IntellectAI’s eMACH.ai Custody Edge Platform Redefines Custodial Service with Composable Architecture, Empowering Banks to Excel Amidst Shifting Market Dynamics and Regulatory Landscape
Chennai, November 09, 2023: In a significant milestone that underscores the transformative potential of generative AI technology in the banking industry, one of India’s Top Bank in market capitalisation, has joined forces with IntellectAI, the WealthTech and InsurTech arm of Intellect Design Arena Ltd. The bank has chosen IntellectAI’s eMACH.ai Custody Edge platform, marking a pivotal moment in harnessing the power of the cognitive enterprise to reshape the landscape of custodial services in India.
Establishing our leadership in the Indian custodial service, the Custody Edge platform, empowered by the cognitive capabilities of eMACH.ai, boasts a composable, meticulously crafted architecture. It addresses the dynamic challenges inherent in the banking industry, from navigating short market cycles to adapting to evolving regulatory frameworks, managing surging transaction volumes, and capitalizing on burgeoning business prospects. This strategic partnership vividly manifests the bank’s unwavering commitment to utilizing technology for profound AI-driven transformation in the financial sector.
Custody Edge offers over 100 functionalities that meticulously align with Indian regulations and requirements. The platform serves as a testament to our commitment to adopting generative AI technology. It is built on iTurmeric, a cloud-native, API-led enterprise solution that harnesses the MACH-composable architecture. Moreover, it is equipped with a comprehensive suite of 125 APIs, empowering banks to establish seamless connectivity and elevate the overall customer experience. The platform’s remarkable scalability and agility enable swift adaptation to upcoming regulatory changes and accommodate the growing transaction volumes.
Commenting on the strategic partnership, Ramanan SV, CEO of India and South Asia, Intellect Design Arena, said, “Custodians worldwide are primarily focused on addressing the growing demand for service delivery spanning various markets, regions, and financial instruments. This has contributed to the growing complexity of their product portfolios and strategic investment strategies. With the implementation of Intellect eMACH.ai Custody Edge platform, we empower leading banks in India to capitalise on their existing technology investments through robust, tool-based interfaces, thereby transforming their custodial operations. Furthermore, as a leader in custodian services in India, our unwavering commitment to delivering innovative solutions not only addresses their specific needs but also positions them for success in the era of Cognitive Enterprise Wave. We are immensely honored to have earned the trust of one of the top banks in India, solidifying our standing as a custodial services leader in the region.”
About Intellect Design Arena Limited
Intellect Design Arena Ltd. has the world’s largest cloud-native, API-led microservices-based multi-product platform for Global leaders in Banking, Wealth management, Insurance, and Capital Markets. 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 – IntellectAI, Intellect Global Consumer Banking (iGCB), and Intellect Global Transaction Banking (iGTB).
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.
About IntellectAI
IntellectAI offers a suite of contemporary artificial intelligence products and data insights triangulated from thousands of sources that take a strategic approach to tackling the biggest challenges for the wealth and insurance industries. Our underlying technology powers sophistication with simplicity, ensuring an engaging and insightful user journey.
Our AI cloud-native products are known to address the most complex business objectives with the highest accuracy of outcome. Our skilled technical experts and data scientists seamlessly augment our customer teams to accelerate their transformation journey, easily adapting as business models and technology evolve. www.intellectai.com
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