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Awards and Accolades

Our products and technologies are among the best in the market with dozens of industry recognition and accolades to our merit.

Intellect in the limelight!

The story of Intellect Design Arena began in 2003 with the launch of the ‘Intellect’ suite of products. With over a decade of significant research and development investment, the Intellect suite is the largest in the industry, across Global Transaction Banking, Global Consumer Banking, Risk, Treasury & Capital Markets and Insurance.

With over 200 installed bases, Intellect has earned for itself numerous awards and analyst accolades. This page showcases some of the major accolades the organisation has received over the years.

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Intellect has won laurels by the world’s most acclaimed analysts.

Intellect ranked #1 in 3 Categories of Financial Sector: Retail Banking, Transaction Banking and InsurTech by Global IBSI Sales League Table 2021

Intellect retains its position in IBSI Leadership Club with its #1 ranking in Retail Banking for the third consecutive year, #1 ranking in Transaction Banking for the second consecutive year and #1 in InsurTech in the inaugural edition.

London (UK), June 5, 2021: Intellect Design Arena Ltd, a cloud-native, future-ready, new-gen multi-product FinTech company for the world’s leading financial and insurance institutions, has achieved a remarkable triple win by the UK-based independent analyst, IBS Intelligence. Intellect has been ranked #1 in the world for the Retail Banking, Wholesale Banking – Transaction Banking and InsurTech categories in the IBS Annual Sales League Table 2021.

IBS Intelligence’s Annual Sales League Table is a widely-accepted industry benchmark for the performance of global banking technology solutions. The SLT has been running for over 20 years and recognised as a barometer for financial technology supplier sales performance across the banking industry. COVID-19 and its aftermath, has made this year’s SLT more significant. The IBSI SLT 2021 includes systems purchases made by over 1000+ banks across 180+ products from 60 suppliers across the Americas, Europe, Middle East, Africa, APAC and ASEAN. The number of deals evaluated this year was 2000+, reported across 150 countries globally.

Intellect Global Consumer Banking (iGCB), the retail banking arm of Intellect, has retained its #1 Global Leadership position in Retail Banking for the third year in a rowin a highly competitive segment. iGCB offers end-to-end Contextual and Composable Banking suite for retail and corporate banking across Core, Lending, Cards, Wealth and Central Banking. Its unique blend of integrated functionality and agility is made possible by its microservices-based, API-first and cloud-native architecture.

Intellect Global Transaction Banking (iGTB),the world’s first complete Global Transaction Banking platform, retains its #1 Global Leadership position in Transaction Bankingin a highly competitive segment. iGTB spearheads the consumerisation of corporate banking, through contextual, composable hyper scale technology. Covering over 90 countries, pooling over $35 trillion balances per year and with a rich suite of transaction banking platforms covering all Transaction Banking needs (Digital, Payments, Cash, Collections, Remittances, Virtual Accounts, Liquidity, Trade and Supply Chain and more), iGTB with its associated iGTB Oxford School of Transaction Banking is an authority on integrated products that enable banks to meet their ambition to be Principal Banker to their corporate customers.

Intellect SEEC leads the IBS SLT 2021 inaugural InsurTech categoryin a highly competitive segment. It is an insurtech transformation partner with contemporary AI and ML solutions, data insights triangulated from thousands of sources and agile technology, data science and consulting teams – taking a strategic approach to tackling the biggest challenges for insurance. Intellect SEEC is a proven leader in Data First Strategy for Commercial Underwriting and has successfully driven one of Europe’s largest transformations in Wealth Management.

With the far-reaching impact of the COVID-19 pandemic, the IBSI Sales League Table 2021 Rankings serve as a reckoner to identify fintech companies that have carved a global niche built on a strong foundation. The need of the hour is to find innovative ways to respond to changing market demands, and accelerate the digital transformation journey of enterprises. Intellect is designed to do just that – provide security, innovation, and speed-to-market that empowers organisations to transform from the core, become responsive, and resilient.

Commenting on Intellect’s performance, Robin Amlôt, Managing Editor at IBS Intelligence said, “We applaud Intellect Design Arena’s remarkable hattrick in ranking #1 in three categories. This achievement highlights the company’s performance in what has been an especially challenging time, showcasing its resilience in this pandemic-hit year.”

Expressing his views on emerging as a leader, Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “We are proud to be ranked #1 in Retail Banking for three consecutive years, Transaction Banking for two consecutive years and of leading the inaugural InsurTech category, and of being invited to join the leadership club in IBS SLT 2021.This is a remarkable validation for us, proving how our customers rely on ourproducts and reaffirming their faith in Intellect’s Next-Gen Fintech architecture. Our rapid move towards open finance architecture provides the ability forour customers to adopt a flexible, composable and contextual product design strategy. This technology upgrade path is winning in many markets. I would like to thank our customers and associates for their confidence in us and being part of our journey.”

