Union Bank of India partners with Intellect to bolster transaction banking

By Leandra Monteiro

Intellect Design Arena Ltd, a cloud-native, future-ready multiproduct FinTech company announced that Union Bank of India (UBI) has chosen Cash Management System built on eMACH.ai to automate and elevate their enterprise-wide cash flows.

The strategic partnership with Intellect will provide UBI with a fully-integrated Cash & Payments Management platform, which is expected to enhance the experience and operational efficiency of their corporate and SME customers.

Through this implementation, Intellect is focused on streamlining the cash management and end-to-end mandate management business, to provide a seamless solution that enables the bank to identify and address complex regulatory and compliance concerns comprehensively. Intellect’s innovative products for corporate, commercial, and SME clients, will help the bank to enhance its customer friendliness through technology and achieve its goal of becoming the most customer-centric bank.

With the help of Intellect’s Cash Management System, UBI will enhance its agility aiding user experience. The platform enables the bank to update and expand its cash management offering by providing a total crack sales solution, design of the overall approach, positioning, and providing the bank with the necessary digital support. The solutions will help the bank become more competitive, streamline internal processes and, in turn, generate additional revenue streams.

Ramanan S V, Chief Executive Officer, India and South Asia, Intellect Design Arena Limited said, “We are proud to partner with such a prestigious Tier 1 public sector bank in India to accelerate their digital transformation. With Intellect’s API-first technology, the bank can innovate with speed, ease, and efficiency to meet the evolving needs of its cash management and transaction banking transformations. The selection by Union Bank of India for this crucial project attests to our technology leadership and the shared vision of making banking better.”

Intellect will enable UBI to achieve an impeccable cash management process, boosting operational efficiency and scalability. By providing a fully integrated transaction banking platform, Intellect developed a solutions ecosystem that delivers seamless customer experience powered by the award-winning front-end Contextual Banking Experience (CBX) platform with the ability to deploy new customers quickly, handle large volumes of transactions, improve operational efficiency and help reduce complexity and cost.