Intellect launches Purple Fabric, an AI adoption platform for FIs

By Gloria Mathias

IntellectAI, a business unit of Intellect Design Arena focusing on AI technology, has announced the launch of Purple Fabric, a platform that accelerates enterprise AI adoption for financial institutions (FIs).

Leveraging the potential of the First Principles Thinking-based Composable and Intelligent Open Finance Platform eMACH.ai, Purple Fabric represents the next step in the evolution of AI, advancing from basic automation to Enterprise-Connected Intelligence, enabling FIs to achieve substantial business impact.

The anticipation around AI promised to revolutionise industries. Still, many financial institutions struggled to achieve tangible results, often due to challenges with rule-based orchestration and rapid AI integration into existing processes.

Recognising this, Intellect leveraged its 3 decades of domain expertise to develop Purple Fabric, a decision-grade AI platform designed to overcome data fragmentation and silos. The platform emphasises ethical AI, addressing data biases and ensuring traceability with a comprehensive audit trail.

Purple Fabric is an enterprise AI platform that transforms enterprise data into actionable AI insights and solutions. By making data RAG-ready (Retrieval-Augmented Generation) and enabling subject matter experts to build and deploy AI-driven solutions quickly, it creates a knowledge bank from six key sources: structured and unstructured enterprise data, policies, market data, regulatory information, and tacit knowledge.

Purple Fabric offers FIs the opportunity to align their AI ambitions with an honest appraisal of enterprise readiness and adopt a modular transformation design journey.

This foundation allows the AI Expert Agent System to achieve precise, goal-driven outcomes with exceptional accuracy and speed. Additionally, Purple Fabric introduces SWARM (Situational Workflow Automation and Rapid Micromodeling) capabilities, enhancing human efficiency through adaptive and responsive automation workflows.

“Purple Fabric is more than just a platform; it’s a productivity powerhouse that empowers financial institutions to harness AI for real business impact,” said Banesh Prabhu, CEO of IntellectAI. “Our vision is to enable Financial Institutions to seamlessly integrate AI into their operations, achieving new levels of accuracy, speed, and efficiency. With its modular design and advanced AI capabilities, Purple Fabric equips FIs to navigate the complexities of the financial landscape with confidence, paving the way for the future of work through Ethical AI.”