Not only has this year’s SLT recognised Intellect’s sales excellence, but it is also a true reflection of the company’s success and resilience in this pandemic-hit year. Additionally, Intellect is also being rated to be part of the newly-constituted IBSI Leader board for Transaction Banking, Retail Banking – Core, Digital Banking, Private Banking & Wealth Management, Lending, Payments and Risk & Compliance for the consistent performance over the last 5 years.

About Intellect Design Arena Limited

Intellect Design Arena Ltd. has the world’s largest cloud-native, API led microservices-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 (iGTB), Risk, Treasury and Markets, and Insurance. With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for their 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 center for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. Intellect serves over 240 customers through offices in 97 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.

About IBS Intelligence

Established in 1991, UK-headquartered IBS Intelligence is the leading global pure play Financial Technology research, news analysis, and advisory firm. IBSI’s Sales League Table is considered the global industry barometer ranking leading banking technology suppliers. Its research reports comprehensively cover global suppliers across all Banking Technology & Financial Technology systems, and are also distributed by Thomson Reuters, Bloomberg and S&P Capital IQ.

IBSI’s Innovation Lab at Dubai brings banks and suppliers together with an opportunity to access the Middle East market and to test and experience global Financial Technology products within the region. The group company, Cedar, is a global management consulting firm with deep expertise in formulating and executing business strategy for financial services clients worldwide with a significant focus on leading their technology and digital transformation.

MF Utilities, India Wins Aite Group’s 2020 Innovation in Capital Markets Award for Digital Experience

Chennai (India), April 29, 2021

Aite Group recognised MF Utilities and its vendor Intellect for leveraging best-in-class technology in the capital markets and empowering the Mutual Funds industry in India

Chennai (India), 29th April, 2021: Intellect Design Arena Limited, a specialist in applying true Digital Technologies across Banking & Insurance, congratulates their esteemed client, MF Utilities India (MFUI) on winning Aite Group’s, “Innovation in Capital Markets Award for Digital Experience, 2020” award. Intellect’s Capital Sigma Fund Distribution solution was implemented by MFUI, enabling them to roll out the MFU system that brought about a digital transformation of the Mutual Fund industry in India.

In its first year, Aite awards program honored the innovative financial institutions that are introducing new products, capabilities, or levels of automation and effectiveness that bring the industry one step closer to next-generation capital markets.

MFUI is an innovative “Shared Services” initiative by the Mutual Fund industry under the aegis of Association of Mutual Funds in India (AMFI), that provides a middleware-MFU, a nation-wide transaction aggregation system, which simplifies the process of investing in multiple mutual fund schemes and enables investors, mutual fund distributors, registered investment advisors (RIAs), independent financial advisors (IFAs) and custodians to penetrate more market segments and offer a better quality of service to their customers by reducing operational complexity and turnaround time.

MFUI was initiated with the purpose of consolidating and streamlining the mutual fund investment process in India, makingits system, MFU, accessible to investors and distributors across far corners of the country. The scale and the impact of this digitalisation can be gauged by the fact that since its launch, 39 fund houses with over 2000 schemes representing 99% of the Indian MF industry’s AUM are using MFU System, aggregating daily average volume of USD 3 billion.

The entire process starting with investor on-boarding, transaction initiation, settlement through relevant registrar and transfer agents, payment routing and consolidated portfolio view across funds and schemes is managed by the system, through an omni-channel access to retail and corporate investors, as well as distributors. With connectivity to registrars and transfer agents, banks, asset management companies, payment gateways and know your customer (KYC) registration agencies it enables online transaction submission in multiple schemes across mutual funds through one common instruction and helps in standardisation of forms, processes and MIS across the industry. 

Expressing his pleasure on the award win, Mr. V Ramesh, MD and CEO, MFUI said, “We are extremely delighted to receive this prestigious award from Aite. From the time we started, our objective has been to use digital means and reach out to investors far and wide, while creating a single system for market entities like fund houses, investor advisors and payment banks to come together. We have been successful in bringing together all the players of the MF investment cycle on one unified platform and provide a seamless experience. This award strengthens our vision and encourages us to keep looking at further opportunities to better our offering.”

Thakur Vikas Sinha, Chief Executive Officer, Intellect Risk, Treasury & Capital Markets, Intellect Design Arena Limited said, “We congratulate the MFUI team on a well-deserved recognition. Setting up a mutual fund market place is true innovation at global level. We are sure that this will be a trend setter and other countries will adopt this too. We are proud to be a builder of this world class capital market infrastructure and it has been our privilege to partner with them, bringing abou a complete automation and overhaul of the complete mutual fund investment process. MFU has definitely been a game changer in the Indian mutual fund industry and we look forward to our continued collaboration”.

