Intellect Global Transaction Banking (iGTB), the transaction banking specialist from Intellect Design Arena Ltd, today announced the launch of iGTB Copilot, a suite of AI solutions for Commercial & Corporate Banking.

iGTB Copilot integrates Microsoft Azure OpenAI Service to reinvent customer experiences and revitalize productivity for both commercial banks and their clients. Seamlessly fusing the potential of vast commercial banking data with state-of-the-art AI technologies such as large language models (LLMs), machine learning, deep learning, predictive analytics, and virtual agents, iGTB Copilot maintains an unwavering commitment to data security and privacy within enterprise realms.

iGTB Copilot: a whole new way to derive value from Data

Capitalizing on iGTB’s extensive domain expertise in Commercial & Corporate Banking, iGTB Copilot introduces an array of over 50+ AI use cases covering cash management, liquidity, investments, deposits, cash pooling, cash forecasting, payments, virtual accounts, trade, and supply chain finance. This empowers bankers to:

  • Achieve Enhanced Revenue Growth – by optimizing value for both the bank and clients.
  • Acquire Deeper Insights into Customer Trends – enabling the delivery of precise, personalized offers.
  • Implement Effective Risk Management – minimizing exposure and decoding fraud patterns.
  • Elevate Client Satisfaction – cultivating stickiness and driving increased adoption of products and services.

Commercial Banks have all the mission-critical customer data and business processes they need to understand their clients. However, with the exponential rise in real-time transaction volumes, banks today often struggle to uncover insights that can drive personalized service and deeper relationships. iGTB Copilot closes this gap with the power of AI – by automating tedious tasks through assisted AI agents, discovering user insights from vast amounts of data managed by the corporate banks, and accelerating their pace of interactions to improve business outcomes in every aspect of commercial & corporate banking.

With iGTB’s deep understanding of the corporate banking domain & data models, we are able to unlock insights using the power of Generative AI.

iGTB Copilot for Payments

At Sibos 2023, we are featuring iGTB Copilot for Payments developed in collaboration with Microsoft using Azure OpenAI. Presently undergoing trials with chosen commercial banks, including prominent global Tier 1 banking institutions, iGTB Copilot for Payments has the capacity to unleash the inherent value within ISO20022 Payments messages.

The solution allows the bank’s Relationship Managers (RM) to have a conversational platform that leverages customer information & transactions payments data from the bank’s enterprise ISO data store.

With over 15 distinct Payment AI use cases, iGTB Copilot empowers RMs with

  • Payment Pattern Identification: Analyze patterns in payments transactions at both aggregate and per client levels.
  • Insight Generation: Extract insights based on payment types, values, geographic distribution, counterparties, remittance details, and more.
  • Automated Communication: Implement instant automated communication to clients driven by these insights to expedite issue resolution.
  • Enhanced Customer Support: Elevate responsiveness in customer support for payment transactions, leading to improved customer satisfaction.
  • New Business Opportunities: Identify cross-selling and upselling prospects among corporate clients based on their payment trends.

This solution will be subsequently extended to corporate clients so that they can derive insights on their own and get self-serve capabilities, building upon iGTB’s integrated transaction banking product lines.

According to iGTB CEO, Manish Maakan, “ With iGTB Copilot, we are poised to reshape the financial technology landscape providing commercial banks with the powerful AI technologies they need to thrive in an increasingly interconnected and competitive industry. Together with Microsoft, we are Piloting a roadmap that unlocks the potential Artificial Intelligence in Financial services and seeks to showcase the transformative capabilities of Microsoft Azure OpenAI Service in the Commercial Banking space”.

He further added, “I take immense pride in the collaborations we’ve forged and the expansion of our customer base across the globe. At present, over 60% of the world’s top transaction banks #winwithiGTB. This remarkable achievement solidifies our position as the undisputed leader in the transaction banking industry, as we persist in delivering substantial returns for our clients across the globe.”

According to Madhan Arumugam Ramakrishnan, Corporate Vice President, Microsoft Cloud for ISVs “Azure OpenAI is transforming the way Industries work with its purpose-built tooling enabling effective prompt engineering, experimentation, and safety mechanisms that allows our partners to deliver newer customer experiences and analytics. The power of Azure OpenAI services combined with iGTB Copilot for Payments is key to unlocking incredible insights within the ISO 20022 banking data repository. These new insights have a direct impact on a bank’s corporate clients who cut across industries such as healthcare, retail, pharma and manufacturing. We collaborated together with iGTB to deliver a reference architecture and co-engineer patterns for success.”

Today’s announcement builds on iGTB’s collaboration with Microsoft [click link to read] as its preferred cloud platform to remove traditional barriers of banking technology adoption, thereby help banks go-to-market faster with liquidity, investments, deposits, cash management, cash pooling, cash forecasting, payments, virtual accounts, trade and supply chain finance cloud offerings to their corporate clients.