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Intellect Revolutionary Contextual Banking Technology ranked #1 in the world for both Retail Banking and Transaction Banking by IBS

Posted On: 2020-06-29 12:38:59


Intellect Design Arena Ltd, the specialist in applying true Digital Technologies and a global leader in Financial Technology across Banking and Insurance, has achieved a remarkable double first: it has been ranked #1 in the world for Retail Banking and ranked #1 in the world for Wholesale Banking - Transaction Banking by the highly respected, independent analyst IBS Intelligence, in their IBS Annual Sales League Table 2020.

IBS Intelligence is the definitive source of independent news, analysis & research relating to global financial technology markets.

Commenting on Intellect's performance, the SLT Panel at IBS Intelligence said, "Two systems of Intellect Design Arena - Intellect Digital Core and Digital Transaction Banking have recorded their leadership position in the IBS Intelligence Sales League Table 2020. IDA solutions have been ranked #1 - for the second time in a row in the Retail Banking category, and have also been placed in the #1 spot in the Wholesale Banking - Transaction Banking category. The IBSI Sales League Table 2020 has been analysed based on systems purchases made by over 1,700 banks in over 150 countries, across 240 products from 62 suppliers across the Americas, Europe, Middle East, Africa and APAC."

Intellect Global Consumer Banking (iGCB), the retail banking arm of Intellect, retained its #1 Global Leadership position in retail banking for the second time in a row. iGCB offers an end-to-end Contextual Banking suite for retail banking across Core, Lending, Cards, Wealth and Central Banking. iGCB breaks the one-shoe-fits-all paradigm and brings flexibility to how banks drive digital transformation. Whether the strategy is channel-led, product-led, middleware-led or even segment-led (think challenger banks), iGCB can make it happen in a 'Progile' - progressive + agile - manner. This unique infusion of integrated functionality and agility is made possible by our microservices-based, API-first, cloud-native architecture with powerful Olive Fabric capabilities.

iGTB, the world's first complete Global Transaction Banking arm of Intellect, has been ranked #1 as the best-selling wholesale banking - transaction banking system and joins the leadership club, validating its revolutionary #ContextualBanking innovation and a rich suite of transaction banking products. With 23% of the world's MNC cross-border sweeps and over 50% of IMEA corporate collections going through iGTB systems, already proven capable of processing over one million domestic/international payments per hour in live use, this ranking underlines why so many of the world's best corporate banks, bank on iGTB.

Intellect was also ranked in the top three best-selling solutions for Digital Banking and Channels, and also the top three best-selling solutions for Lending Systems.

Commenting on the ranking, Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, "This is a remarkable validation of Intellect's Best-in-Class Integrated Digital Banking Platform with Front to Back Capabilities across Retail and Corporate segments by IBS in the Sales League Table. The commendation also validates our microservices-based, API-first and cloud-ready architecture. Even our modular solutions across lending and channels are in the top 3, thanks to their comprehensive functionality and independent utility. This vindicates our pioneering use of #ContextualBanking based on Design Thinking principles - the concept that your banking systems should understand - even anticipate - what the client is trying to do. We are humbled by the recognition and thank our clients for entrusting the very core of their business functionality with us."

Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.109.3 as compared to the previous close of Rs. 104.1. The total number of shares traded during the day was 21722 in over 769 trades.

The stock hit an intraday high of Rs. 109.3 and intraday low of 101. The net turnover during the day was Rs. 2336946.


Source: Equity Bulls

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