Dubai (UAE), September 16, 2013: Banking and insurance solutions leader Polaris Financial Technology, has launched iGTB, the world's first complete global transaction banking, here today. The third generation iGTB platform with a built-in Corporate Business Exchange, enables transaction banks to position themselves as the principal bank for their corporate customers.
Polaris’ iGTB will focus exclusively on transaction banking, leveraging its successful solutions across the Global Transaction Banking (GTB) market. iGTB is a platform to seize the tremendous global transaction banking opportunity, estimated by the Boston Consulting Group at US $ 509 billion by 2021 at a 10.4% growth rate. Polaris’s GTB division already supplies top banks across the world with Transaction Banking solutions.
Says Manish Maakan, Chief Executive Officer, Polaris iGTB: “Transaction Banking is about enabling financial institutions improve their day to day business and, as such, is critical to the world’s economic growth and recovery. I am delighted that we are able to bring all the components of the complete global transaction banking platform to financial institutions, whether they need an integrated package or to deploy just one element to improve an existing offering. Now corporate customers can have all their transaction needs seamlessly integrated through a consolidated next generation portal for the corporate user, leveraging the Customer Business Exchange. With Customer Business Exchange we provide clients with a single fast highway to run Customer Onboarding, Payments Services, Receivables Management, Cash Management, Liquidity Management, Funds Control, Trade Finance and Supply Chain Finance, singly or in an integrated set, whilst others are stuck on single track roads.”
Headquartered in London, Polaris’ iGTB division has offices in New York, Toronto, Frankfurt, Tokyo, Sydney, Singapore, Chicago, San Francisco, Sao Paulo, Stockholm, Johannesburg, Dubai, Riyadh and Mumbai as well as the wider geographic presence of Polaris, its parent company which is Chennai based.