Now, access corporate banking services on Apple, smartwatch devices

Platform also helps protect banks from commercial risks

Intellect Design Arena's iGTB has launched a new solution that helps users access corporate banking services from their Apple Watch and smartwatch devices.

Intellect Design Arena was a part of Polaris Consulting before its demerger.

The platform includes sanctions screening, an artificial-intelligence-powered solution that goes beyond current KYC methods by incorporating a natural-language contextual search of social media to protect banks from commercial risks.

Quoting a Morgan Stanely report, the company said that the cost of breaking sanctions is around $12 billion. It further said that around 6% of banks' supposedly clean names were discovered to be high risk.

The company has also released a new version of its digital enterprise platform CBX.

CBX features centralised fine-grain bank-grade entitlements, a payments pre-processor (e.g. for tanking future payments), a fees and charges module to allow bundled cash and trade volume discounting, online chat features and biometric log-in as well as customary enhancements to user experience.