Intellect Design shines on large deal

iGTB which is a complete global transaction banking platform by Intellect Design Arena Limited announced that it has received a large deal from Middle East's second-largest bank in order to enhance the bank's liquidity management capabilities. As a result of this development, the stock of the company jumped by nearly five per cent.

The liquidity management solution by iGTB consists of corporate treasurers with pooling, sweeping, intercompany loans as well as virtual accounts and also, policy-driven automated investment sweeps, cash flow forecasting & real-time funds checking. The system is created so as to deliver automation and comprehensive analysis for more informed decision within corporate treasury departments. iGTB is considered as one of the market leaders in corporate liquidity management. Manish Maakan, CEO of iGTB stated that since there are various UAE Banks using iGTB’s liquidity management solution, this additional deal will help to strengthen the company’s presence in Middle East.

Intellect Design Arena Ltd is a financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, global consumer banking, global transaction banking (iGTB), risk, treasury and markets & insurance software.

On Friday, the stock of the company was trading at Rs 53.75, up by 4.98 per cent or Rs 2.55 per share. The 52-week high is Rs 292 and 52-week low is Rs 48.65 on BSE.