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Undisclosed bank in Vietnam renews partnership with Intellect Global Consumer Banking

By Gloria Mathias

January 04, 2024

  • Banking new
  • Banking Solutions
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Intellect Global Consumer Banking, Intellect Consumer Banking, Faisal Islamic Bank, digital banking, Vietnam Bank, eMach.ai, Banking Transformation, Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, has announced that one of the leading banks in Vietnam has renewed its license for iGCB’s Core Banking offering, Intellect Digital Core (IDC), to modernise its banking operations.

The bank will leverage iGCB’s recently upgraded core banking platform, IDC, the largest open finance-based core banking platform, to launch innovative offerings and improve efficiency.

The bank would leverage iGCB’s eMACH.ai-based core banking platform, IDC, to power its mission to become one of the top banks in Asia-Pacific by 2030

The bank serves millions of individual and corporate customers and manages assets of over $24 billion. Powered by eMACH.ai (event-driven, microservices-based, API, cloud, and headless with underlying AI models), IDC will enable them to launch innovative products across current and savings accounts, deposits, payments, lending, treasury, and trade finance to cater to their customers’ ever-evolving banking requirements.

Post-transformation, the bank intends to:

  • Elevate the customer experience through relationship-based pricing, contextual product cross-selling, and upsell recommendations.
  • Launch new products in days rather than months by leveraging the composable architecture and IDC’s unique UI-based product configurator solution.
  • Process high volumes of International and domestic payments in real time
  • Offer fully digital end-to-end loan management and comprehensive NPA management.
  • Remove information silos and provide instant analytics and reports to bank employees through Customer 360 and the CXO cockpit.

Rajesh Saxena, CEO, Global Consumer Banking (iGCB), Intellect Design Arena, said, “We are honoured to be selected by the bank for their core banking transformation yet again. We have significantly invested in understanding the bank’s business needs, technology, strategic goals, and culture. We are confident that IDC, based on the composable eMACH.ai architecture, will empower the bank to design a solution that seamlessly integrates with the current infrastructure, as they aim to become number 1 in the region. We thank the bank for the opportunity, and we are committed to achieving the bank’s aspirations.”

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