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AFC Commercial Bank taps Intellect Design Arena to modernise banking operations

By Delisha Fernandes

September 20, 2023

  • AFC Commercial Bank
  • Core Banking offering
  • Digital Lending
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Intellect Design Arena ,Intellect Global Consumer Banking, AFC Commercial Bank, Core Banking offering, Intellect Digital Core (IDC), omnichannel, personal finances, digital lending, FinTech news, FinTech Africa, FinTech IndiaIntellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, has announced that AFC Commercial Bank has chosen iGCB’s Core Banking offering, Intellect Digital Core (IDC) to modernise its banking operations.

Rajesh Saxena, CEO, Global Consumer Banking (iGCB), Intellect Design Arena, said, “The African banking industry has evolved tremendously in the past few years. Banks are looking for technology platforms that can help them transform progressively based on market needs. IDC’s fully composable architecture helps them to do exactly that, on a pay-as-you-grow model. We are excited to collaborate with AFC Commercial Bank and support their mission to provide a best-in-class experience to their customers.”

The bank which is on a high growth trajectory aims to leverage technologies to transform its banking experience. The partnership with Intellect will enable AFC Commercial Bank to deliver a seamless and personalised banking experience to its customers. By utilising IDC’s core banking solution, AFC Commercial Bank will be able to:

  • Deliver omnichannel customer experience with intuitive UI/UX and contextual offers
  • Provide better management of personal finances to customers through features like goal-based savings and spend analysis
  • Offer complete control of banking experience to customers through DIY UI
  • Improve business visibility through CXO cockpit with enhanced real-time 360° customer insights and reporting
  • Reduce inactive customers through churn analysis
  • Increase asset book with end-to-end digital lending

Powered by eMACH.ai (Events driven, Microservices-based, API, Cloud, Headless with underlying AI
models), the world’s largest, most comprehensive and innovative open finance architecture, IDC
enables banks to launch innovative products across current and savings accounts, deposits, cards,
payments, lending, treasury and trade finance to cater their customers’ ever-evolving banking
requirements.

Ken Chitando, AFC Commercial Bank Managing Director, said, “We are embarking on this end-to-end banking transformation to ensure that our customers receive a superior banking experience that is truly unparalleled in the industry. The decision to partner with Intellect Global Consumer Banking was driven by the need to offer an enhanced banking experience to our customers. In an environment where cutting edge technology has enabled stiffer competition we really needed to be able to offer service that is head and shoulders above the rest of the market players.”

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