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Intellect Design Arena taps bank-wide digital transformation in APAC

By Gloria Mathias

October 16, 2023

  • APAC
  • APAC Expansion
  • Banking technology

Intellect Design Arena, Banking Technology, Transaction Banking, Banking Technology, APAC, Digital Transformation, Philippines Bank, Fintech Expansion Intellect Design Arena, a cloud-native, API-led microservices-based, Financial Technology company has announced the signing of a digital transformation programme with a universal bank in the Philippines.

At the heart of this transformation programme and its partnership with Intellect is the Bank’s aim to provide priority service and superior customer experience that resonates with its brand promise of exceptional banking.

iKredit360 Loan Origination System (LOS), from Intellect Global Consumer Banking (iGCB), the retail banking arm of Intellect, is a workflow-based digital credit origination system built on API first, microservices architecture, with a wide functional breadth.

With iKredit360, the bank will be able to build the right credit portfolio and, at the same time, increase customer satisfaction through faster loan approvals and reduced onboarding times.

The key technology framework behind these solutions is Intellect’s is powered with 285 prebuilt microservices available on the cloud and access to 1,214 APIs and 200 events to enable banks to harness the power of AI and optimise operations.

The open finance platform is set to aid banks in harnessing the power of artificial intelligence and optimising operations based on five major principles that include configurability, richness, scalability, ease of integration, and composability.

Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited, said, “Our strategic presence in the Philippines has allowed us to establish ourselves as a dominant force in the banking technology fintech sector. Our dedication to excellence and our deep understanding of the Transaction Banking and Retail banking domains have paved the way for Intellect’s dominance in the Philippine market. We are honoured to be trusted by the Bank and remain steadfast in our commitment to delivering unparalleled solutions that enable their success.”

“At Intellect, we recognise the immense potential and transformative power of technology. With, banks can harness the power of advanced technologies, leverage data-driven insights, and unlock new avenues for growth. We are proud to be at the forefront of revolutionising the financial landscape in the Philippines, empowering banks with cutting-edge solutions to enhance their digital capabilities,” added Jain.

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