Transaction banking products provider Intellect Global Transaction Banking (iGTB) and cloud-based software solutions firm Pivotal are partnering to enhance corporate banking technology for businesses in the U.S. and U.K.
The companies made an announcement Friday (Feb. 9) noting iGTB will lend its cash management platform, CBX 18, to Pivotal clients via its Pivotal Cloud Foundry cloud platforms. Together, the solutions will enhance corporate banking capabilities using artificial intelligence and API technology, and allow banks that operate the Pivotal Cloud Foundry platform to add the CBX 18 solution into their offerings.
iGTB described its CBX 18 solution as one that provides “contextual” corporate financial services. The platform deploys predictive analytics and machine learning to automate both tailored services for businesses and the process of choosing “best-next” actions, all based on that corporate’s current situation. This not only saves corporate treasurers time, the company said, but also saves financial institutions (FIs) money and enhances customer retention.
“Teaming up with Pivotal is a big step forward and underlines the commitment to our technology roadmap complementing our focus on customers’ needs,” said Manish Maakan, iGTB CEO, in a statement. “Pivotal Cloud Foundry supports our ability to run our digital banking platform both securely and at any scale, and empowers both our own and our clients’ Dev and DEvOps teams to deliver enhancements, new integrations and innovations at speed. Thanks to the automation we have applied to every element of the technology stack, Pivotal Cloud Foundry will improve our offering to new and existing clients in Europe and the U.S. in particular, allowing us to deliver one of the most sophisticated corporate banking platforms on the market.”
“Digital transformation is on the mind of every business leader, especially in banking and financial services,” added Pivotal CEO Rob Mee in another statement. “To adapt, financial institutions need to bring together the best of modern developer environments with industry-specific software solutions designed to address constantly evolving customer needs. CBX 18 on Pivotal Cloud Foundry represents a significant collaboration between iGTB and Pivotal, where the world’s largest banks are able to deliver new, integrated customer experiences driven by context and advanced analytics, while IT has peace of mind knowing that it runs on a secure and agile cloud platform.”