Transaction banking specialist from Intellect Design Arena Limited, Intellect Global Transaction Banking (iGTB), has announced its fully cloud-native Virtual Accounts platform, available as a SaaS offering.
iGTB’s Virtual Accounts Management 2022 reportedly goes beyond the traditional use of virtual accounts for reconciliation. The solution now allows a bank to offer POBO and COBO services and manage inter-company positions, thereby allowing its corporate clients to create and operate fully-fledged in-house banks.
Combined with immediate payments, reconciliation can be real time and straight-through, freeing up working capital for corporates. This is offered via self-service and API-based integration with corporate ERPs. The offering is available as SaaS in partnership with AWS and Azure, with ready cartridges for integration with a variety of core-banking systems implying quick time-to-market and reduction in the overall TCO.
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