Maybank Indonesia deploys Intellect’s treasury solutions for Indian operations
Intellect Design Arena has announced that Bank Maybank Indonesia, one of the largest banks in Indonesia, has gone live with Intellect’s Integrated Treasury Management System (ITMS) – OneTREASURY for their Indian operations.
The centralized treasury management solution from Intellect’s Risk, Treasury and Markets (iRTM) division has enhanced operational efficiency across asset classes and enabled the overseas branch to eliminate dependence on intensive manual operations.
The entire process of solution deployment, User Acceptance Testing (UAT) and data migration was completed in a span of 7 months.
The product implemented will play a key role in the bank’s treasury operations in India. This robust and functionally rich ITMS solution is compliant with the RBI regulations and integrates seamlessly with the Bank’s Core Banking System.
The solution suite implemented will enable its Indian customers to trade across Fixed Income, Money Market and Foreign Exchange securities electronically and mitigate the risk associated with these trading activities.
The flexible data upload facility aids decision makers to make insightful decisions on time by reducing manual intervention and minimizing errors. Bank’s need for a treasury solution which could be implemented in quick time frame for mobilizing operations was possible by Intellect’s Rapid Implementation Methodology which allows the bank to transfer and deliver a working system in a span of a couple of months inclusive of go-live.
Bank Maybank Indonesia, India, CEO Pravin Batra said: “We are happy to have chosen the stable and functionally rich solution from Intellect to manage our treasury operations in India. This implementation has been smooth and has enabled us to meet India-specific regulatory needs in line with our business objectives.
“We are extremely delighted to see the outstanding team effort put forward by team Intellect during implementation. At Maybank we believe in providing superior customer experience; with a stable treasury system from Intellect we are confident of providing an unprecedented service and banking experience. We look forward to further strengthening the relationship between Maybank group and Intellect Design Arena going forward."
Intellect Design Arena treasury & capital markets, risk, chief executive officer Venkatesh Srinivasan said: “Bank Maybank Indonesia's choice of Integrated Treasury Management System, Intellect OneTREASURY, to power their foreign branch operations is yet another testimony to the superior functionality of our solution and our leadership in the country's treasury management space.
“The cost effective OneTREASURY solution meets the Indian regulatory requirements which will enable the bank to achieve its business objectives and improve its competitiveness in the international marketplace."
The advanced scalable OneTREASURY solution enhances productivity and enables centralized decision making for the bank. Customers of the Indian branch will now have access to a user-friendly treasury system which centralizes operations and provides operational efficiency through complete automation and seamless integration of treasury functions.
- Centralized treasury operations and complete automation results in operational efficiency and increased productivity
- Ensures compliance to regulatory guidelines stipulated by the RBI
- Facilitates better/quicker decision making by reducing manual intervention and eliminating errors
- Supports across asset classes and mitigates risk
Source: Company Press Release