Boubyan Bank, a leading Islamic bank in Kuwait, has taken a significant step towards modernising its transaction banking capabilities. The bank has successfully implemented the second phase of Intellect Global Transaction Banking’s (iGTB) eMACH.ai Digital Transaction Banking (DTB) solution.
Intellect Global Transaction Banking (iGTB) is the transaction banking business unit of Intellect Design Arena Ltd. This move is part of Boubyan Bank’s strategy to become the principal bank for corporate clients in Kuwait, offering enhanced digital solutions for businesses across various industries.
The share price of Intellect Design Arena was trading 3.60% lower as of 12:26 PM on February 18, 2025.
The eMACH.ai platform provides tailored financial solutions for industries including oil and gas, telecom, fintech, real estate, manufacturing, and trading services. Each sector benefits from digital innovations designed to improve operational efficiency and financial oversight:
Boubyan Bank’s adoption of Intellect’s eMACH.ai Wholesale Banking platform enables a host of digital banking features designed to enhance corporate banking services:
Boubyan Bank’s investment in digital transformation aligns with its long-term strategy of enhancing customer experience and expanding its corporate banking capabilities. According to Abdul-Salam Mohammed Al-Saleh, CEO – Corporate Banking, Financial Control, Treasury and Legal Affairs, “Digitisation will enable our customers in Kuwait to enjoy the benefits of modern transaction banking and cash management services while we ensure these solutions meet our Sharia principles and beliefs as well. This go-live is another milestone showcasing our commitment to our commercial customers by providing comprehensive cash management and transaction banking capabilities to further strengthen our leadership position in the market.”
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Published on: Feb 18, 2025, 3:40 PM IST
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