Software

Philippine Business Bank taps Intellect Digital Core to power DX

Intellect Design Arena, a digital technologies company that caters to the banking and insurance sectors, will be the partner of the Philippines Business Bank (PBB) in its journey to digital transformation (DX) with the former’s Digital Core solution, IDC 19.1 solutions.

PBB tapped Intellect Design to accelerate the bank’s digital transformation initiatives and provide small and medium enterprises with access to banking and other financial solutions. Intellect brings a comprehensive product that has been built from strategic investments and adopting best business practices across its implementations globally.

PBB believes that SMEs are major sources of economic dynamism that provide trade, manufacturing and outsourcing services, contributing to local development, in the process. To be the preferred bank of SMEs, PBB has been focused on increasing its branch network across commercial and industrial centers of the country.

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Intellect Digital Core, IDC 19.1, enables PBB to innovate by offering unique lending products and solutions, which will empower PBB to enable its customer base. IDC’s in-built product configurator and pricing engine will allow PBB to create and quickly launch tailored products for specific customer segments. The solution would also allow the growth of the retail loan market while sustaining the bank’s SME loan segment.

“After multiple evaluations for replacing our existing core banking solution, we chose the latest in technology, IDC 19.1 that would strengthen our operations ensuring higher efficiency and drive our digital transformation agenda,” said Rolando Avante, president and CEO, Philippines Business Bank.

“Intellect Digital Core banking suite is a unique combination of product innovation, technology optimization, streamlining operations, transformational customer experience and lower total cost of ownership for the bank,” said Rajesh Saxena, CEO, Global Consumer Banking, Intellect Design Arena Ltd. “Our modular and scalable solution is equipped to meet the challenges of technology, regulations and growing business and customer demands.”