Regulatory compliance ready solution drives business growth through automation
Dubai, United Arab Emirates - Monday, July 11th 2016 [ME NewsWire]
Intellect Design Arena Limited, a specialist in applying true Digital Technologies across Banking, Financial Services & Insurance, announced that Bank Maybank Indonesia one of the largest banks in Indonesia has gone live with Intellect’s Integrated Treasury Management System(ITMS)-OneTreasury for their Indian operations. The centralized treasury management solution from Intellect’s Risk, Treasury and Markets (iRTM) division has enhanced operational efficiency across asset classes and enabled overseas branch to eliminate dependence on intensive manual operations. The entire process of solution deployment, User Acceptance Testing (UAT) and data migration was completed in a span of 7 months
The product implemented will play a key role in the bank’s treasury operations in India. This robust and functionally rich ITMS solution is compliant with the RBI regulations and integrates seamlessly with the Bank’s Core Banking System. The solution suite implemented will enable its Indian customers to trade across Fixed Income, Money Market and Foreign Exchange securities electronically and mitigate the risk associated with these trading activities. The flexible data upload facility aids decision makers to make insightful decisions on time by reducing manual intervention and minimizing errors. Bank’s need for a treasury solution which could be implemented in quick time frame for mobilizing operations was possible by Intellect’s Rapid Implementation Methodology which allows the bank to transfer and deliver a working system in a span of couple of months inclusive of go-live.
Commenting on the successful go-live, Pravin Batra, CEO, India, Bank Maybank Indonesia said, "We are happy to have chosen the stable and functionally rich solution from Intellect to manage our treasury operations in India. This implementation has been smooth and has enabled us to meet India-specific regulatory needs in line with our business objectives. We are extremely delighted to see the outstanding team effort put forward by team Intellect during implementation. At Maybank we believe in providing superior customer experience, with a stable treasury system from Intellect we are confident of providing an unprecedented service and banking experience. We look forward to further strengthening the relationship between Maybank group and Intellect Design Arena going forward."
1. Centralized treasury operations and complete automation results in operational efficiency and increased productivity
2. Ensures compliance to regulatory guidelines stipulated by the RBI
3. Facilitates better/quicker decision making by reducing manual intervention and eliminating errors
4. Supports across asset classes and mitigates risk
Venkatesh Srinivasan, Chief Executive Officer, Risk, Treasury & Capital Markets, Intellect Design Arena Limited said, "Bank Maybank Indonesia's choice of Integrated Treasury Management System, Intellect OneTREASURY, to power their foreign branch operations is yet another testimony to the superior functionality of our solution and our leadership in the country's treasury management space. The cost effective OneTREASURY solution meets the Indian regulatory requirements which will enable the bank to achieve its business objectives and improve its competitiveness in the international marketplace."
The advanced scalable OneTREASURY solution enhances productivity and enables centralized decision making for the bank. Customers of the Indian branch will now have access to a user-friendly treasury system which centralizes operations and provides operational efficiency through complete automation and seamless integration of treasury functions.
About Bank Maybank Indonesia
Maybank Indonesia is one of the largest banks in Indonesia with 457 branches including Sharia branches, micro functional offices, and overseas branches, 1,610 ATMs including CDMs (Cash Deposit Machines) across Indonesia, and also connected with more than 20,000 ATMs under ATM PRIMA, ATM BERSAMA, ALTO, CIRRUS, and Malaysia’s MEPS network, and to more than 2,800 Maybank ATMs in Malaysia and Singapore. Maybank Indonesia has a banking presence in Mauritius and Mumbai.
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, progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting edge products & solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FT8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation addressing the growing need for digital transformation. For further information on the organization and its solutions, please visit http://www.intellectdesign.com/
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