Intellect Design Arena Ltd, a specialist in applying true Digital Technologies and a global leader in Financial Technology across Banking and Insurance, announced the launch of Intellect Wealth Qube - 2020, a state of the art end-to-end Relationship Manager centric solution for the wealth management institutions. Built on a design framework of 6 Offices, 22 Desks and 121 Tools, the product was unveiled at the Intellect User Meet, held in Dubai.
With the theme of 'Banking on Re-imagination', Intellect User Meet 2019, showcased some of the most recent advancements in Banking - such as Contextual Banking, Open Banking driven by an API led architecture and Leveraging AI/ML in Financial Ecosystems. The forum also served to launch new products from the Intellect stable including the wealth management product, Wealth Qube 2020.
Wealth Qube 2020, is an enterprise grade wealth management solution compromising of 6 Offices, 22 desks and 121 tools. Unlike other wealth solutions, Wealth Qube - 2020 has taken the RM-first design approach. Intellect recognizes that in a highly emotive business such as wealth, relationship managers are integral to the growth of the business and the industry. With increasing affluence the Relationship managers are under pressure to go beyond the traditional HNW customer base and serve the mass affluent segment. Being a high touch business relationship managers are struggling to serve the large number of customers in this space. Wealth Qube - 2020 has been designed to help businesses serve the ever growing mass affluent segment as well as the High net worth individuals.
The word Qube was chosen to reflect the solidity and completeness of a cube. Each side of the cube represents 1 of the 6 offices of the Wealth Qube 2020 offering. The six offices that form part of Wealth Qube 2020 are Relationship manager office; Customer personal office; Operations office; Risk and compliance office; Fund Managers office and Trust Office. These 6 offices are further divided into 22 desks and each desk is provided by tools with the complete tool set count at 121 tools. Wealth Qube follows the Intellect tradition of ensuring that its solution is Enterprise grade and capable of serving endto-end needs of its customers.
Jaideep Billa, President, Wealth Management, Intellect Design Arena said, "Wealth Qube-2020 gets its 2020 moniker from its promise to deliver 20% growth every year with 20% reduction in Business operating costs. This solution has already been well tested out in the market with our early launch customers in 6 countries namely Singapore, Malaysia, Thailand, India, UAE and Saudi Arabia. We now hope to deliver the same advantage of these early movers to other institutions. With rapidly growing prosperity across the world and anemic interest rates we believe that Wealth will be the fastest growing business for banks and financial institutions. We are excited to work with our customers to help create leaders in wealth."
Shares of Intellect Design Arena Ltd was last trading in BSE at Rs.203.5 as compared to the previous close of Rs. 200.55. The total number of shares traded during the day was 26179 in over 640 trades.
The stock hit an intraday high of Rs. 206.4 and intraday low of 200.05. The net turnover during the day was Rs. 5297929.