UAE's Mashreq switches on GTB

NEW YORK, USA: Polaris Financial Technology Ltd announced that Mashreq, one of UAE's financial institutions, has gone live with Polaris' IntellectGlobal Transaction Banking (GTB) platform. The integrated cash management platform, complete with portal and backend modules, will enable the Bank to offer its customers' transaction banking services on a single platform in multiple countries in the Region.

The announcement further added that with Polaris' multi-country and multi-currency enabled Intellect GTB solution, Mashreq can offer new products such as liquidity and trade via a unified portal. The solution facilitates a global transaction banking implementation on a single instance of the application, improving the Bank's ability to scale up transaction banking operations by three times their current capacity.

Karim Labadi, Head of Global Transaction Services (GTS), Mashreq said, "Corporate customers are now demanding convergence of functionality, self service and management dashboards to manage their internal treasury operations. Polaris' state-of-the-art Transaction Banking portal enables us to meet our objective of providing our corporate clients with comprehensive transaction management through a single portal."

K Srinivasan, Partner & Head -India, Middle East & Africa, Polaris Financial Technology Ltd said, "This is a single instance multi-country roll out of

the transaction banking platform. This engagement has taken our existing

relationship with Mashreq to a new level, increasing our visibility in the

corporate banking space in the Middle East."

The deployment at Mashreq is a complete Global Transaction Banking platform comprising a full service corporate transaction unified portal with

CFO dashboards and back end product processors for corporate payments,

collections and liquidity. Through this portal, as the company states, the Bank offers a single window to their corporate clients for services related to accounts, payments, liquidity, collections and trade. The solution enables Mashreq to offer its corporate customers an integrated GTB platform.