Intellect Global Transaction Banking (iGTB) said it is localizing their services and products in the Philippines by building an innovation hub, hiring Filipinos and opening a local development center.
“I have a very strong philosophy that you have to be local. You bring global best practices you have to localize for scaling,” iGTB chief executive Manish Maakan said in an interview.
Maakan said the Philippines is lagging behind in technology investment in the banking industry. “If I look at the top six or seven countries in the ASEAN region, from the technology investment, [the Philippines] is lagging behind,” he said.
iGTB introduced its platform eMACH.ai to help financial institutions design and deploy future-ready technology solutions to provide a global competitive edge. The intelligence platform has an array of 329 microservices, 535 events and over 1757 APIs.
“What we bring AI, we extract patterns of the data, send it to the AI engines. The AI engines review the patterns and give us a pattern back, and then we decouple it back into the environment,” he said.
The company assured customers of the safety and security of the data they are collecting. “It’s gonna be the safest device because I will not let anyone steal consumer data, So similarly, banks have to give that comfort that your data will not be abused and they have to be equally comfortable from the technology providers,” Maakan said.
The company is wooing two of the four digital banks that are applying for a digital banking license in 2025. “We are pursuing them to be able to offer them core technology. We are in discussion with two of them right now,” Maakan said.
“We keep track on when digital banks are applying for licenses; this also gives us an insight to what innovation they are looking, and bringing into the market,” Maakan said.
He said iGTB offers banks a single global ecosystem of consumerization for liquidity, investments, deposits, cash management, cash pooling, cash forecasting, payments, virtual accounts, SME lending, corporate DDA, trade and supply chain finance.
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