This digital transformation will see NBF’s Wholesale Banking digital operations deployed on Microsoft Azure, composed with Intellect’s eMACH.ai technology
London (UK), 17 October, 2024: Intellect Global Transaction Banking (iGTB), the transaction banking business unit from Intellect Design Arena Ltd is proud to announce its partnership with National Bank of Fujairah (NBF), an award-winning UAE-based full-service corporate bank, to enhance its digital capabilities. This deal marks the first Microsoft Azure-managed service for Intellect’s eMACH.ai Cloud for Wholesale Banking in the Middle East.
NBF currently serves corporates and SMEs through its network in the UAE, providing financial services to optimise commercial opportunities and achieve sustainable growth for their clients. With the eMACH.ai Digital Transaction Banking solution, NBF can offer their clients a suite of comprehensive solutions backed by:
- Innovative decision-making and enhanced digital capabilities: For improved information visibility and innovation, ensuring quick decision-making and a seamless user experience for corporate and SME clients.
- Cloud-powered excellence: iGTB, with Microsoft Azure, will provide a fully managed cloud service, freeing NBF to focus on business development and client service.
Commenting upon the partnership, Adnan Anwar, CEO, National Bank of Fujairah said, “NBF as part of its customer experience and digitalisation strategy is adopting full-fledged cloud solutions for mission-critical applications in the wholesale banking space. Through this partnership with iGTB and Microsoft, implementing their comprehensive DTB solution on Azure Cloud will position us to revolutionise our digital banking capabilities, delivering unparalleled experience and security to our clients. “
He added, “NBF is establishing a robust foundation for the integration of the latest emerging technologies, including AI, ensuring a future-ready organisation. As the UAE’s bank of choice for over 40 years, this partnership highlights NBF’s dedication to innovation and customer-centricity, as we continue to lead advancements that empower our clients and drive growth in the digital age.”
Manish Maakan, CEO of iGTB commented, “By selecting Intellect Global Transaction Banking, NBF has chosen a strategic technology partner that offers scalability, operational efficiency, and the ability to grow alongside its wholesale business. NBF’s commitment to advancing its transaction banking infrastructure reflects the critical role of technology to drive growth and innovation in wholesale banking.”
He added, “This is our first deal to be hosted on eMACH.ai cloud for wholesale banking on Microsoft Azure in the Middle East, and is a significant step in the region’s digital banking landscape. Today, over 60% of the world’s best wholesale banks #winwithiGTB, and this deal signifies a pivotal step in cementing iGTB’s leadership position within the UAE & GCC market, underscoring our dedication to offering leading-edge digital banking solutions.”
Patrice Amann, EMEA Regional Business Lead – WW Financial Services, Microsoft said, “iGTB Cash Management on Azure provides a robust platform for banks to streamline and modernise their transaction banking business in the cloud. We look forward to working with Intellect Design Arena to help accelerate National Bank of Fujairah’s digital transformation journey on Azure.”
About Intellect Design Arena Limited
Intellect Design Arena Ltd is an enterprise-grade financial technology leader, providing composable and intelligent solutions for futuristic global financial institutions across 57 countries. Intellect’s revolutionary First Principles Thinking-based Enterprise Connected Intelligence Platform, eMACH.ai, is the most comprehensive, composable, and intelligent open finance platform in the world. With an impressive array of 329 microservices, 535 events, and over 1757 APIs, eMACH.ai enables financial institutions to design and deploy future-ready technology solutions that provide a significant global competitive edge.
With three decades of domain expertise, Intellect offers a full spectrum of banking and insurance technology products through four lines of business: Global Transaction Banking (iGTB), Global Consumer Banking (iGCB), IntellectAI and Digital Technology for Commerce (iDTC). Intellect is a pioneer in applying Design Thinking and our 8012 FinTech Design Center, the world’s first Design Center dedicated to Design Thinking Principles, underscores our commitment to continuous and impactful innovation, addressing the ever-growing need for digital transformation. We proudly serve over 325+ customers worldwide, supported by a diverse workforce of solution architects and domain and technology experts in major global financial hubs. For more information about Intellect, visit https://www.intellectdesign.com
Intellect Global Transaction Banking (iGTB) offers banks a single global ecosystem of consumerization for liquidity, investments, deposits, cash management, cash pooling, cash forecasting, payments, virtual accounts, SME lending, corporate DDA, trade, and supply chain finance. The iGTB suite of transaction banking products, powered by the Contextual Banking Experience (CBX), a white-labeled Digital Engagement Banking Platform, is specially designed to enable corporate clients to make, move, and manage money. It enables banks to achieve their ambition of being the principal banker to their corporate customers. https://www.igtb.com
About National Bank of Fujairah PJSC
Incorporated in 1982, National Bank of Fujairah PJSC (NBF) is a full services corporate bank with strong corporate and commercial banking, treasury and trade finance expertise as well as an expanding suite of personal banking options and Shari’ah compliant services. Leveraging its deep banking experience and market insight within Fujairah and the UAE, NBF is well-positioned to build lasting relationships with its clients and help them achieve their business goals.
NBF’s key shareholders include the Government of Fujairah, Easa Saleh Al Gurg LLC and Investment Corporation of Dubai. Rated Baa1 / Prime-2 for deposits and A3 for counterparty risk assessment by Moody’s and BBB / A-2 by Standard & Poor’s, both with a stable outlook, the bank is listed on the Abu Dhabi Securities Exchange under the symbol “NBF”. It has a branch network of 14 across the UAE. https://nbf.ae/
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