Public sector banking major Bank of Baroda is going ahead with its supply chain finance solution implementation project and has selected Intellect Global Transaction Banking (iGTB) which is a subsidiary of Intellect Design Arena. The solution will have a range of offerings including pre and post shipment financing, vendor and dealer finance, etc.
“With this latest state-of-art digitized SCF product, we are now live with a few large corporates and many more in the pipeline. With this product we will be augmenting our relationship with large corporate customers and SME clients,” Litesh Majethia, head of supply chain finance at Bank of Baroda has been quoted as saying in a recent news report. .
“Our strong experience in supporting other Indian banks and financial institutions means our supply chain finance offering is the most mature and sophisticated it has ever been. Supply chain finance – when done properly – provides banks with an opportunity to become a valuable partner in their clients’ supply chains and ensures sustained growth and profitability of clients and their business partners,” added Manish Maakan, CEO of iGTB.