Yue Malan, Aite Group said, The rise of the Indian mutual fund market is set to continue with a growing economy and rising demands for efficiency, accuracy, and ease when it comes to of investing. The dynamic partnership between MFU and Intellect stands as a powerful example of how effective digital channel capabilities can bring about the widespread adoption of financial planning tools previously only accessible to the elite. The partnership also underlines the importance of collaboration and expertise in creating innovative solutions that lower barriers to participation, improve participant confidence, and set the stage for further growth”

About MF Utilities, India

Launched in 2015, MF Utility (MFU is an innovative “Shared Services” initiative by the Mutual Fund industry under the aegis of Association of Mutual Funds in India (AMFI), which acts as a “Transaction Aggregation Portal” through which a Mutual Fund customer is enabled to transact in multiple schemes across Mutual Funds using a single form/payment. MF Utility (MFU) is operated by MF Utilities India Pvt Ltd (MFUI) which is equally owned by the participating AMCs. 39 fund houses are currently on-boarded on MFU.

About Intellect Design Arena Ltd

Intellect Design Arena Ltd, a cloud-native, future ready multi-product fintech platform for the world’s leading financial & insurance clients caters to the full spectrum of banking and insurance technology products company, across Global Consumer Banking, Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets, and Insurance. With over 25 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 center for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect serves over 240 customers through offices in 91 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 organization and its solution, please visit www.intellectdesign.com

Novarica features Intellect SEEC’s Magic Submission – a hyper-automation AI data extraction platform among prominent providers of Intelligent Text Ingestion (ITI) tools

Piscataway, New Jersey, April 1, 2021

Intellect SEEC positioned in the Advanced Underwriting category with AI & ML playing a larger role

Piscataway, New Jersey, 01 April, 2021: Intellect SEEC, the insurance software division of Intellect Design Arena Ltd, announced that its Magic Submission, an IDX product, has been featured among prominent providers of Intelligent Text Ingestion (ITI) for Advanced Underwriting, in Novarica’s latest report, Intelligent Text Ingestion: Overview and Prominent Providers.

Novarica states that “Advanced underwriting tools have features and capabilities designed primarily for commercial insurance business submission and underwriting . ML and AI play a larger role in this suite of tools to expedite the underwriting process as well as to classify risks appropriately. “

Magic Submission , with purpose-built AI, the latest in a line of commercial underwriting products from Intellect SEEC, provides a unique opportunity for companies to increase productivity, efficiency and build operational resilience into their underwriting process. Magic Submission is a cognitive information extraction, validation and enrichment platform, which extracts contextually relevant information from bundles of unstructured, semi structured and structured sources using AI technologies including pipelines of computer vision, NLP, machine/deep learning and OCR. It can process over 500 document types in 87% less time and a 98% accuracy rate. Magic Submission further leverages Intellect’s 8000+ external sources to validate and enrich submission information with new insights, thus improving the data quality and enriching the risk data footprint of broker submissions.

As stated in the Novarica report, “ITI can transform manual processes through automation, provide quicker cycle times, improve accuracy and generate new insights.” The report continues that “as much as insurers would like to eliminate paper or paper images, some aspects of the business are still a long way from being fully digitized. ITI provides an opportunity to take advantage of fully digital processes without fully digital input. The technology landscape will continue to mature as carriers deploy more uses and as vendors continue to invest in their solutions.”

Commenting about Intellect SEEC, Deb Zawisza, VP, Research and Consulting from Novarica mentioned in the report that “Intellect SEEC’s newly introduced product is an in-take tool for document unbundling, extraction, validation, and enrichment of data from broker submitted bundles, including Excel documents such as statements of values, ACORD and custom forms, and others. It can be used with other tools within Intellect’s platform, such as Risk Analyst, which triangulates thousands of external data elements to offer intake validation and enrichment, proactive marketing, and predictive analytics for underwriting and Xponent, which is an underwriting workflow offering rate, quote, issue, endorse, and renew capabilities.”

 

“We are honored to be featured in this report from Novarica for Magic Submission. The sophistication lies in the simplicity of this AI solution to accelerate innovation in underwriting . Examples include immediate benefit realization in initiatives such as submission prioritization and quality with speed to bind,” said Banesh Prabhu, Intellect SEEC CEO. “Accolades like this from Novarica further validate how important AI in insurance is becoming for carriers. It illustrates the need for more uses of advanced technology to accelerate underwriting.”

