Intellect’s Global Central and Consumer Banking group partners with VMware’s Tanzu cloud services to drive cost efficiencies, ensure faster go-lives and provide an enhanced banking experience to their customers.
Chennai (India), 01 Aug, 2022: Intellect Global Consumer Banking (iGCB), ranked #1 in the world for RetailBanking by IBS Intelligence, announced a strategic partnership with VMware to acceleratethe shift to digitalfor financial institutions across the globe. iGCB’s state-of-the-art platforms are built as comprehensive andcontextual fully integrated digital banking solutions for Central, Retail and Corporate banks. It is built ona cloud native and micro-services-based architecture empowering banks to move from fragmented digitalactivities to a reimagined (holistic) modernization strategy. The partnership and establishment of a Cloud Center of Excellence (CCOE), is a joint vision by iGCB and VMware to make cloud-based services more accessible and quicker for banks to drive their digital transformation.
The CCOE will aim to powerproduct assurance, certifications and customer specific proof of concept (POC) for iGCB’s product suite on VMware Tanzu cloud infrastructure. Financial institutions with an innovative mindset will be able to envision their digital transformation journey with solutions that support missioncritical infrastructure and new technologies, thus reducing the overall cost of transition and increasing business agility.
The collaboration seeks to unlock the opportunities that VMware’s cloudsolutions provide, and enablesiGCB to enhance and redefine customer experience through:
- A state-of-the-art scalable architecture that caters to the growing needs of the bank – users, transactions, volumes and product-portfolio growth.
- Flexibility in deployment of changes and features with the least downtime of the system and ensuring high availability in the private cloud model
- Resource optimization, an inherent advantage of elasticity with proven tools of VMware stack
The formidable partnership has been chosen by the Reserve Bank of India, one of the largest and most complex central banks in the world, to power the next stage of their digital transformation agenda. The central bank will be implementing the upgraded version of the award-winning Intellect Quantum Central Banking solution which will be hosted on VMware Tanzu cloud. Benchmarked to support over 100 million transactions and 30+ million ISO20022 payment messages on a peak day, the platform will support 250+ commercial banks, 35 state government and union territories along with a number of Central Government ministries.
Expressing his excitement on this partnership, Rajesh Saxena, Chief Executive Officer, said, “The CCOE collaboration reinforces iGCB and VMware’sshared commitment to providing banks with their ideal path to cloud adoption. The partnership will assist clients across the globe in adopting the cloud for mission-critical banking services and also help them create differentiated customer experiences, accelerate time to value, and drive rapid innovation while reducing costs”.
Commenting on the partnership, Pradeep Nair, Vice President and Managing Director, VMware India said, “We’re delighted to partner with Intellect GCB and establish the Cloud Centre of Excellence. As Intellect GCB’s customers look to rapidly enhance their digital capabilities in a multi-cloud world, the Centre of Excellence will help them mitigate risk, ensure compliance, and reduce time to market. We’re already seeing customer validation of our partnership, and iGCB’s choice of VMware Tanzu reaffirms our position as the industry-leading modern application platform”.
About VMware
VMware is a leading provider of multi-cloud services for all apps, enabling digital innovation with enterprise control. As a trusted foundation to accelerate innovation, VMware software gives businesses the flexibility and choice they need to build the future. Headquartered in Palo Alto, California, VMware is committed to building a better future through the company’s 2030 Agenda. For more information, please visit http://www.vmware.com/company.
About Intellect Design Arena Limited
Intellect Design Arena Ltd. has the world’s largest cloud-native, API led micro services-based multi-product FinTech platform for the Global leaders in Banking, Insurance and Capital Markets. It offers a full spectrum of banking and insurance technology products through its four lines of businesses – Global Consumer Banking, Global Transaction Banking, Risk, Treasury and Markets, and Insurance. With over 30 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
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 centre 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, 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.
| For Media related info, please contact:
Nachu Nagappan Intellect Design Arena Ltd Mob: +91 89396 19676 |
For Investor related info, please contact:
Praveen Malik Intellect Design Arena Limited Mob: +91 89397 82837 |