Banks catch up with Amazon and Netflix with iGTB’s CBX 18

London (UK), October 17 2017: iGTB, the transaction banking and technology specialist from Intellect Design Arena Limited, has launched the era of “contextual” banking with the release of new corporate banking platform CBX 18. Standing for “Contextual Banking eXperience”, the platform not only provides seamless digital execution across the full range of transaction banking actions, but – uniquely – also offers instant and intelligent recommendations as to the best actions available to banking clients.

“Finally, a transaction banking solution that gets it!” says Manish Maakan, CEO of iGTB. “For years, banks have drawn their clients into the esoteric world of BACS, CHAPS, wires and GIROs. But all a client wants is to move money – asking them how they want it done is like an airline asking its passengers what fuel they want.”

CBX 18 moves transaction banking into the territory of customer-service champions such as Amazon and Netflix – using information on the client and its context to understand and anticipate their needs. An intelligent algorithm then calculates the optimal action based on their specific situation and preferences. iGTB calls this approach “contextual banking”.

“We’re not kidding around when we compare this platform to Netflix,” adds Michel Jacobs, Global Sales Head and Head of Digital & Payments, iGTB. “We have actually built in open-source software from Netflix as part of the solution. And we haven’t added it unthinkingly – we’ve examined it, evaluated it, and improved it.”