Parth Desai, CEO and founder of Pelican, discusses why artificial intelligence (AI) is already fact not a fantasy, but cautions that we need to be realistic about what can really be achieved on the journey to true AI adoption in transaction banking and payments.
“Transaction banking will undergo a change of character,” states the global banking giant.
In the aftermath of the financial crisis, transaction banking was considered a reliable source of income for global banking groups. But nearly a decade on, multiple factors are putting pressure on transaction banks’ revenues. This year’s World Payments Report suggests banks increase their investments in digital solutions to offer more compelling propositions to their corporate treasury clients.
Banif Bank in Malta has selected the Pelican Transaction Banking platform. The solution will provide end to end automation of both Swift and single euro payments area payments, including integration with over the counter instructions, Banif’s internet banking system and back office.
Intellect iGTB, the global transaction banking software business of Intellect Design Arena, has implemented its products at CIBC. The project is part of a multi-stage transaction banking and payments tech overhaul at the Canadian banking group.