 

About Novarica

Novarica helps more than 150 insurers make better decisions about technology projects and strategy through retained advisory services, published research, and strategy consulting. Its knowledge base covers trends, benchmarks, best practices, case studies, and vendor solutions. Leveraging the expertise of its senior team and of more than 400 CIO Research Council members, Novarica provides clients with the ability to make faster, better, more informed decisions. Its consulting services focus on vendor selection, custom benchmarking, project checkpoints, and IT strategy. More information at https://www.novarica.com/

About Intellect SEEC

Intellect SEEC is an exponential Insurtech company tackling the biggest challenges for insurance with contemporary technologies like Big Data, AI and ML. We are a proven leader in Data First Strategy for Commercial Insurance.

Our twin mission is to make insurance about the insured and to level the playing field for all insurers through technology. Insurance is complex, but the underlying technology has to be sophisticated to make it simple, engaging, insightful. Our aim is to deliver the world’s most agile, easy-to-deploy and future proof software, which adapts as business models of our customers, and insurance and technology evolve. To know more about the company, please visit https://intellectseec.com/

About Intellect Design Arena Limited

Intellect Design Arena Ltd. has the world’s largest cloud-native, API led microservices-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 (iGTB), Risk, Treasury and Markets, and Insurance. With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for their digital transformation initiatives. For further information on the organisation and its solutions, please visit www.intellectdesign.com.

iGTB ranked #1 Best Selling Wholesale Banking – Transaction Banking Solution in the world by IBS Intelligence in the Annual Sales League Table 2020

July 20, 2020

IBS Intelligence is the definitive source of independent news, analysis & research relating to global financial technology markets. The IBS report covers systems purchases made by over 1,700 banks across 240 products from 62 suppliers across the Americas, Europe, Middle East, Africa and APAC.

iGTB, the world’s first complete Global Transaction Banking arm of Intellect, has been ranked #1 as the best-selling wholesale banking – transaction banking system and joins the leadership club, validating its revolutionary #ContextualBanking innovation and a rich suite of transaction banking products. With 23% of the world’s MNC cross-border sweeps and over 50% of IMEA corporate collections going through iGTB systems, already proven capable of processing over one million domestic/international payments per hour in live use, this ranking underlines why so many of the world’s best corporate banks, bank on iGTB.

Commenting on the recognition, Manish Maakan, CEO, Intellect Global Transaction Banking (iGTB), Intellect Design Arena, said, “This recognition from the IBS is an important validation of our #1 commitment and strategy to deliver the best-in-class and the best-selling wholesale banking – transaction banking system. This tribute also validates our microservices-based, API-first and cloud-ready architecture.”

He further added, “Apart from the #1 ranking for the wholesale banking – transaction banking system itself, the report also validates our future-proof architecture covering both Retail Banking and Corporate Banking. These double wins are a first for Intellect and underline the company’s ability to play in the big league across the world. Additionally, even the modular solutions across lending and channels are in the top three, thanks to their comprehensive functionality and independent utility.

iGTB’s rich suite of transaction banking products enable banks ambitions to be Principal Banker to their corporate customers:

Cash optimisation in a rising interest rate environment: make the firm’s cash work and grow 24×7 with the world’s most comprehensive offering, licensed by over 40 of the world’s top banks serving clients in around 60 countries with an estimated 23% of MNC cross-border sweeps passing through iGTB systems

The world’s first integrated digital transaction banking platform: full service transaction banking using the model-bank approach. Banks become future-proof, risk-proof, compliant and profitable. Over 50% of corporate collections in India, Middle East and North Africa go through DTB.  DTB innovations this year include real-time customer & supplier onboarding, self onboarding, persona-led CXO and operational dashboards, SME banking and open banking API framework.

Revolutionizing digital access to banking: provide seamless digital omnichannel execution across the full range of transaction banking, offering contextual, instant, intelligent best-next actions – fully digitalized, cloud-native, and ground-up open microservice APIs.  The product range is especially strong in virtual accounts and client money management, as well as a full suite for SME with AI-supported cash flow forecasting

Anytime universal payments: capture growth opportunities of rising payment volumes and address regulatory challenges by providing enterprise-wide visibility into payment operations across all channels and business lines. Orchestrate payments end to end replacing all legacies siloed processing engines, ability to add real time limit control, and proven in live use processing over one million payments per hour.

Digitising Trade Finance and Supply Chain Finance: Trade and Supply Chain Finance, fully integrated and digitised, mitigating risk, reducing cost and optimising efficiency, driving a seamless customer experience all on one platform, on a single screen, from any channel, working towards paperless trade.  Sophisticated payables financing with dynamic discounting and seamless onboarding is one unique capability.

Intellect Revolutionary Contextual Banking Technology ranked #1 in the world for both Retail Banking and Transaction Banking by IBS

 

London (UK),

Intellect Design Arena Ltd, the specialist in applying true Digital Technologies and a global leader in Financial Technology across Banking and Insurance, has achieved a remarkable double first: it has been ranked #1 in the world for Retail Banking and ranked #1 in the world for Wholesale Banking – Transaction Banking by the highly respected, independent analyst IBS Intelligence, in their IBS Annual Sales League Table 2020.

