Vol - 05 | June, 2021
Intellect is a brand that progressive financial institutions look to for their digital transformation initiatives. At Intellect, we take pride in looking ahead of the curve by keeping the future in mind. Along with our visionary thinking, there is only one more thing that is continuously working to take us into the future – our technology-first approach.
With every new idea, innovation and product, we are taking the world’s premier financial institutions into the future, while we are creating our own. Being a technology-first organisation, our approach has been to put our clients at the forefront of the financial industry, all across the globe. Time and again, we have proven that we are true partners to them – a technology partner and guide to each of our valued customers.
As a cloud-native, future-ready, multi-product FinTech company for the world’s leading financial and insurance clients, we truly are emerging as a FinTech leader. The proof of this is in our recent and exceptional triple win in the independent analyst IBS’ Annual Sales League Table 2021, in which we have been placed #1 globally under the Retail Banking, Wholesale Banking – Transaction Banking and InsurTech categories, amongst many more wins. This is a remarkable validation for us, proving how our customers rely on our products and this reaffirms their faith in Intellect’s Next-Gen Fintech architecture.
Our continued effort and hard work, paired with your confidence in us, has helped us win in various challenging markets across the world. To remain a winning organisation, we intend on creating a ‘flywheel effect’ in our journey ahead, in which we look forward to creating even more products and possibilities for our clients, as we redefine the Financial Technology landscape on a global scale.
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. Our contextual and composable technologies with their next-gen fintech architecture allow our customers to enjoy seamless experiences and rely on us. Since our inception, our approach has been to put our clients at the forefront of their respective financial industries, and now, they have put us first too.
We are proud to be featured in the IBS Sales League 2021, where we have been ranked #1 in the world for Retail Banking for three consecutive years, Wholesale Banking – Transaction Banking for two consecutive years and in the inaugural InsurTech category this year. We are also now a 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 our consistent performance in the last 5 years.
Our early understanding of how financial services technology would evolve and how inefficiencies in banking technology could be approached, has helped us remain focussed while we consistently delivered high-quality experiences to ensure the success of our clients. This has enabled us to be the API-led, cloud-native, future-ready, new-gen fintech architecture-led organisation that we are today!
IBS Intelligence is a leading UK-based independent analyst and their Annual Sales League Table is a widely-accepted industry benchmark for the performance of global banking technology solutions. The Sales League Table has been running for over 20 years and is recognised as a barometer for financial technology supplier sales performance across the banking industry.
With the impact of COVID-19 running deep for many enterprises and industries, the IBS Sales League Table 2021 Rankings aim to identify fintech companies that have carved a global niche that has been built on a strong foundation, and found innovative ways to respond to changing market demands, while accelerating the digital transformation journey of enterprises. Our performance in this year’s Sales League Table is reflective of how we are designed. We are designed to do just that – provide security, innovation, and speed-to-market that empowers organisations to transform from the core, become responsive, and resilient.
This award reflects our performance in various markets, and is a resounding validation of the recognition we have received globally, principally in advanced geographies. We are proud to have further extended our leadership in more product categories this year and won this accolade, while successfully competing with new generation fintech players as well.
Intellect launches iKredit360 – a composable, cloud-native technology platform exclusively designed for European financial institutions
iKredit360 is a revolutionary credit platform that has the ability to converge financial offerings such as credit products, cards, payments and banking services to create integrated user journeys across the financial ecosystem. Ecommerce players, financial institutions and NBFIs in Europe can leverage this platform to curate credit experiences for their consumer and commercial segments.
Magic Submission 2.0 Released
Magic Submission’s enhanced version has been released to production at one of the largest commercial insurers in North America, for one of the most complex use cases – Property Statement of Values (SOV) processing. It includes enhanced Artificial Intelligence (AI) models and third party data to extract, validate and enrich information for ingestion into downstream systems. The new ‘Human in the Loop’ exception handler interface now comes with advanced features for one-click updates. Exception handling UI has become a significant differentiator for Magic Submission.
Every customer is a milestone in our success journey. Here is a round-up of all the new customers who have embraced us and also the implementations that we have completed for our existing customers!
Our accolades strengthen our resolve and encourage us to do more to offer the best-of-the-breed products that help our customers grow.
Explore our resources to see proof of the value we add to our customers’ operations and how it helps drive successful business outcomes.
Stay up to date with what is happening in the world of FinTech, with the latest research and articles.
As a buzzword and management fad, digital transformation has about another 12 to 18 months before some new fad begins to take hold.
Banks, on the other hand, have a long way to go to achieve their digital transformation.
A study from Cornerstone Advisors found that only about a quarter of banks and credit unions had embarked on a digital transformation strategy prior to 2019, and that 45% hadn’t launched a strategy prior to this year.
The environmental, social, and governance (ESG) movement has accelerated quickly in recent years, with many investors now looking to embrace sustainable investing practices. According to Morningstar, money invested into ESG funds rose to $71.1 billion between April and June 2020, pushing the total market value above $1 trillion for the first time.
This is also just the beginning. A growing number of investors will begin to re-think their portfolios as topics like sustainability and climate change continue to dominate the news agenda.
Using Machine learning and Artificial Intelligence along these lines, banks get a clear image of risks and danger and possible return for every individual, prompting more secure choices and fewer people defaulting on their credits.
For a long time, banks have been at the leading edge of utilizing innovation to assist with front-end and back-end activities. It’s nothing unexpected that banks are using artificial intelligence and machine learning techniques to help in a plethora of ways. These emerging technologies are way too useful than one can imagine.