Polaris Financial Technology Limited launched iGTB, the world’s first complete global transaction banking platform at Sibos, Dubai today. Building on a worldwide customer base, the third generation iGTB platform with a built-in Corporate Business Exchange, enables transaction banks to position themselves as the principal bank for their corporate customers.
With the launch of the formidable Polaris third generation iGTB with built in Corporate Business Exchange, banks can power their way to Principal Banker position. Polaris’ iGTB will focus exclusively on transaction banking, leveraging its successful solutions across the Global Transaction Banking (GTB) market. iGTB is a platform to seize the tremendous global transaction banking opportunity, estimated by the Boston Consulting Group at $509 billion by 2021 at a 10.4% growth rate. Polaris’s GTB division already supplies top banks across the world with Transaction Banking solutions.
Manish Maakan, Chief Executive Officer, Polaris iGTB, said “Transaction Banking is about enabling financial institutions improve their day to day business and as such, is critical to the world’s economic growth and recovery. I am delighted that we are able to bring all the components of the complete global transaction banking platform to financial institutions, whether they need an integrated package or to deploy just one element to improve an existing offering. Now corporate customers can have all their transaction needs seamlessly integrated through a consolidated next generation portal for the corporate user, leveraging the Customer Business Exchange. With Customer Business Exchange we provide clients with a single fast highway to run Customer Onboarding, Payments Services, Receivables Management, Cash Management, Liquidity Management, Funds Control, Trade Finance and Supply Chain Finance, singly or in an integrated set, whilst others are stuck on single track roads.”
Designed for complexity reduction between banks and corporate customer operations, superior workspace design technology assures enhanced operational productivity. “We are confident about this sector because several of the world’s leading global transaction banks use Polaris for transaction banking solutions, while a large number of smaller transaction banks use the integrated package to compete effectively using products and STP of the same top quality. The iGTB brand was carefully chosen to build on the rich Polaris heritage and bring a sharp focus on Global Transaction Banking (GTB),” added Maakan.
