The bank would leverage iGCB’s eMACH.ai based core banking platform IDC to power its mission to become one of the top banks in Asia Pacific by 2030
Hanoi, Vietnam, January 02, 2024 – Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, recently announced that one of the top 5 banks in Vietnam has renewed its license for iGCB’s Core Banking offering, Intellect Digital Core (IDC) to modernise its banking operations. The bank will leverage iGCB’s recently upgraded core banking platform IDC, the world’s largest Open Finance based core banking platform to launch innovative offerings and improve efficiency.
Today, the bank serves more than 5 million individual and corporate customers and manages assets of over USD 24 billion. Powered by eMACH.ai (Events driven, Microservices-based, API, Cloud, Headless with underlying AI models), IDC will enable them to launch innovative products across current and savings accounts, deposits, payments, lending, treasury and trade finance to cater to their customers’ ever-evolving banking requirements.
Post the transformation, the bank intends to:
- Elevate customer experience through relationship-based pricing, contextual product cross-sell and upsell recommendations
- Launch new products in days rather than months, by leveraging the composable architecture and IDC’s unique UI-based product configurator solution.
- Process high volumes of International and domestic payments in real time
- Offer fully digital end-to-end loan management and comprehensive NPA management
- Remove information silos, provide instant analytics and reports to bank employees through customer 360 and CXO cockpit
Mr. Rajesh Saxena, CEO, Global Consumer Banking (iGCB), Intellect Design Arena, says: “We are honoured to be selected by the bank for their core banking transformation, yet again. We have significantly invested in understanding the bank’s Business needs, technology, strategic goals and culture. We are confident that IDC based on the composable eMACH.ai architecture will empower the bank to design their own solution that seamlessly integrates with the current infrastructure, as they aim to become number 1 in the region. We thank the bank for the opportunity and we are committed to achieving the Bank’s aspirations.”
About Intellect Global Consumer Banking (iGCB)
iGCB, the Retail and Central Banking Solutions arm of Intellect, offers an end-to-end Contextual Banking suite for retail and corporate banking across Core Banking, Lending, Cards, Digital Banking, and Central Banking. Its unique blend of integrated functionality and agility is made possible by its Microservices-based, API-first, cloud-native architecture with powerful integration capabilities. iGCB brings to the table a deep knowledge of the developed and developing financial market space and seeks to be the Innovation Partner for those who are passionate about transforming the future of fintech!
www.igcb.com
About Intellect Design Arena
Intellect Design Arena Ltd. has the world’s largest cloud-native, API-led microservices-based multi-product platform for Global leaders in Banking, Insurance, and Capital Markets. eMACH.ai, the most comprehensive open finance platform is at the forefront of the BankTech Wave 5, a significant phenomenon that enables banks and financial institutions to move from product and process to design and experience to compose their unique “My Signature Solution”. With over three decades of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives. It offers a full spectrum of banking and insurance technology products through its three lines of businesses i.e. Intellect Global Consumer Banking (iGCB), Intellect Global Transaction Banking (iGTB), and Intellect AI.
Intellect pioneered Design Thinking to create cutting-edge products and solutions for banking and insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. Intellect serves over 270 customers through offices in 57 countries and with a diverse workforce of solution architects, and domain and technology experts in major global financial hubs around the world. For further information on the organisation and its solutions, please visit www.intellectdesign.com
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