Kuwait’s Boubyan Bank enhances transaction banking with Intellect’s eMACH.ai platform

Kuwait’s Boubyan Bank has strengthened its transaction banking capabilities with the successful second-phase implementation of Intellect’s eMACH.ai Wholesale Banking platform, as per an official statement.

The new solutions introduced through Intellect Global Transaction Banking (iGTB) are designed to address the specific financial challenges of various sectors, including telecom, fintech, real estate, trading services, and oil and gas. These enhancements provide businesses with improved cash flow management, streamlined billing processes, real-time financial insights, and optimised liquidity management. By integrating these industry-specific solutions, the bank aims to empower businesses to operate with greater efficiency and resilience in an evolving market.

Boubyan Bank has also introduced several advanced offerings including a comprehensive liquidity management system that enables businesses to have automated control over their cash positions. Additionally, automated receivables management and virtual accounts have been implemented to enhance reconciliation accuracy and operational efficiency. The bank has also launched EPay, a digital receivables solution that accelerates payment recovery through QR code-enabled transactions, strengthening the financial supply chain ecosystem.

Further digital advancements include enterprise-grade mobility solutions that provide secure and seamless access to financial tools, allowing businesses to drive efficiency in a dynamic corporate environment. Additionally, the integration of corporate clients' ERP and Treasury Management Systems through Host-to-Host connectivity ensures smooth processing of collections, payments, and reconciliations.

The implementation of Intellect’s solutions is expected to provide a seamless transaction banking experience for both corporate and SME customers, allowing them to adapt to shifting market conditions.

Abdul-Salam Mohammed Al-Saleh, Chief Executive Officer of Corporate Banking, Financial Control, Treasury, and Legal Affairs at Boubyan Bank, emphasised the importance of digitisation in modern banking. 

He highlighted the bank’s long-term strategy, which focuses on digital innovation and customer-centric services. The partnership with iGTB, he said, will play a crucial role in achieving Boubyan Bank’s strategic objectives and reinforcing its leadership in Kuwait’s financial sector.

Manish Maakan, CEO of Intellect Wholesale Banking, said that the implementation of eMACH.ai aligns with the shared vision of providing corporate and SME clients with comprehensive transaction banking solutions that enhance efficiency and user experience.

In January, Intellect Global Consumer Banking (iGCB) enhanced its flagship eMACH.ai Cards platform by integrating the Thales payShield Hardware Security Module (HSM). This upgrade strengthens security and cryptographic capabilities, addressing the growing demands of banks, NBFCs, fintechs, and e-commerce platforms for advanced protection in digital payments.