This launch will redefine banks’ operations with a competitive edge to grow exponentially and further the Digital India goal
FinTech BizNews Service
Mumbai, 22 May, 2024: Intellect Design Arena Ltd, a cloud-native, future-ready, multi-product Financial Technology company for the world’s leading banking and insurance clients, announces the launch of the Intellect Digital Core for Cooperative Banks in India. This comprehensive, enterprise-grade banking technology solution is composed of eMACH.ai, the world’s largest open finance platform engineered by the ‘First Principles’ Thinking for financial institutions to design future-ready technology solutions. Drawing on the composable and contextual core banking technology that runs some of the world’s largest banks, Intellect brings the same expertise for cooperative banks as a Digital India initiative.
With three decades of domain expertise and ‘Design Thinking’ at our core, we have launched Intellect Digital Core, tailored for Cooperative Banks.
Keeping Customer at the Center:
In the contemporary banking landscape, customers' expectations have evolved, and they now demand digital front-end layers from the banks they engage with. This includes the ability to perform UPI transactions and leverage Internet banking services. It is imperative for cooperative banks to cater to the aspirations of the younger generation of customers by providing these value-added services.
Intellect Digital Core for Cooperative Banks enables them to embrace digital transformation and incorporate modern technologies to meet evolving customer demands and stay competitive. The enterprise-grade banking technology solution meets customers' evolving needs in tier-2 and tier-3 cities.
Intellect Digital Core has been designed specifically with co-operative banks in mind that will meet their distinctive requirements and offer a personalized experience that caters to unique needs. It has an open banking business model enabled by APIs providing a banking service that matches the user experience of success stories. The core also brings the latest in financial technology with BaaS (Banking as a Service) which can transform the way finances are managed. It’s bank-in-a-box architecture with a cooperative avatar is designed to create a more engaging and interactive banking experience for customers while also improving efficiency and reducing costs for the bank. The Digital Core is a comprehensive and standard solution that includes all major modules, ensuring a complete and fully functional experience. With this core, banks can significantly improve their scalability, security, and operational efficiency with the cloud's virtually limitless resources, allowing seamless future scalability and upgrades. The ARX Security Solutions offers robust two-factor authentication to ensure a secure login administration.
Commenting on the launch, Ramanan SV, CEO-India & South Asia, Intellect Design Arena, said, “We are excited to bring Intellect Digital Core to revolutionise the way Cooperative Banks operate in India. Being made in India, we understand the patterns of the Indian market and the evolving demands and expectations of customers in Tier 2&3 cities. The technology is built on the ‘First Principles’ Technology Solution eMACH.ai, enabling the banks to become Digital Enterprise, thereby driving exponential growth. With a legacy spanning three decades and guided by an institutionalised Design Thinking approach, Intellect continues to reinforce its technology leadership in the financial technology space - this product specifically designed for Cooperative Banks is testimony to that.”
“With Industry-ready integrations available, banks can enjoy plug-and-play functionality to get started quickly and focus on what really matters - growing the business. Intellect Digital Core also supports a wide range of regional languages, ensuring the message is accurately conveyed to the target audience,” he added.
