Union Bank of India (UBI) has entered into partnership with Intellect Design Arena to bolster transaction banking with an advanced cash management system built on eMACH.ai. This strategic partnership with Intellect will provide UBI with a fully-integrated cash & payments management platform, which is expected to enhance the experience and operational efficiency of their corporate and SME customers.
Through this implementation, Intellect is focused on streamlining the cash management and end-to-end mandate management business, to provide a seamless solution that enables the bank to identify and address complex regulatory and compliance concerns comprehensively. Intellect’s innovative products for corporate, commercial and SME clients, will help the bank to enhance its customer friendliness through technology and achieve its goal of becoming the most customer-centric bank.
With the help of Intellect’s Cash Management System, UBI will enhance its agility aiding user experience. The platform enables the bank to update and expand its cash management offering by providing a total crack sales solution, design of the overall approach, positioning and providing the bank with the necessary digital support. The solutions will help the bank become more competitive, streamline internal processes and, in turn, generate additional revenue streams.
Today, the stock opened at Rs 543.20, with a high and low of Rs 557.45 and Rs 543.20. Currently, the stock is trading at Rs 556.75, up by 1.93%. The stock has a 52-week high of Rs 719.00 and a 52-week low of Rs 388.00.
Intellect Design Arena, a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products.