 

IBS Intelligence is the definitive source of independent news, analysis & research relating to global financial technology markets.

Commenting on Intellect’s performance, the SLT Panel at IBS Intelligence said, “Two systems of Intellect Design Arena – Intellect Digital Core and Digital Transaction Banking have recorded their leadership position in the IBS Intelligence Sales League Table 2020. IDA solutions have been ranked #1 – for the second time in a row in the Retail Banking category, and have also been placed in the #1 spot in the Wholesale Banking – Transaction Banking category. The IBSI Sales League Table 2020 has been analysed based on systems purchases made by over 1,700 banks in over 150 countries, across 240 products from 62 suppliers across the Americas, Europe, Middle East, Africa and APAC.”

Intellect Global Consumer Banking (iGCB), the retail banking arm of Intellect, retained its #1 Global Leadership position in retail banking for the second time in a row. iGCB offers an end-to-end Contextual Banking suite for retail banking across Core, Lending, Cards, Wealth and Central Banking. iGCB breaks the one-shoe-fits-all paradigm and brings flexibility to how banks drive digital transformation. Whether the strategy is channel-led, product-led, middleware-led or even segment-led (think challenger banks), iGCB can make it happen in a ‘Progile’ – progressive + agile – manner. This unique infusion of integrated functionality and agility is made possible by our microservices-based, API-first, cloud-native architecture with powerful Olive Fabric capabilities.

 iGTB, the world’s first complete Global Transaction Banking arm of Intellect, has been ranked #1 as the best-selling wholesale banking – transaction banking system and joins the leadership club, validating its revolutionary #ContextualBanking innovation and a rich suite of transaction banking products. With 23% of the world’s MNC cross-border sweeps and over 50% of IMEA corporate collections going through iGTB systems, already proven capable of processing over one million domestic/international payments per hour in live use, this ranking underlines why so many of the world’s best corporate banks, bank on iGTB.

Intellect was also ranked in the top three best-selling solutions for Digital Banking and Channels, and also the top three best-selling solutions for Lending Systems.

Commenting on the ranking, Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “This is a remarkable validation of Intellect’s Best-in-Class Integrated Digital Banking Platform with Front to Back Capabilities across Retail and Corporate segments by IBS in the Sales League Table. The commendation also validates our microservices-based, API-first and cloud-ready architecture. Even our modular solutions across lending and channels are in the top 3, thanks to their comprehensive functionality and independent utility. This vindicates our pioneering use of #ContextualBanking based on Design Thinking principles – the concept that your banking systems should understand – even anticipate – what the client is trying to do. We are humbled by the recognition and thank our clients for entrusting the very core of their business functionality with us.”

Intellect Design named a Leader in the IDC MarketScape: Worldwide Trade Finance Report, highlighting its keen focus on transforming the corporate customer’s experience

London (UK) , 2 June 2020 :

Intellect Design Arena has announced that it has been positioned as a Leader in the IDC MarketScape: Worldwide Trade Finance Systems 2020 Vendor Assessment (doc #US43482018, MARCH 2020). The report assessed vendors on their depth and breadth of functionality, level of integration and forward-looking technology strategy around cloud and APIs.

The IDC MarketScape states in the report:

Intellect’s primary focus on corporate banking pays off when it comes to forward-looking product road map, new technologies, and understanding the business.

The Global Transaction Banking arm of Intellect Design Arena, iGTB, provides Trade & Supply Chain Finance, the first and only integrated platform covering a comprehensive range of business products across Trade Finance & Supply Chain Finance with integrated Limits & Collateral Management capability. The product supports multi-country, multi-currency, multi-entity, multi-lingual operations and supports a wide variety of messaging formats.

The IDC MarketScape also states in the report:

Consider Intellect Design whe   you want a forward-looking firm with a good cloud and technology strategy with a keen focus on transforming the corporate customer’s experience.

Fully integrated with the award-winning omni channel CBX application, iGTB uniquely combines trade and supply chain finance on a single platform providing a seamless customer experience front to  back.  The  modular  design  is  underpinned  by  a  range  of  common  functions  and  services.  It provides comprehensive workflows allowing immense flexibility in a business process centric business like trade finance and supply chain finance. These can be further extended and tailored as per the bank’s own process models.

It is complemented by an advanced data analytics capability designed to generate business

intelligence that will guide strategic direction and informed decision-making linked to customer- centric business models. It is further enhanced by a rapid and seamless supplier on-boarding module for anchor corporations in supply chain finance, providing increased transparency and robust risk management. In addition, the loosely coupled, API-first architecture provides the agility to support speed to market, building upon a number of strategic partnerships, such as with r3 and bolero, to develop leading edge digital solutions that are in ever increasing demand in response to COVID-19. The platform also enables seamless integration with the bank’s various backend and downstream systems supporting a wide variety of industry standard transport protocols and message formats.

