Oct 31: Intellect Design Arena Ltd, a full spectrum banking and insurance technology product maker for the digital age, announced the global launch of its complete end-to-end digital core banking solution, IDC 17.1.
According to the company, IDC 17.1 leverages contemporary technologies such as artificial intelligence, machine learning and BOTS to drive Digital 360, real time and contextual banking. IDC 17.1 is powered by a real time GL that enables critical decisions in real time, whether it is payments or risk management.
Arun Jain, Chairman and Managing Director, Intellect Design Arena, said, “the bank’ customers are so used to the experiences from an Amazon or YouTube platforms that it is quite natural to expect similar experiences on their banking platform. There are two major stumbling blocks due to which banks struggle to give such personalized and frictionless experiences. One stumbling block is around fragmentation of technology. The second is around fragmentation of products. This is the paradigm we cracked with a revolutionary design. IDC 17.1 will enable banks to present a unified digital face across products such as core, credit cards, lending and wealth. It will also enable a delightful and seamless experience across devices such as laptop, iPad, mobile with thoughtful functionalities such as save and resume across devices.”
Based in Chennai, Intellect Design Arena Ltd is engaged in the business of financial technology for banking, insurance and other financial services verticals. The $100-million company is a product developer and a start-up approach-based business model with the maturity of an established specialist in designing advanced technology products for global financial platforms.
The company specializes in developing customer-focused products on a digital platform across Global Consumer Banking (GCB), Central Banking, Risk and Treasury Management (RTM), Global Transaction Banking (iGTB) and Insurance (Intellect SEEC).
Shares of the company surged more than 5% to touch a new one month-high of Rs 142 intraday today on BSE after the news came in. At 2.58 pm, the Rs 5 face value shares were trading at Rs 140.50, up 4.15% from the previous closing of Rs 134.90.