CWB partners with Intellect Global Transaction Banking to enhance payments service technology for business owners

Canadian Western Bank (CWB) is proud to announce a new partnership with Intellect Global Transaction Banking (iGTB) that advances how clients experience CWB's payments and cash management services. iGTB, ranked #1 in the world for transaction banking by IBS Intelligence, will provide CWB with its cloud-based Payments Service Hub (PSH), powered by Microsoft Azure, that will enable more efficient payment capabilities and opportunities to rapidly meet the evolving needs of Canadian business owners. The solution is architected on a cloudenabled technology for the high availability and scalability needed for a payments platform. It uses sophisticated In-memory caching, application server and database clustering and load balancing to cater to the millisecond response times needed for instant payments. The move advances CWB's digital transformation and commitment to deliver premium client experiences while strengthening iGTB's position as an international market leader among cloud-based payment service providers.

"Partnering with iGTB means we can provide our clients with a single point of client interaction and information for payments and new payment offerings," says Mr. Jeff Wright, Senior Vice-President, Equipment, Digital & Client Solutions at Canadian Western Bank. "Business owners need a financial partner that can innovate at the pace of their growth, and iGTB elevates our ability to stay on top of what they need while enabling us to deploy market-competitive payment offerings, reduce manual activities and lower payment costs. With a modernized and fulsome view of our clients' payment activities, we can continue to deepen the high-touch relationships our clients expect from CWB."

Commenting, Mr. Manish Maakan, CEO, iGTB said, "This strategic six-year managed services partnership solidifies our third cloud deal in Canada. iGTB's new easy-touse PSH on the cloud as a managed service lays the foundation of our offering to Canadian banks and credit unions, as well as to financial institutions around the world."

Mr. Maakan added "I am proud to be associated with CWB on this payments transformation as they have set the benchmark around customer centricity, allowing them to differentiate, modernize and control their payments offering, positioning themselves for growth in Canadian financial services. This also reinforces the strength of our relationship with Microsoft, a trusted provider with Azure for mission-critical systems such as payments. We will be making further exciting announcements on our offerings on the cloud as a managed service in the coming quarters."

"Companies like Intellect Global Transaction Banking and Canadian Western Bank demonstrate the digital innovation that is possible in the financial sector," said Suzanne Gagliese, One Commercial Partner lead, Microsoft Canada. "Delivering payments on the cloud enhances the customer experience while harnessing the flexibility, power and security of Microsoft Azure."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.761 as compared to the previous close of Rs. 766.95. The total number of shares traded during the day was 13834 in over 777 trades.

The stock hit an intraday high of Rs. 788.5 and intraday low of 760.25. The net turnover during the day was Rs. 10654985.

Source : Equity Bulls

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