National Bank of Kuwait expands partnership with India's Intellect Global Transaction Banking (iGTB)

Monday, April 15, 2024

Intellect Global Transaction Banking (iGTB), the transaction banking specialist from India's Intellect Design Arena Limited, has won an extended mandate with National Bank of Kuwait (NBK), to accomplish a full digital transformation by modernising existing channels and providing new digital capabilities in transaction banking.

This transformation is a significant leap forward for the bank in terms of scalability and volumes of transactions. It is a key catalyst in accelerating the NBK’s growth ambitions in Kuwait and the Middle East, Intellect Design Arena said in a statement.

Commenting on this partnership, Mr. Manish Maakan, Chief Executive Officer, iGTB, said, “Our enduring alliance with National Bank of Kuwait, which has spanned a remarkable decade, highlights iGTB’s influential position in the digital transaction banking field within Kuwait. In alignment with the ambitious New Kuwait 2035, we are joining forces with NBK in their growth journey, focusing on the integration of revolutionary technology and digital enhancements for the benefit of their corporate and SME customers.”

Meanwhile, the share price of Intellect Design Arena today rose 5.32% to a fresh high of Rs 1050 against the previous close of Rs 996.95 on Bombay Stock Exchange. Market cap of the firm climbed to Rs 14,008 crore.

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