Jordan Kuwait Bank (JKB) has successfully implemented a state-of-the-art corporate banking platform developed by Intellect Global Transaction Banking (iGTB), enhancing its digital transaction capabilities across the Arab region. This strategic deployment marks a significant milestone in JKB’s commitment to its growth ambitions aligned with Jordan Vision 2025 and establishes iGTB as a leading provider with 50% market penetration among transaction banks in Jordan.

Integration of Advanced Digital Banking Technologies

The new Digital Transaction Banking (DTB) platform, powered by iGTB’s eMACH.ai architecture, offers a fully integrated, mobile-first, omni-channel experience. This advancement is aimed at digitizing the entire corporate financial supply chain, covering essential services such as digital cash management, trade finance, and payments. The platform’s implementation is part of a broader digital transformation initiative that positions JKB to better serve its SME and corporate clients in diverse sectors such as power, real estate, energy, hospitality, medical, and aviation.

Enhanced Client Services and Operational Efficiency

With the integration of iGTB’s award-winning Digital Customer Experience suite (CBX) and comprehensive mobile banking services, JKB is now equipped to offer seamless digital experiences that were previously exclusive to the retail and B2C sectors. This transformation not only improves customer engagement but also enhances the efficiency and effectiveness of JKB’s banking services.

Strategic Impact on the Regional Banking Landscape

The successful rollout of the DTB platform at JKB is iGTB’s third major digital transformation project in Jordan, significantly enhancing the company’s influence in the region. Manish Maakan, CEO of iGTB, commented on the implementation, stating, “Our fully integrated Cash & Trade Digital Transaction banking platform has emerged as the premier global solution for Transaction Banking needs in Jordan and the Middle East. Whether it’s delivering a modern Contextual Banking experience or providing robust technology to support cash, liquidity, payment, trade, and virtual account operations, our platform stands at the forefront.”

Market Leadership and Future Prospects

iGTB’s platform now serves three of the six banks that provide Transaction Banking services in Jordan, capturing an impressive 50% market share. Globally, more than 60% of the world’s top corporate banks utilize iGTB’s solutions, including nine of the top ten banks in the Middle East. The iGTB suite is designed to offer a single global ecosystem for liquidity, investments, deposits, cash management, cash pooling, cash forecasting, payments, virtual accounts, SME lending, corporate DDA, trade, and supply chain finance, preparing commercial banks for a new era of customer-centric services.

This implementation underscores a pivotal shift towards digitization in the banking industry in Jordan and the Middle East, reflecting a growing trend of integrating advanced technologies to meet the evolving needs of corporate clients and enhance competitive capabilities in the global banking arena.

  corporate banking, digital transformation, iGTB, Intellect Global Transaction Banking, Jordan Kuwait Bank, Middle East finance, transaction banking