Intellect Design Arena to help Canadian Western Bank boost payment service technology
Intellect Design Arena said that its transaction banking unit – Intellect Global Transaction Banking (iGTB) has been selected by Canadian Western Bank (CWB) to boost its payments service technology for business owners.
According to the Indian fintech company, Intellect Global Transaction Banking will provide the Canadian bank with its cloud-based cash management system for corporate banking – Payments Service Hub (PSH).
Powered by Microsoft Azure, Payments Service Hub will enable Canadian Western Bank to gain more efficient payment capabilities and opportunities to quickly meet the evolving requirements of business owners in Canada.
Jeff Wright – Senior Vice-President, Equipment, Digital and Client Solutions at Canadian Western Bank said: “Partnering with iGTB means we can provide our clients with a single point of client interaction and information for payments and new payment offerings.
“Business owners need a financial partner that can innovate at the pace of their growth, and iGTB elevates our ability to stay on top of what they need while enabling us to deploy market-competitive payment offerings, reduce manual activities and lower payment costs. With a modernized and fulsome view of our clients’ payment activities, we can continue to deepen the high-touch relationships our clients expect from CWB.”
As per Intellect Design Arena, the Payments Service Hub solution is developed on a cloud-enabled technology for the high availability and scalability required for a payments platform. It is said to use sophisticated In-memory caching, application server and database clustering, and also load balancing to serve the millisecond response times required for instant payments.
By deploying Intellect Global Transaction Banking’s solution, Canadian Western Bank is expected to advance its digital transformation and commitment to provide premium client experiences.
Manish Maakan – CEO of Intellect Global Transaction Banking said: “This strategic six-year managed services partnership solidifies our third cloud deal in Canada. iGTB’s new easy-to-use PSH on the cloud as a managed service lays the foundation of our offering to Canadian banks and credit unions, as well as to financial institutions around the world.”