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Chennai, India, January 21, 2015:

Growth of economy to be tepid in next 5 years

IT companies in India have started to inculcate "design thinking" practices in their employees. While Infosys trained close to 9,000 employees in the concept last quarter, Polaris group company Intellect started its monthly design talks lecture series from the beginning of this year to evangelise the concept among associates.

Design thinking is a concept propagated by Tim Brown, president and chief executive officer of the design firm IDEO. In his words, it is described as a discipline that uses the designer's sensibility and methods to match people's needs with what is technologically feasible and what a viable business strategy can convert into customer value and market opportunity. It is a human-centered approach to innovation that draws from the designer's toolkit to integrate the need of people, the possibilities of technology and the requirements for business success.

"Thinking like a designer can transform the way organisations develop products, services, processes, and strategy. This approach, which IDEO calls design thinking, brings together what is desirable from a human point of view with what is technologically feasible and economically viable. It also allows people who aren't trained as designers to use creative tools to address a vast range of challenges," he adds.

In order to train employees in the concept and state its applications in not only corporate organisations but also in everyday life, Intellect Design Arena started its 8012 Design Talks on January 5, 2015. The talks would be a series of monthly interactive sessions and demonstrations with leading innovators who apply design thinking in their respective fields to effect change in their areas of work, said Rajesh Kuppuswamy, chief design officer at Intellect. The series will have speakers from various walks of life speaking on how they have understood industry requirements, observed and clustered patterns, connecting dots and unearthing blind spots. The first speaker for the series was Jayanti Ravi, commissioner – higher education at the government of Gujarat.

IT major Infosys on the other hand has started to train employees and clients on the concept. Its chief executive officer Vishal Sikka said during the company's Q3 results: "We have covered over 9,000 employees across the company with design thinking training more than 400 of these are at senior levels. We have gone further and got our clients to embrace design thinking concepts. We currently have a pipeline of workshops for over 25 clients planned."

Several others including SAP have partnered with universities and colleges to sensitise employees about the concept to create products that meet client requirements and break away from the mould of "innovation for innovation's sake."

About Intellect Design Arena Ltd.

Intellect Design Arena Ltd, a Polaris Group company, is the world’s first full-spectrum banking products company with rich Intellectual Property developed over 25 years of deep banking domain experience, and the FT 8012 Design Centre, the world’s first design centre for financial technologies. Intellect’s products are built on the iDigital Platform with a range of products across :

  • Global Consumer Banking (iGCB) : Core Banking; Loan Servicing; Debt Management; Loan Origination; Collateral & Limit Management; Wealth; Financial Advisor; Cards; Omnichannel; Payments
  • Risk & Treasury Management (iRTM) : One Treasury; Basel III with Zf Risk Visualisation; Brokerage; Mutual Fund Exchange; Custody
  • Global Transaction Banking (iGTB) : Corporate Banking Exchange; Customer Onboarding; Payments Services Hub; Receivables Management; Cash Management; Liquidity Management; Funds Control; Trade Finance; Supply Chain Finance; Treasury
  • Insurance (intellectSEEC) : Distribution(Agent Workspace; Service & Distribution Exchange; Customer Distribution Exchange); Underwriting (Underwriting Workstation); Claims (Claims; Life Claims in the Cloud); Business Apps (Needs Analysis; Quote; e-App; Product Configurator); Business Component Software ( Business Component)

The Intellect iDigital Platform and suite of specialist products addresses the needs of financial institutions in varying stages of technology adoption and intelligent integration of legacy systems. And enables progressive digital transformation of banks for ever greater operational efficiencies, while being relevant and available across all forms of engagement: whether mobile, tablets or laptops. At the heart of this digital transformation that Intellect enables are the Operations Hubs for banking processes, and the Apps Vault for customer engagement and experience.

Intellect generates annual revenues of over Rs.550 Crore from product installations in 30 countries across 200 customers. The company’s performance is driven by over 3,000 Intellect solution architects, domain and technology experts, with a presence in major global financial hubs around the world. For further information on the organization and its solutions, please visit www.intellectdesign.com

 
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