Intellect Design Arena gains after Burgan Bank deploys iGTB banking platform

Intellect Design Arena rose 2.12% to Rs 263 after Burgan Bank deployed the company's digital transaction banking platform to power its corporate banking expansion strategy.

Intellect Global Transaction Banking (iGTB), the transaction banking and technology specialist from Intellect Design Arena, on Monday (23 November 2020) announced that Burgan Bank, a leading banking service provider to the Kuwaiti business community has successfully deployed superior customer-centric channel capabilities to augment and enhance its digital cash management services.

Burgan Bank is now poised to offer a full range of streamlined and advanced transaction banking services to leading Kuwaiti corporations & SMEs across the trading, manufacturing, contracting, alternative energy and advanced technology sectors.

On a consolidated basis, Intellect Design Arena a reported net profit of Rs 59.41 crore in Q2 September 2020 as compared to a net loss of Rs 16.14 crore in Q2 September 2019. Net sales jumped 13.8% to Rs 371.81 crore in Q2 September 2020 over Q2 September 2019.

Intellect Design Arena is a financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products. It does so via its four lines of business, namely, global consumer banking, iGTB (global transaction banking), risk, treasury and markets and insurance software.

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