Intellect Design Arena joins BIAN’s ecosystem

By Megha Bhattacharya

Intellect Design Arena today announced that it has joined Banking Industry Architecture Network (BIAN), a not-for-profit organisation that promotes and provides a common framework for the banking industry. Intellect stated that it aims to extend its commitment to open banking and API-based contextual banking standards through the BIAN partnership.

“Intellect is pleased to be a member of BIAN, and it is an important milestone in Intellect’s efforts towards standardisation” said Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited. “…The future of the sector is open banking and APIs, which help banks to pursue new distribution channels while also finding new ways to improve the customer’s contextual banking experience. Intellect offers future-ready multi-product FinTech platform which are built on API-first, microservices-based architecture, cloud-native platforms, powered by AI and ML.”

BIAN is a not-for-profit ecosystem that aims to help professionals across the financial services sector to lower the cost of banking, accelerate innovation as well as enhance the banking activities by revisiting and navigating around their existing resources.

Intellect Design offers a multi-product FinTech platform built on the principles of Design Thinking. The company also announced the development of a future-proof tech stack that is microservices-based, API-first, and cloud-ready and is powered by AI and ML.

Hans Tesselaar, Executive Director of Banking Industry Architecture Network (BIAN), said, “It is an exciting time to be part of the global financial services ecosystem, as we look to make the transition from open banking to open finance. This will completely revolutionise the way the consumer interacts with their finances and bring a multitude of benefits to the sector. We already know that our members will benefit immensely from Intellect’s experience in the open banking space, as we look to navigate the industry of tomorrow. We’re proud to welcome Intellect to our growing and working with them both now and in the future.”