iGTB launches Consumerisation of Commercial Banking

By Leandra Monteiro

Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena Limited, announces the launch of Consumerisation of Commercial Banking (COCB) at Sibos 2022.

Commercial Banking is on the cusp of fundamental shifts that will dramatically reorder the industry in the coming decade. As banks assess their future strategies, they need to define their purpose and set a course not just for modernisation but for true transformation.

iGTB defines this next evolution as the Consumerisation of Commercial Banking (COCB). Consumerisation is the emergence of the individual consumer as the primary driver of product and service design and COCB is the impact of an individual consumer’s wants, needs and behaviour on commercial banking products and services.

To embrace COCB, Intellect Design recommends an integrated three-pronged strategy to commercial banks comprising a)contextual design b)an architecture that is built on composable, contextual and hyperscale technology c)and an offering set that comprises products, solutions, platforms and banking-as-a-service capability.

Commenting about the launch of Consumerisation of Commercial Banking (COCB) at Sibos 2022, ManishManish Maakan, CEO, iGTB said, “Commercial banking is on the verge of a major upheaval that will significantly alter their technology roadmaps. Modernisation alone will not suffice. Banks should plan for a future that welcomes rapid change while catering to unprecedented customer demands. We are pleased to launch “Consumerisation of Commercial Banking” at Sibos 2022 which will enable banks worldwide to not just digitally transform, but compete effectively in the new consumer-driven economy.”

He further added, “To help banks embrace this trend, iGTB has leveraged design thinking to build commercial banking offerings that comprise contextual products, platforms, solutions and banking-as-a-service capability. These are underpinned by an architecture built on composable, contextual and hyperscale technology which we term as Commercial Banking Operating System (CBOS). CBOS is built for the cloud, drives high performance and is highly efficient in commercial banking operations.