- Intellect is rated the highest among all 7 providers in the corporate banking report in the off-the-shelf corporate banking capabilities criterion
- Intellect’s Retail Banking DBPP is a good shortlist candidate for banks that look for a flexible vendor with modern architecture
London, October 03, 2022: Intellect Design Arena Ltd, a cloud-native, API-led microservices-based, multi-product FinTech company, today announced that it has been recognized by Forrester, a top global analyst firm, as a leader in their prestigious reports, The Forrester Wave™: Digital Banking Processing Platform (DBPP) For Corporate Banking, Q3 2022 and The Forrester Wave™:Digital Banking Processing Platform (DBPP) For Retail Banking, Q3 2022”.
The corporate banking report is based on an evaluation of 7 solution providers in 33 evaluation criteria. The report states that Intellect Corporate Digital Banking platform from its transaction banking arm Intellect Global Transaction Banking (iGTB), convinces with broad corporate and biz banking functionality. Some of the findings include:
- Intellect had the highest scores possible in the “planned architectural/technology enhancements” and “off-the-shelf banking capabilities” criteria
- The solution convinces with strong pricing capabilities, and a largely microservices-based architecture
- Intellect is the candidate for banks that look for a flexible vendor with a modern architecture and have a strong governance process in place
- Intellect product roadmap will enable delivery of competitive solutions and includes differentiating capabilities such as ESG compliance and AI-powered operations
Manish Makaan, CEO, iGTB said, “Intellect iGTB is very happy to be recognised as a leader in Forrester Wave: Digital Banking Processing Platforms, Corporate Banking. As a leader & trusted partner for digital banking transformation initiatives, we have experienced first-hand from banks and their clients, that technology and contextuality have become key tenets in building a digital banking experience and ecosystem.”
He further added, “In this innovative quest, Intellect iGTB has built an umbrella of differentiated architecture and technology termed as Commercial Banking Operating System, which is built for the cloud. This hyperscale technology stack is the basis of composability and contextuality when it comes to building – a robust engine. A technology engine that is architected to deliver high performance, that can easily scale up, cater to the high transaction growth demands of corporates and is highly efficient in corporate banking operations.”
The Forrester Wave™: Digital Banking Processing Platforms For Retail Banking, Q3 2022, evaluated Intellect Design Arena’s retail banking arm, Intellect Global Consumer Banking (iGCB). Intellect received the highest score possible (5/5) in the standard off-the-shelf banking capabilities, planned enhancements, planned architectural/technological enhancements, and execution roadmap criteria.
The Forrester retail report quotes about Intellect Design Arena, “The DBPP convinces with broad and rich retail and business banking capabilities, strong pricing capabilities, and a largely microservices-based architecture.” It further adds that Intellect’s product roadmap “positions the vendor well for the future, with differentiating capabilities such as ESG compliance and AI- powered operations.” Forrester also mentions Intellect as a “good shortlist candidate for banks that look for a flexible vendor with modern architecture and that have a strong governance process in place.”
Commenting on the recognition, Rajesh Saxena, CEO,Intellect Global Consumer Banking (iGCB), said, “We
believe our position as a Leader in the retail banking report is a testimony to our long-term vision and commitment to delivering best-in-class banking experience to retail banks globally. We do this through the winning combination of the future-ready, API-led Microservices-based architecture and the most comprehensive, contextual, and cloud-native platform. The recognition builds our confidence towards building a coreless banking ecosystem which can help banks and financial service providers innovate with agility.
About Intellect Design Arena Limited
Intellect Design Arena Ltd. has the world’s largest cloud-native, API-led microservices-based multi- product FinTech platform for the Global leaders in Banking, Insurance and Capital Markets. It offers a full spectrum of banking and insurance technology products through its four lines of businesses – Global Consumer Banking, Global Transaction Banking, Risk, Treasury and Markets, and Insurance. With over 30 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking to create cutting-edge products and solutions for banking and insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. Intellect serves over 270 customers through offices in 57 countries and with a diverse workforce of solution architects, and domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit www.intellectdesign.com
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