This platform is a unique solution which delivers smart contextual solutions that are designed to contain cost, reduce risk and increase overall competitiveness.

Commenting on the recognition, Manish Maakan, CEO, iGTB said, recognition from the IDC MarketScape is an important validation of our #1 commitment and strategy to deliver the first and only integrated contextual trade and supply chain finance platform; that enables financial institutions to carry out all the trade & supply chain finance operations smoothly and effectively. We have always believed that it is possible to simplify complex and disparate processes and design an integrated platform that offers a 360 degree capability to digitise the operations.

He further added, “The  IDC  MarketScape’s  thorough  analysis  included  deep-dives  with  our customers and we are thrilled to be named a Leader based on our proven capabilities in contextual trade  finance.   It is strong validation  for our  strategy and  recognizes our work to deliver connected Digital Corporate Banking in a market where no other vendors can provide such end-to-end capabilities.”

About IDC MarketScape:

IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of ICT (information and communications technology) suppliers in a given market. The research methodology utilizes  a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. IDC MarketScape provides a clear framework in which the product and service offerings, capabilities and strategies, and current and future market success factors of IT and telecommunications vendors can be meaningfully compared. The framework also provides technology buyers with a 360-degree assessment of the strengths and weaknesses of current  and prospective vendors.

Intellect CBX Retail Digital Onboarding wins XCelent Functionality Award from Analyst Firm Celent

Chennai (India) , 25 March 2020 :

Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, announced that it has won the XCelent Award from leading industry analyst firm Celent, for ‘Breadth of Functionality’ in its CBX Retail Digital Onboarding platform.

Celent announced the XCelent Award in their report ‘Retail Banking Customer Acquisition Platforms-ABCD Vendor View’. Intellect CBX Retail Digital Onboarding was recognised as an ‘eXemplar’ in the functionality category. To arrive at the Breadth of Functionality scores, Celent evaluated each vendor across four areas: detailed functionality, breadth of products supported, reference client ratings and analyst’s demo rating.

In today’s experience economy, customers expect the ‘Amazon experience’ from their bank’s interface as well. A customer journey like onboarding, the first handshake between bank and customer, becomes extremely crucial in Digital Banking. Intellect CBX Retail, with its ‘5D Digital Onboarding’ platform, transforms what was so far a ‘high abandonment’ journey, into a seamless, delightful one for the customer. Banks can now enable instant account opening through eKYC, and even perform real-time customer verification with data capture using a single click. This frictionless user experience forges a strong, instant relationship between bank and customer. The XCelent awards recognise this innovation for its transformative power.

“The past two years have seen an explosion of fintech product launches in response to the manifest demand for digital customer origination and onboarding solutions” said, Bob Meara, Senior Analyst, Celent’s Banking Practice and the report author. He further added, “In the Functionality dimension, Intellect edged out its competitors for its industry-leading breadth of product support across retail and business banking lines of business, as well as functional leadership in six of the eight areas examined”.

As digital journeys become more complex, customers demand fast and frictionless service on the channel of their choice. Attracting new business and the onboarding of new customers on their channel of choice are the most critical part for any bank’s digital strategy.  Intellect’s CBX Retail Digital Onboarding is a game-changer for banks and financial institutions looking to make the shift from an Omni-digital (available on multiple devices) to a truly omni-channel experience” said, Rajesh Saxena, CEO, Global Consumer Banking, Intellect Design Arena Ltd. “We’re extremely proud to stand behind the most advanced, and functionality-rich product in the market, and honoured to be recognised for our achievements by Celent.”

The XCelent Awards are designed to help financial institutions and technology providers stay abreast of industry trends by evaluating the shifting vendor marketplace and recognizing top-performing vendors. Celent developed its ABCD methodology, to offer two comparative views, first (“A” and “B”) positions vendors along with technology and functionality dimensions and second (“C” and “D”) positions vendors along client base and depth of customer service dimensions.

The Celent report states – “Overall, Intellect’s Digital Onboarding Platform boasts a modern, cloud-native, micro services-based architecture. The strength of the solution is its platform-wide step-up authentication mechanism. The solution can adjust the thresholds and weightings of a variety of variables in order to balance risk management and the UX. In addition, the platform offers financial institutions native campaign management capability to place ads within the context of their digital properties. This can be used for cross-selling as part of an application or in any other user journey once inside their digital banking application.”

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC]. https://www.celent.com/

Emirates NBD wins Celent’s Model Bank award for Transaction Banking Transformation

iGTB, the world’s first complete Global Transaction Banking platform from Intellect Design Arena Limited, is proud to announce that its client, Emirates NBD, a leading bank in the MENAT (Middle East North Africa and Turkey) region has received Celent’s prestigious Model Bank award for its Transaction Banking Transformation.

