London (UK) & Singapore, October 17, 2018: The Asian Tiger Singapore showed its hunger for growth and digital transformation when more than 50 participants representing 25 leading Asian banks attended the fourth iGTB Oxford School of Transaction Banking, held at the Fullerton in Singapore - the first outside its home base, Oxford.
Mr.Yoshihisa Tokazu, Transaction Banking Division, MUFG, Tokyo said " How we will proceed and process a transaction banking business is being illustrated with examples. This will help in resyncing and improving our process."
Mr.Devashis Das, Joint General Manager, Mizuho, Singapore said “A room full of transaction bankers with 15-30 years of experience is a lot of learning; take lessons and implement for better bank performance."
Mr. Loo Eng Hock, GTB Head, HLBB Malaysia commented “Fantastic program, I will recommend the program to all transaction bankers striving for excellence in managing top lines, clients and products.”
Mr. André Lee, Consultant, ALIS Capital Advisors Pte Ltd, Singapore, formerly senior executive with Citi, AmBank, UOB & Maybank Malaysia, said “The content in the course is highly relevant and up-to-date. Practical examples on how these are applied are perfect for grooming transaction bankers”.
The inaugural Asia iGTB Oxford School of 2018 in front of the famous Marina Bay
This year, the event was again led by Ted Roosevelt Malloch, CEO, The Roosevelt Group and unearthed a number of practical considerations for banks looking to capitalise on the growth opportunities in Asia. Enhanced by practical design insights from a stellar cast of been-there done-that experienced bankers, the course shares best practices and also allows the participants to test their own designs in practical exercises using “Design Thinking” principles – all to provide optimal solutions to address the key challenges in transaction banking, as well as understand how digital innovations, marketing, economic and attitude of CEO’s can impact transaction banking.
The School was well received by attendees drawn from across the financial services sector, achieving a magnificent Net Promoter Score of 72%, all responses agreeing they would recommend the course, and half scoring it 10/10.
Graduation at the iGTB Oxford School. Left to right: Mr Andrew England, Strategy Director, iGTB, Mr Arun Jain, Chairman, Intellect Design Arena, Mr Devashis Das, Joint General Manager, Mizuho, Dr Theodore Roosevelt Malloch, CEO, TRG, Mr Manish Maakan, CEO, iGTB
Mr. Manish Maakan, CEO of iGTB, said: "An Asia-exclusive iGTB Oxford school for transaction banking has turned out a massive success, with participation from numerous regional banks across Asia. Not only have we received excellent feedback from participants, but they will also now collaborate with each other as alumni of an elite school. The transaction banking business has never been so relevant to this part of the world. It has become imperative for banks to engage in a digital transformation of their transaction banking apparatus, and hence it is vital for emerging banks to understand and prioritise the various aspects of transaction banking. Our curriculum unlocks their potential, and we look forward to our events next year.”
About this year’s School
Asian markets are beginning to empower each other. The continent’s intraregional Foreign Direct Investment (FDI) is more than 55% of all FDI pumped into Asia, and this new confidence was palpable in attendees who were eager to bring their transaction banking apparatus up-to-date and drive growth among businesses in one of the world’s largest and oldest markets. The growth of intraregional trade in Asia, led by the exponential growth in SMEs and corporations, is also increasing demand for full-fledged and holistic transaction banking services. iGTB Oxford is the right brains trust for Asian banks that are looking to transform their digital transformation banking apparatus and become the principal bankers for their corporate clients growing at an exponential rate.
The course’s special curriculum, designed by Andrew England, Strategy Director, iGTB – whose aim is to teach “how to run a successful and profitable transaction banking franchise” – found many takers in Asia, with regional bank realising that transaction banking can accelerate their growth and reach within Asian markets and even beyond.
Two subjects became prominent in all discussions: the advent of fintechs, and the challenges faced by senior corporate treasurers.
A corporate panel shared invaluable insights about their buying practices, managing multiple accounts across regional and multinational banks, and their urgent need for innovation in banks, especially in virtual accounts
About Intellect Design Arena Limited
Intellect Design Arena Ltd, a specialist in applying true digital technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely-on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting-edge products and solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect generates annual revenues of more than USD 169 million, serving more than 200 customers through offices in 40+ countries and with a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com. For information on the solutions for global transaction banking, please visit www.igtb.com.
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