One of the largest banks in Jordan adopts Intellect® OneMARKETS to launch its custodial business in Jordan

Multi-Asset, Multi-Currency, Multi-Lingual solution catering to a diverse range of investor categories

  • Greater Operational Efficiency
  • Reduced go-to-market time
  • Enabled the bank to service both domestic and international clients
  • End-to-End Transaction Lifecycle Management
  • Corporate Actions Lifecycle Management
  • Online / Batch interfaces with external systems like the GL system
  • Highly parameterized Billing/Charging module
  • Regulatory changes incorporated into the product on a continuous basis

The client is one of the largest banks in Jordan which is based in Amman. It operates over 60 bank branches in Jordan and 8 branches in the West Bank and Gaza Strip areas, and over 60 automated teller machines.

The client had a requirement of automating and enhancing its securities services business and improve control over its custodial operations. It also needed to revamp its technical infrastructure and significantly reduce its goto-market time.

Intellect deployed its Custody solution, which comes under the OneMARKETS solution suite from iRTM, within a timeframe of 3 months; empowering the bank to launch its custody business in Jordan with a primary focus of providing sub-custody services to global custodian institutions.

The implementation improved the Securities Services business of the bank by giving it greater levels of control, visibility, quality and compliance over its custodial operations. It enabled the bank to better respond to dynamic business / market needs, significantly improve operational efficiency and rapidly launch new products in various market segments based on changing business needs.

Intellect Custody solution implementation has been instrumental in enabling the client to bag the ‘best custodian award’ two times in a row and this credential would go a long way in strengthening iRTM’s brand presence in the Middle East custodial services space.