In a bid to digitise its wholesale banking business, Hong Leong Bank Bhd (HLBB) has purchased Intellect iGTB suite offered by India â€“based banking tech firm Intellect Design Arena.
The move excludes its treasury segment and is aimed at acquiring new customers while retaining existing ones.
In local media reports, Hong Leong Islamic Bank Bhd (HLIB) managing director and chief executive officer Raja Teh Maimunah said: â€śThe digital platform is the way forward and weâ€™re looking to provide more services to our customers to heighten consistency of transactions. We have a house target for that.â€ť
Across global consumer banking (iGCB), Central Banking, Risk & Treasury Management (iRTM), Global Transaction Banking (iGTB) and Insurance (Intellect SEEC), Intellect provides full spectrum, fully integrated products that run in over 200 financial institutions, across 30 countries.
HLBBâ€™s purchase of the Intellect iGTB suite consists of the digital omni-channel delivery platform and related applications in digital Cash Management, Liquidity Management, Domestic and Foreign Payments, Trade Finance and Supply Chain Financing.