Intellect Global Transaction Banking and Coriolis Technologies announce partnership

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Limited, ranked #1 in the world for Transaction Banking by IBS Intelligence, today announced its strategic partnership with Coriolis Technologies, the leading source of trade, corporate and geopolitical risk as well as trade-related economic data globally for the trade finance sector. Coriolis Technologies delivers unparalleled insights into geopolitical risks, macro-economic trends and international trade conditions as well as supporting key information on sustainable trade flows globally.

Founded in 2017, Coriolis Technologies has become the leading source of data and analytics globally for the trade finance sector. Data is collected from multiple sources and predictive analytics are derived using leading edge artificial intelligence and deep learning techniques. Coriolis Technologies Atlas is a one-stop shop for SME exporters seeking access to trade finance. Documents are screened and assessed in real-time to assess business risk and compliance. Coriolis Technologies Kosmos is the go-to source of data and analytics for environmental, social and corporate governance. Coriolis Technologies Kosmos provides key information and insights into sustainable trade flows across the globe. Coriolis Technologies provides the perfect, complementary fit to iGTB''s coverage across the whole cash, trade and supply chain space in line with its commitment to digitalisation and sustainability.

In the wake of supply chain disruptions due to Covid-19, many observers have reiterated the need for stakeholders to obtain greater visibility in order to optimise supply chain efficiency. During the lockdown, some suppliers have been forced at least temporarily to cease production. Some third party logistics providers have been unable to transport goods across borders. Supply chain lenders need to better understand the information flows in supply chains, not just the financial health of one participant. They require visibility into the entire supply chain and real-time monitoring of physical transactions. Information is vital to any business activity. These days we are often swamped by too much information. We need analytical tools to help us make sense of the data and make informed decisions based on business intelligence. In the digital world, data is the new collateral. The evolving art of predictive analytics enables banks to better manage their relationships, revenues and risks.

Rebecca Harding, CEO, Coriolis Technologies, commented: "We are very excited to be collaborating with iGTB. Both companies share a passion for practical innovations that will make trade finance smarter and faster through the power of digitalisation. Our joint collaboration will not only enhance market understanding of risks, disruptions and potential impacts but ultimately act as a catalyst for digital adoption going forwards."

Commenting on the partnership, Manish Maakan, CEO, iGTB said, "Collaboration is key to the successful digitalisation of trade and supply chain finance. The strategic partnership between iGTB, the independently acknowledged #1 player in transaction banking and Coriolis Technologies, the #1 data and analytics provide, delivers a unique value proposition that will enable our customers to drive innovation and grow their business with the benefit of having clear insights into predictive analytics and risk forecasting. Together we will drive innovation, leveraging state of the art technologies to mobilise trade data and analytics that will help bridge the trade finance funding gap and ultimately benefit the global economy as a whole".

Shares of Intellect Design Arena Limited was last trading in BSE at Rs. 689.65 as compared to the previous close of Rs. 681.10. The total number of shares traded during the day was 24263 in over 1744 trades.

The stock hit an intraday high of Rs. 701.95 and intraday low of 683.55. The net turnover during the day was Rs. 16744651.00.

Shares of Intellect Design Arena Limited was last trading in NSE at Rs. 689.70 as compared to the previous close of Rs. 681.15. The total number of shares traded during the day was 243798 in over 15261 trades.

The stock hit an intraday high of Rs. 702.00 and intraday low of 683.25. The total traded value during the day was Rs. 168300438.80.

Source : Equity Bulls

Keywords

IntellectDesignArena INE306R01017 ITSoftwareProducts iGTB Partnership CoriolisTechnologies