Intellect Design Arena Ltd. has announced that Swaziland Building Society (SBS) has successfully gone live with its eMACH.ai Treasury suite, supporting the institution’s transition into SBS Bank Eswatini following the provisional commercial banking licence granted by the Central Bank of Eswatini.
Intellect has been a technology partner to SBS since 2018, providing solutions across core banking, lending and treasury operations.
As part of its transformation from a mortgage-focused institution to a full-service commercial bank, SBS has modernised its treasury operations by replacing spreadsheet-based processes with an AI-first treasury platform capable of managing multiple asset classes.
The implementation enables complete automation across foreign exchange, money market and fixed income securities transactions. It also introduces a new Call/Notice module to improve liquidity management and investment returns, while features such as dynamic interest splitting and a Send-Back workflow enhance transaction accuracy and auditability. Automated SWIFT messaging for MT320, MT202 and MT210 messages is expected to reduce manual intervention by 90 per cent.
The project was delivered through an offshore support model with on-site assistance during the go-live phase in Mbabane to ensure a smooth transition.
Jerome Msibi, Chief Financial Officer, Swaziland Building Society, said, “Intellect has been a long-term partner of Swaziland Building Society, empowering us with innovations over the years across Core Banking, Lending and Treasury. This treasury upgrade was critical for us to comply with regulatory requirements of our commercial banking license. We tested eMACH.ai Treasury’s new call functionality, specifically verifying call placement and borrowing where both rate and balance change multiple times. The accuracy of the calculations meets our high expectations for commercial banking standards. We look forward to our continued partnership.”
Rajesh Saxena, Chief Executive Officer, Intellect Consumer Banking, said, “This is a journey I’m particularly excited about, as it validates the architecture strength of eMACH.ai Treasury and engineering vision. We enabled a seamless transition of SBS Treasury from a building society to a commercial bank through incremental enhancements, while introducing region-specific capabilities like advanced Call Notice and expanding into FX, Money Markets and Fixed Income. We look forward to supporting our clients in their treasury transformation journeys with strong execution discipline.”
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