Intellect Design Arena Powers Swaziland Building Society’s Transition to Commercial Banking with eMACH.ai Treasury

Intellect Design Arena Limited has announced that Swaziland Building Society (SBS) has successfully gone live with its eMACH.ai Treasury Suite, marking a major milestone in the financial institution’s transformation into SBS Bank Eswatini. The implementation supports SBS’s transition from a traditional mortgage lender to a full-service commercial bank following the grant of a provisional commercial banking licence by the Central Bank of Eswatini (CBE).

The deployment further strengthens Intellect Design Arena’s long-standing partnership with SBS, which began in 2018 across Core Banking, Lending, and Treasury solutions.

A Strategic Milestone for SBS Bank Eswatini

Established in 1962, Swaziland Building Society has been one of Eswatini’s leading mortgage finance institutions for more than six decades.

As part of its evolution into a commercial bank, SBS needed to modernize its treasury operations by replacing manual spreadsheet-based processes with an advanced, automated treasury management platform capable of handling multiple asset classes and meeting commercial banking regulatory standards.

The implementation of Intellect’s eMACH.ai Treasury addresses these requirements while laying the foundation for future business growth.

AI-Powered Treasury Transformation

Before the implementation, SBS relied heavily on manual processes for managing investments and liquidity.

The new AI-first treasury platform introduces automation and intelligent workflows across key treasury functions, enabling the bank to operate more efficiently while improving risk management and regulatory compliance.

Key Benefits Delivered by eMACH.ai Treasury

• 100% automation across:
  • Foreign Exchange (FX)
  • Money Market transactions
  • Call and Notice Deposits
  • Fixed Deposits
  • Fixed Income Securities
• Improved liquidity management through the new Call/Notice module, allowing SBS to maximize returns while maintaining intraday liquidity.
• Enhanced operational accuracy with features such as:
  • Dynamic interest splitting
  • Send-Back workflow
  • Precise handling of mid-period interest rate and balance changes
• 90% reduction in manual intervention through automated SWIFT messaging using MT320, MT202, and MT210 standards.

These enhancements significantly improve treasury efficiency while providing a fully auditable operating environment.

Seamless Implementation

The project was completed through a high-speed User Acceptance Testing (UAT) cycle supported by Intellect’s offshore delivery model.

To ensure a smooth production rollout, the company deployed onsite implementation experts in Mbabane, providing dedicated hyper-care support during the go-live phase.

Management Commentary

Jerome Msibi, Chief Financial Officer of Swaziland Building Society, highlighted the importance of the treasury upgrade in meeting commercial banking requirements.

According to Msibi, the new treasury platform successfully handled complex scenarios involving multiple changes in balances and interest rates, delivering the high level of calculation accuracy required for commercial banking operations.

He also emphasized the long-standing technology partnership between SBS and Intellect across Core Banking, Lending, and Treasury platforms.

Intellect Highlights Platform Strength

Rajesh Saxena, Chief Executive Officer of Intellect Consumer Banking, said the successful deployment demonstrates the flexibility and architectural strength of the eMACH.ai Treasury platform.

He noted that Intellect enabled SBS to migrate from a building society treasury model to a commercial banking treasury platform through incremental enhancements while introducing advanced capabilities in:

• Foreign Exchange
• Money Markets
• Fixed Income
• Advanced Call Notice functionality

The company believes this implementation showcases its ability to support treasury transformation projects for financial institutions worldwide.

Long-Term Partnership Continues

Intellect Design Arena has been a strategic technology partner for SBS since 2018, providing solutions across:

• Core Banking
• Lending
• Treasury Management

The latest treasury implementation further deepens the relationship and supports SBS’s long-term digital transformation roadmap.