Intellect Design Arena Ltd’s shares were up by 0.40 per cent after the company launched the Intellect Digital Core for cooperative banks by utilising eMACH.ai, an open finance platform. This technology aims to enhance the digital transformation of cooperative banks to meet evolving customer demands and stay competitive.
The company said the new suite offers a core banking system with advanced security features on the cloud. It provides cooperative banks tools to improve their financial health and operational efficiency, aligning with the Digital India initiative.
Ramanan SV, CEO-India and South Asia, Intellect Design Arena, said, “We are excited to bring Intellect Digital Core to revolutionise the way cooperative banks operate in India. Being made in India, we understand the patterns of the Indian market and the evolving demands and expectations of customers in Tier 2 & 3 cities. The technology is composed with the ‘first principles’ technology suite eMACH.ai, enabling banks to become digital enterprises, thereby driving exponential growth. With a legacy spanning three decades and guided by an institutionalised design thinking approach, Intellect continues to reinforce its technology leadership in the financial technology space — this product specifically designed for cooperative banks is testimony to that.”
The shares were up by 0.40 per cent to ₹897 at 12.47 pm on the BSE.