GlobalData
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First Abu Dhabi Bank (FAB) has deployed a debt management solution from Intellect Global Consumer Banking (iGCB), a unit of Intellect Design Arena.
The system is part of Intellect’s eMACH.ai Lending platform.
This move is stated to be part of FAB’s credit strategy to bolster operational efficiency and customer experience by transitioning to a “comprehensive” and automated digital process.
The integration of the debt management system within FAB will automate various processes and connect over ten subsystems, ensuring real-time data visibility of the bank's credit portfolio, highlighted the tech vendor.
This is part of FAB's vision to fully automate its debt collection features within the next five years, aligning with the bank's focus on technological advancement and customer-centric services.
FAB, with the new eMACH.ai Lending platform, will be able to create collection strategies, manage collections across loan and card variants, streamline the collection process to reduce recovery costs, and partner more effectively with loan recovery agencies, states Intellect.
This will provide the bank with complete visibility of the information and actions taken by agencies working on debt, thereby improving collection efficiency.
The collaboration with Intellect Design Arena began in 2005.
Intellect Global Consumer Banking CEO Rajesh Saxena said: “FAB’s decision to implement eMACH.ai Digital Lending, following their investment in our core banking and digital engagement platform, highlights the strength of this partnership and FAB’s confidence in our advanced solutions. We remain dedicated to empowering our partners, including FAB, on their digital transformation journey, equipping them with innovative solutions that cater to the evolving demands of their customers.”
In December 2023, OTP Bank, headquartered in Hungary, announced that it will implement the Intellect Digital Core (IDC) core banking system provided by iGCB.
"First Abu Dhabi Bank implements Intellect’s debt management system" was originally created and published by Retail Banker International, a GlobalData owned brand.
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