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IBSi Sales League Table 2024 awards Intellect #1 global rank in 3 Banking offerings

By Gloria Mathias

June 27, 2024

  • canada Fintech
  • Fintech news

Intellect Design Arena, Indian Bank, Transaction bank, Corporate banking, Cash Management,, Fintech News, India News, India Fintech, Fintrech News, India Digital, Co-operative bank, iCPX (Corporate Procurement eXchange), iAPX (Accounts Payable eXchange), Canada Fintech, vancity, Vancity, Credit Union, USA, IBS Intelligence, SLT, Sales League Table Awards,Intellect Design Arena Ltd, a cloud-native, API-led microservices-based, multi-product FinTech company, has been ranked #1 in three of its banking offerings by the UK-based independent analyst firm IBS Intelligence.

Intellect continues to lead the fintech industry with top rankings in Retail Core Banking for the sixth consecutive year, Transaction Banking for the fifth consecutive year, and Lending for the third consecutive year. Intellect also secured #2 positions in 8 other financial technology categories and retained the #3 ranking in “global leadership for geographic spread” for the fourth year in a row.

IBSi’s Annual Sales League Table is a widely regarded industry benchmark that measures the performance of global banking technology solutions. Running for over two decades, The Sales League is recognised as a key indicator for financial technology supplier sales performance across the banking industry. This comprehensive ranking provides valuable insights into market trends and the competitive landscape, enabling businesses to understand the dynamics and evolution of the FinTech industry.

The driving force behind Intellect’s success is, the comprehensive, composable and intelligent open finance platform. With an array of 329 microservices, 535 events, and over 1757 APIs, enables financial institutions to build future-ready solutions, providing them with a global competitive edge. Composed Intellect Digital Core (IDC) retained its #1 Global Leadership position in Retail Core Banking for the sixth year. IDC is a comprehensive Core Banking Product, enabling banks to create signature banking for their evolving customers.

IDC offers an integrated banking suite covering the entire customer financial life cycle, including Current & Savings, Deposits, Lending, Credit Card, Trade Finance, Treasury, and Digital Banking. Using AI/ML-based models and rule-based engines, IDC ensures exceptional customer experiences with zero reconciliation errors via its N-tier General Ledger. Its omni-channel platform reduces branch wait times, supports digital account opening, and enhances engagement. retained its #1 Global Leadership position in Wholesale Banking (Transaction) for the fifth consecutive year. The platform has revolutionised cash management by enabling banks to effectively make, manage, and move money, maximising revenue and enhancing the customer experience across various industries.

As an integrated and intelligent platform, DTB covers all aspects of transaction banking, including accounts services, payments, liquidity management, collections, virtual accounts, trade finance, and supply chain finance, providing a comprehensive solution for every client and sector. Composed Lending Platform, iKredit360 retained its #1 Global Leadership position in Lending for the third year. iKredit 360 is a comprehensive and composable credit technology platform that enables institutions to curate unique credit experiences for merchants, channel partners, and end consumers. It supports a wide range of credit products across Retail, Corporate, and SME segments.

Additionally, Intellect secured #2 rankings in 7 key categories: Digital Banking Channels, InsurTech (4th consecutive year), Wholesale Banking Payments Systems, Islamic Lending (Retail), Islamic Digital Banking, Regional Leader (North America), and Domestic Leaders—India (Retail Core).

Also, Intellect maintained its #3 ranking for global leadership in geographic spread for the fourth consecutive year. These accolades underscore Intellect’s broad expertise and global impact across diverse sectors of the financial technology industry.

Robin Amlôt, Managing Editor at IBS Intelligence said, “Intellect’s continued dominance at the IBSi Sales League Table underscores its pioneering role in the FinTech industry. Their commitment to innovation, exemplified by the groundbreaking platform, continues to set a high benchmark in Retail Core Banking, Transaction Banking, and Lending. Intellect’s solutions are not only reshaping the present landscape but are also poised to lead the evolution of financial services globally, driving unprecedented advancements and customer-centric solutions.”

Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited, said, “We are elated to lead the industry with our groundbreaking solutions, achieving significant victories at the IBSi Sales League Table 2024. Our products and platforms, built on First Principles Thinking, are revolutionising the FinTech landscape and driving Enterprise Connected Intelligence transformation.”

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