Emirates NBD has implemented iGTB’s end-to-end Digital Transaction Banking platform for Cash Management, in its ongoing transformation. A front-runner in digital banking innovation, Emirates NBD received international recognition for its ‘Transformation in Transaction Banking’ from leading international experts in financial services technology, Celent Research. Analysts at New York-based Celent declared Emirates NBD the winner of its 2020 Model Bank award for Transaction Banking transformation, commending the bank on its usage of modern technological architecture and co-creation on innovation to improve client experience and increase operational efficiency.

Commenting on the award, Alenka Grealish, Senior Analyst, Celent, said in the report, “Emirates NBD’s digital transformation of transaction banking stands out for its comprehensive scope, design approach, modern tech architecture, and its swift implementation.”

“iGTB congratulates Emirates NBD for this prestigious award for executing its vision to transform itself into a well-recognized leader in the MENAT region.  We are honoured to have played a role in Emirates NBD’s success,” says Manish Maakan, CEO, iGTB.

He added, “iGTB as a leader in the Middle East has been empowering banks in the region to launch and commercialise the transaction banking business in an integrated way and to gain significant market share.”

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally experienced analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of Oliver Wyman Group, which is a wholly-owned operating unit of Marsh & McLennan Companies [NYSE: MMC].https://www.celent.com/

St. James’s Place wins Celent’s Model Wealth Manager with Intellect SEEC’s Intelligent Automation

New York, 30th April, 2020: Intellect is proud to announce that St. James’s Place Wealth Management (SJP) won the 2020 Celent Model Wealth Manager award in the Emerging Technology category. The award recognizes how SJP was able to drastically reduce pain points in their advice quality checking process, reduce the time to review specific elements with high certainty and allow increased volume and efficiency, using Intellect’s Intelligent Automation solution.

SJP is UK’s leading wealth management and financial planning firm, focused on delivering outstanding service and superior returns to its customers while driving internal efficiencies. SJP has proudly achieved high growth while delivering quality, face to face advice and service. Its advisers and clients have both benefited from innovative AI solutions to address challenges of high-touch processes and long turnaround times leveraging unstructured data and Machine Learning.  SJP partnered with Intellect SEEC to introduce a solution that would automate ingestion of complex forms and documents, help increase coverage, reduce turnaround time and errors, and increase operational efficiency in the advice quality assurance and on boarding processes.

Intellect’s Intelligent Automation solution which includes iDX (Intelligent Data Extraction) was the perfect choice to meet SJP’s goals because of its ability to accurately extract complex information from large unstructured documents and automate downstream processes with Machine Learning.

With the Intellect solution, SJP experienced a 50% improved operational efficiency, 80% increase in business volume and an 85% reduction in cycle time for this process.  SJP and its advisers can now scale their business a lot more easily with consistently high service and quality advice.

Commenting about the Celent Model Wealth Manager 2020 Award, William Trout, Head of Wealth Management at Celent,  said in the report, “Pensions transfer review has always been a mission-critical function for St. James’s Place. The use of intelligent automation technology (“Cognitive  RPA”) allowed St. James’s Place to orchestrate and automate the critical yield calculations (CYC) function and incorporate critical business flow monitoring, exception handling, and feedback processes. Intellect implemented an intelligent automation solution that executes, validates the Critical yield calculations (CYC) required to review the suitability of pension transfer cases for SJP. Intellect’s proprietary product IDX (Intelligent Data Extraction) extracted highly contextual information from unstructured advice and ceding provider documents, thus providing agility to the solution.”

Ian MacKenzie, Chief Operations & Technology Officer at St. James’s Place, said: “To be recognised as a Model Wealth Manager by Celent is an honour and further affirms industry demand for solutions driven by emerging technology. Intellect’s Intelligent Automation solution provided us with an innovative way to achieve our main objective of improving operational efficiency.  We are experiencing firsthand how innovative and emerging technologies are transforming business.  I would like to thank our team and Intellect SEEC for their dedication to this initiative. We are only just scratching the surface in terms of what this technology can do for our business in the future.”

Pranav Pasricha, CEO of Intellect SEEC said,We are proud of our 12+ years’ long standing relationship with SJP and to be trusted as their digital and cognitive services partner. Together, we have proven that ML and Big Data based tools have now matured significantly enough to credibly take on complex cognitive tasks with high certainty and enhance  advice quality, regulatory compliance and efficiency all in one hit to a level never before possible with traditional technologies. We are very proud to be leading the charge in the Financial Services sector on such initiatives with clients like SJP”.

