Chennai (India), April 13, 2017:
Intellect Design Arena Ltd a digital financial technology product provider for the banking and insurance, today announced that it has been acknowledged as a ‘Global Pursuer’ for new named deals and a ‘Global Player’ for combined deals in the Global Banking Platform Deals Survey 2017 by Forrester Research, Inc. Intellect is recognized in the global categories for their counted banking platform deals this year by Forrester Research Inc.
Forrester surveyed 29 participating technology vendors of globally and regionally deployed banking platforms about their 2016 deals in the April 2017 report subtitled ‘Banks start investing in True Digital Banking, investment patterns broaden, and the market continues to consolidate’. The report analyzed the functional focal areas of the deals and shows which vendors were able to enhance their market footprint.
The 2017 survey report revealed differing levels of vendor success in terms of the ability to expand their market footprint by attracting new customers i.e. new named deals and the ability to continue creating value for their customers i.e. combined deals. Forrester sorted the participating vendors into the five levels of global vendor pyramid for new named deals and for combined deals. Intellect has been positioned as a “Global Pursuer” with 23 New Named deals in more than three regions. Additionally, Intellect has also been positioned as a “Global Player” with 46 Deals in more than three regions in the Combined Deals category.
Commenting on the recognition, Arun Jain, Chairman & Managing Director, Intellect Design Arena Limited said, “As financial institutions are grappling with the challenges of increasing revenue on one hand, and cost reduction on the other, Digital provides new solutions to address these challenges. Intellect’s True Digital 360 degree approach to Digital has gained good traction over the past year, amongst the financial institutions in advanced as well as emerging markets. We believe this recognition from Forrester vindicates our commitment to providing advanced digital experiences, powered by our customer centric design philosophy.”
Forrester reports that the Banks continue to invest in directly customer-facing capabilities. They continue to show more interest in functionality in areas such as channel solutions and customer data/party management. However, investment patterns have become more balanced, with transactional capabilities such as core banking again on the rise. It also reports that more banks are accepting the need for True Digital Banking to rebalance their transformation investments.
About Intellect Design Arena Limited:
Intellect Design Arena Ltd., a digital technology product solutions provider to the banking and insurance industry, across global consumer banking (iGCB), central banking, global transaction banking (iGTB), risk, treasury & markets (iRTM), and insurance (Intellect SEEC). 8012 FinTech Design Center for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformations. With over 200 implementations, the company’s performance is driven by over 4,000 Intellect solution architects, function and technology experts, with a presence in global financial hubs around the world and supported by design centers. Please visit http://www.intellectdesign.com/
Intellect Design Arena Limited is proposing, subject to receipt of requisite approvals, market conditions and other considerations, to make an rights issue of its equity shares and has filed a Draft Letter of Offer (DLOF) with the Securities and Exchange Board of India. The Draft Letter of Offer is available on the website of the SEBI at www.sebi.gov.in as well as on the website of the Lead Manager at www.sparkcapital.in Investors should note that investment in equity shares involves a high degree of risk and for details relating to the same, see the section entitled ‘Risk Factors’ of the LOF, when available. Potential investors should not rely on the DLOF for any investment decision.
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