NBF partners with iGTB for digital transformation on Microsoft Azure
In boost to Middle East banking sector
The National Bank of Fujairah (NBF), a full-service corporate bank in the UAE, has partnered with London-based Intellect Global Transaction Banking (iGTB), a division of Intellect Design Arena. The collaboration aims to enhance NBF’s digital capabilities by deploying Intellect’s eMACH.ai Cloud for Wholesale Banking, marking the first Microsoft Azure-managed service in the Middle East.
NBF has a longstanding reputation for providing financial services to corporates and SMEs, helping them capitalise on commercial opportunities and achieve sustainable growth.
Integrating the eMACH.ai Digital Transaction Banking solution will enable NBF to offer its clients comprehensive services characterised by innovative decision-making and enhanced digital capabilities. This advancement will ensure improved information visibility, facilitate quicker decision-making, and enhance the overall user experience for corporate and SME clients.
Adnan Anwar, CEO of NBF, said: “As part of our strategy, NBF is adopting full-fledged cloud solutions for mission-critical applications in the wholesale banking space. Through this partnership with iGTB and Microsoft, we will implement a comprehensive digital transaction banking solution on Azure Cloud, revolutionising our digital banking capabilities and delivering unparalleled experience and security to our clients.”
Solid foundation
Anwar further highlighted the importance of establishing a solid foundation for integrating emerging technologies, including AI, to ensure that NBF remains a future-ready organisation. He noted that the partnership with iGTB underscores NBF’s dedication to innovation and customer-centricity, reinforcing its status as a leading bank in the UAE for over four decades.
Manish Maakan, CEO of iGTB, noted: “By selecting Intellect Global Transaction Banking, NBF has chosen a technology partner that provides scalability and operational efficiency, positioning itself to grow alongside its wholesale business.
“NBF’s commitment to enhancing its transaction banking infrastructure reflects the critical role of technology in driving growth and innovation in wholesale banking.”
Maakan described the agreement as a landmark moment, marking iGTB’s first deployment of the eMACH.ai Cloud for wholesale banking on Microsoft Azure in the region. He pointed out that over 60% of the world’s leading wholesale banks partner with iGTB, and this collaboration solidifies iGTB’s leadership position in the GCC market.
Patrice Amann, EMEA Regional Business Lead for Worldwide Financial Services at Microsoft, added: “iGTB Cash Management on Azure provides a robust platform for banks to streamline and modernise their transaction banking business in the cloud. We look forward to collaborating with Intellect Design Arena to accelerate NBF’s digital transformation journey on Azure.”
The partnership between NBF, iGTB, and Microsoft signifies a significant step forward in the Middle East’s banking landscape. It promises enhanced services and capabilities for clients while setting a benchmark for future advancements in the region’s financial sector.
Featured image: Manish Maakan, CEO of iGTB, speaks at the eMACH.ai Cloud for Wholesale Banking launch event in Dubai City. Credit: iGTB