About St. James’s Place Wealth Management

St. James’s Place Wealth Management is a leading UK wealth management organisation. Founded in 1991, St. James’s Place was listed on the London Stock Exchange in 1997 and is a FTSE 100 company, with over £117 billion funds under management. The company provides face-to-face advice to clients based on their individual needs and circumstances, adapting the advice as requirements change over time to ensure that recommendations remain appropriate. Website: https://www.sjp.co.uk

StarStone named Celent Model Insurer of the year 2017

The Insurer has been awarded in the data mastery and analytics category for its exponential leap in using AI through Intellect Risk Analyst Platform

5 April 2017 :

New York: 5 April, 2017: StarStone, the global specialty insurer, today announced it has been named by industry analyst, Celent, as a 2017 Model Insurer in the Data Mastery and Analytics category. Judges recognized the insurer’s exponential leap in using Artificial Intelligence through Intellect SEEC’s Risk Analyst platform to materially reduce loss ratios and improve profitability across key portfolios.

Focused initially on StarStone’s on-line ESCAPE and traditional Excess Casualty platforms, the implementation reduced underwriting decision-making time, enabling more accurate and consistent underwriting which will lead to significant potential savings in claim and expense costs. Further gains are expected as StarStone implements Intellect SEEC’s Artificial Intelligence into other underwriting portfolios. The dramatic results and StarStone’s insight in harnessing technological innovation to improve the efficiency and robustness of the business, while increasing broker engagement, were key in the Celent judging panel’s decision. Norman Brown, Chief Executive Officer of StarStone US, said: “To be recognized as a Model Insurer by Celent is an honor and further affirms industry demand for solutions driven by exponential technology. The Intellect Risk Analyst initiative very quickly improved our view of risk, risk selection and efficiency, leading to anticipated increases in underwriting profit. I would like to thank our team and Intellect SEEC for their dedication to this initiative. We are only just scratching the surface in terms of what this technology can do for our business in the future.” Pranav Pasricha, CEO Intellect SEEC said: “Congratulations to StarStone. This accomplishment is a testament to our aim of improving risk selection and assessment in the industry by using non-traditional data sources and leveraging the growing capability of Artificial Intelligence. With AI we can instantly analyze much more data to be a lot more precise in underwriting and pricing, which is simply not possible with traditional means. We are confident these technologies are set to fundamentally disrupt traditional underwriting.”

About ESCAPE

ESCAPE was launched by StarStone in 2010 with the goal of streamlining the quote-to-bind process for brokers. Using the latest breakthroughs in software and technology, the portal’s offerings include a quick quote option, immediate policy issuance, multiple limit options at quote as well as access to communicate with an underwriter in real time. The portal is currently available for select brokers selling umbrella and excess liability policies to small businesses and other core lines, including Inland Marine. StarStone also harnesses the technology behind ESCAPE for its MGA partners across Europe.

About StarStone

StarStone is an international, A- rated insurance group with six wholly owned insurance platforms, including Lloyd’s Syndicate 1301. StarStone underwrites business across the Property, Specialty and Casualty risk classes from operations in London, Continental Europe, Australia and the US. StarStone is owned by Enstar Group Limited, the Trident V funds managed by Stone Point Capital LLC and Dowling Capital Partners I, L.P. For further information about StarStone, see www.starstone.com.

About Intellect Design Arena Ltd.

Intellect Design Arena Ltd, a specialist in applying true Digital Technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM), and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand, progressive financial institutions rely on for digital transformation initiatives. Intellect pioneered Design Thinking for cutting edge products & solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FT8012, 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 generates annual revenues of more than USD 124 million, serving more than 200 customers through offices in 40+ countries and a diverse workforce of more than 4,000 solution architects, domain and technology experts, in major global financial hubs around the world. For further information on the organization and its solutions, visit www.intellectdesign.com.

About Intellect SEEC

Intellect SEEC, provides an extensive portfolio covering distribution, underwriting and claims. Intellect SEEC has been developing innovative insurance solutions to lower operating costs and increase premium volumes and margins for the last two decades. Over the last 25 years, the company has built strategic relationships with major insurance carriers in America, Canada, United Kingdom, India and the Far East. Intellect SEEC builds its innovative, low-cost solutions on a firm belief that while the underlying business and technology of insurance are complex, their application should not be. For more details, visit www.intellectseec.com.

About Celent

Celent is a research and advisory firm dedicated to helping financial institutions formulate comprehensive business and technology strategies. Celent publishes reports identifying trends and best practices in financial services technology and conducts consulting engagements for financial institutions looking to use technology to enhance existing business processes or launch new business strategies. With a team of internationally based analysts, Celent is uniquely positioned to offer strategic advice and market insights on a global basis. Celent is a member of the Oliver Wyman Group, which is a wholly-owned subsidiary of Marsh & McLennan Companies [NYSE: MMC].

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