Intellect launches digital tech suite for cooperative banks

Cloud-native fintech company Intellect Design Arena launched a digital technology suite called the Intellect Digital Core (IDC) customized for Cooperative banks on Wednesday, enabling digital transformation and incorporating modern technologies to meet customer demands. 

Designed with eMACH.ai, an open finance platform from Intellect, the solution meets customers' evolving needs in tier-2 and tier-3 cities. It can help banks streamline their work through smooth cash management; loan disbursal management; seamless access to account information, loan details, deposits, and queries, with integrations to services such as BBPS and IMPS; simplify trade-related transactions and streamline bill management; secure login experience through two-factor authentication and Identity Access Management and secure interbank transactions, contributing to the overall stability and security of banking operations. 

Besides, some salient features of IDC include Open banking business model enabled by APIs providing a banking service that matches the user experience; BaaS (Banking-as-a-Service) offering; a comprehensive solution that includes all major modules, a complete and fully functional experience. With the cloud's virtually limitless resources banks can significantly improve their scalability, security, and operational efficiency. 

Ramanan SV, CEO-India & South Asia, Intellect Design Arena, said, “Being made in India, we understand the patterns of the Indian market and the evolving demands and expectations of customers in Tier 2 & 3 cities. The technology is composed with the ‘First Principles’ Technology Suite eMACH.ai, enabling the banks to become Digital Enterprise, thereby driving exponential growth.” 

“With Industry-ready integrations available, banks can enjoy plug-and-play functionality to get started quickly and focus on what really matters - growing the business. Intellect Digital Core also supports a wide range of regional languages, ensuring the message is accurately conveyed to the target audience,” he added.