Santander implements iGTB payments hub in Latin America

London (UK), Jul 04, 2018. Intellect Global Transaction Banking (iGTB), the corporate banking technology provider from Intellect Design Arena Limited, and Banco Santander, the euro zone’s largest bank by market capitalisation, have agreed a deal to implement iGTB’s Intellect Payments Services Hub (IPSH)– bringing next-generation payments capabilities to its corporate clients.

“This will set the standard for European banks in terms of client service and efficiency – not only in Central and Eastern Europe, where most banks are playing digital catch-up, but also in more developed markets.” says Manish Maakan, CEO of iGTB. “Santander have shown great skill in covering Europe, North America and of course has especial links to Latin America.”

Continuing a decade-long partnership between the two firms, the deal positions Santander Corporate & Investment Banking, Santander’s global wholesale division, at the forefront of digital corporate payments innovation. iGTB’s IPSH, however, represents is a shift in gears – directly upgrading the bank’s own infrastructure – and is an early example of European banks’ commitment to IT investment in 2018.

José Luis Calderón, Head of Global Transaction Banking, Santander, says, “In line with our strategy of focussing on innovation to increase customer loyalty and operational excellence, this digital transformation of our payments services is excellent news for both us and our corporate clients. This initiative will boost operational efficiency and scalability, giving a solid foundation for sustainable business growth, improving even more Santander Cash Nexus – our Global Cash Management solution, and we’re confident our clients will love the consistency, efficiency, flexibility and speed of our new system.”

The deal also enables the bank – a major gateway to Latin America – to offer best-in-class digital services in a region.