partnership will provide a local center of excellence for distribution, implementation and maintenance.
The digital transformation expertise of iGTB, with its rich digital front-end product Contextual Banking Experience (CBX) and the full suite of transaction banking products (covering PCM, liquidity, collections, trade and supply chain) and the EBICS-enabled payments product suite TRAVIC from PPI are coming together to form an exciting, integrated market-ready payments platform, which is also extensible to all transaction banking products. iGTB's global experience and leading transaction banking frontend product suite will complement PPI's strong presence in Europe, in particular in Germany, Switzerland and France, and PPI's leading European end-to-end EBICS/payments product expertise, equipping banks with superb solutions & services for their SME and corporate clients.
Commenting on the collaboration, Manish Maakan, CEO, iGTB said, "The SEPA zone is seeing a marked change in attitude. Once modernising and upgrading payments processing infrastructure was seen as a regulatory-mandated compliance project but now it is widely viewed as the foundation of a wave of new customer-facing enhancements. The focus has been shifting from not just concentration on STP rates but also providing sophisticated, well designed solutions with a great end-to-end user experience. Teaming up with PPI is a big step forward and underlines the commitment to our European market and recent expansion, complementing our desire to equip German- and French-speaking banks with the ability to serve their end customers more effectively - and at lower cost, especially with native local language implementation and support. This partnership also ensures iGTB's solutions can embrace the EBICS payments formats commonly used in key European countries."
Dr. Ing. Thorsten Volkel, Executive Board Member, PPI AG said, "The vision behind PPI's payment division is to deliver complete end-to-end payment processing capabilities for the banking industry in Europe. PPI is capable of delivering the complete process chain from access channel to payment engine towards interbank communication systems. However, we need to be equipped to face the attitude change in the market in terms of the need for digitalisation of the complete solution with ultimate focus on the front end user experience both with bank users and their client users. The partnership with iGTB will address this need by being able to offer a joint solution using iGTB's Digital Transaction Banking suite of digital products together with PPI's TRAVIC products for payments processing. This will enable PPI to have a compelling digital payments innovation offering for the local banks in Europe that will provide an end-to-end payments suite equipped with both digitalised front-end and next-gen payments product processor. We certainly aim at targeting these European markets with our offering. Both companies share a similar philosophy: delivering the best possible solution for their customers."
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 PPI AG
PPI AG has been working successfully as a consulting and software company for banks and financial service providers for over 30 years. Our customers in the project business appreciate our uncomplicated and flexible approach. We combine expert knowledge with technological proficiency to bring projects to a successful conclusion. We work in payments throughout Europe and with our standard product portfolio occupy a leading market position. As steadily growing family-owned stock company, PPI AG and our over 600 employees – more than 250 being active in our payments division - are entirely focussed on our customers' success.
SOURCE Intellect Design Arena Ltd