Product Launch Details

Intellect Design Arena Ltd announced that Swaziland Building Society (SBS) has successfully implemented its eMACH.ai Treasury suite. This implementation marks a critical phase in SBS's transformation into SBS Bank Eswatini, following its provisional commercial banking licence from the Central Bank of Eswatini (CBE).

Strategic Partnership Background

Intellect has been a strategic technology partner with SBS since 2018 for various technology offerings including Core Banking, Lending and Treasury. SBS has been a pillar of Eswatini's financial sector for over six decades, primarily focused on mortgage financing.

Technical Implementation and Features

The eMACH.ai Treasury solution represents a fundamental shift from spreadsheet-based tracking to a sophisticated, multi-asset strategy. Key features and achievements include:

  • 100% automation across FX, Money Market (Call/Notice/Fixed), and Fixed Income Securities (FIS)
  • 90% reduction in manual intervention through automated SWIFT messaging (MT320, MT202, MT210)
  • Advanced "Call/Notice" module that allows SBS to capture higher returns while maintaining intraday liquidity
  • Unique "Send-Back" workflow and dynamic interest splitting ensuring 100% precision and auditability for mid-period rate and balance changes

Implementation Approach

The project was characterized by a high-velocity UAT cycle delivered via an offshore support model. Intellect deployed onsite support to Mbabane to provide hyper-care during the launch phase for seamless transition.

Management Commentary

Jerome Msibi, Chief Financial Officer at SBS: "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."

Rajesh Saxena, Chief Executive Officer of Intellect Consumer Banking: "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."

About the Companies

Swaziland Building Society (SBS): Established in 1962, SBS is a leading provider of mortgage financing and financial services in Eswatini. In 2025, it began its transition to SBS Bank Eswatini (SBSE) to offer a full suite of commercial banking products.

Intellect Design Arena Ltd: A global leader in AI-First, enterprise-grade financial technology with three decades of domain expertise. Serves over 500+ customers across 62 countries with platforms including eMACH.ai, Purple Fabric, and iTurmeric.