Intellect Design Arena�announced a pioneering partnership with Vancity, Canada`s largest community credit union. This seven-year deal will see Vancity harnessing Intellect�fs Digital Engagement Platform (DEP) for Retail & SME digital experience alongside Contextual Banking Experience (CBX) for Commercial digital experience.With over 570,000 members and $35.5 billion in assets under administration, Vancity is set to redefine the digital landscape for its Retail, SME and Commercial members through this collaboration. The transformation will span engagement across Onboarding, Account Services (Current & Savings Accounts), Payments & Transfers, Cards, Digital Lending and Back Office. The deployment of DEP and CBX will be facilitated on a fully managed cloud platform, highlighting a strategic move towards scalable and secure digital member experiences.Composed with eMACH.ai, DEP & CBX together will enable Vancity to: - Offer comprehensive banking & lifestyle services including retail onboarding in minutes and SME onboarding in a day, personal financial management and social banking - Utilise a comprehensive set of user journeys or curate new ones from scratch in a codeless manner to meet the evolving needs of retail and SME members. - Provide complete visibility of member portfolios through intelligent dashboards and insightsPowered by Capital Market - Live News

Intellect Global Consumer Banking (iGCB), the consumer banking unit of Intellect Design Arena, announced the launch of the eMACH.ai Digital Engagement Platform (eMACH.ai DEP) at Money20/20 in Amsterdam. eMACH.ai DEP will redefine the region`s banking customer engagement landscape through its Codeless, Unified, Cloud-native platform. The platform offers a single origination platform for Retail, SME & Corporates and can co-exist with the older version. eMACH.ai DEP is designed to offer insights into the Retail, SME and Corporate banking customers` lifestyles and cater to their stated and unstated needs. This comprehensive platform touches every milestone of the customer journey with the bank across acquisition, engagement and retention. By harnessing the power of eMACH.ai (Events, Microservices, APIs, Cloud, Headless, AI), comprehensive user journeys and a codeless environment, DEP enables institutions to create signature engagement that resonates with customers throughout their banking lifecycle. eMACH.ai DEP is uniquely positioned to integrate seamlessly with any core banking system and/or third-party applications. Further, the open finance-enabled platform comes with a pre-integrated marketplace consisting of merchants, fintech, e-commerce, and entertainment partners to offer differentiated solutions and drive growth.Powered by Capital Market - Live News

Intellect Design Arena announced the launch of two cutting-edge AI-powered platforms: iCPX (Corporate Procurement eXchange) and iAPX (Accounts Payable eXchange) using eMACH.ai, the largest, most comprehensive and innovative open finance platform. These revolutionary platforms apply `First Principles` Thinking along with embedded GenAI from Intellect`s own Purple Fabric AI platform to extend Intellect`s presence in the Commerce ecosystem by transforming procurement and accounts payable operations for large and mid-sized enterprises.iCPX is the first-ever purpose-driven and open API-based source-to-pay platform aimed at reimagining the corporate procurement ecosystem. Cost overruns, inefficiencies and non-compliances are the main challenges in procurement due to a) need for cognitive decision-making b) manual content generation requirements and c) unavailability of insights at the right time for proactive process interventions. iCPX seamlessly embeds expert AI agents while fostering the API Economy, thus empowering businesses worldwide to achieve unparalleled efficiency, cost-effectiveness, and strategic agility. Apart from supporting both specifications driven procurement and catalog driven procurement, it has 100+ procurement mode variations built-in. With pre-built assets like 111 APIs and 17 microservices, iCPX drives significant value to clients by providing the ability to compose their own signature procurement solution quickly. iCPX is also enriched by Intellect`s experience of building and managing one of the largest procurement marketplaces in the world for more than 6 years.Accounts Payable (AP) processing is the backbone of financial operations for all organizationsto ensure efficiency in cash management function along with maintaining healthy supplier relationships. The foremost challenges in Accounts Payable encompass handling high volume of invoices in disparate formats and ensuring timely payments to suppliers, while ensuring compliance to all statutory requirements. iAPX, the world`s most comprehensive patented AI-led Accounts Payable Platform gives an unprecedented accuracy and efficiency to clients in the accounts payable process. By leveraging CDG (Cognitive Data Graph) Technology and powered by 12 global patented algorithms and 7 expert agents, iAPX eliminate duplication and discrepancies of invoices by up to 98%. Through cognitive decision making, automating time-consuming repetitive tasks and content generation, iAPX, reduces time, cost and compliance concerns of enterprises.Intellect will drive these products globally through its newly created business line Intellect Digital Technology for Commerce (iDTC). Powered by Capital Market - Live News

Intellect Design Arena announced the launch of the Canada eMACH.ai Cloud for Banks and Credit Unions. This comprehensive suite of products spans Digital engagement, Liquidity, Virtual Accounts and Core Banking (including Payments and deposits), with embedded AI, allowing financial institutions to tailor their digital experiences to meet and exceed customer expectations and fuel growth. All these products are Canada-ready and/or live with Canadian customers. This offering will allow institutions to achieve deposit growth, meet regulatory & industry compliance and also improve operational efficiency. Canada`s eMACH.ai Cloud has been designed for connected ecosystems. The future-focussed and open banking-enabled solution allows Banks & Credit Unions to partner with fintechs and rapidly launch innovative products that drive revenue, create operational efficiencies and provide an opportunity to attract new customers across all 3 segments - Corporate, SME and Retail.Commenting on the launch, Arun Jain, Chairman and Managing Director of Intellect Design Arena, said, �eMACH.ai is a groundbreaking and transformative suite designed on first principles thinking to simplify technology in the banking, credit union and insurance sectors significantly. With its extensive offering of 329 microservices, 535 events, and over 1757 APIs, it serves as the most comprehensive Open Finance Platform, enabling the creation of customer-centric solutions instead of traditional product-focused ones. We are excited to introduce the Canada-ready eMACH.ai Cloud for Banks and Credit Unions. Paired with eMACH.ai Experience Zones, banks & Credit Unions can gain first-hand experience with Intellect`s solutions from their clients` perspective. � He further added, �By introducing the Intellect Canada eMACH.ai Cloud, we are leveraging our extensive thirty years of domain expertise in technology and design thinking to cater to banks, Credit Unions and insurance sectors�Powered by Capital Market - Live News

Intellect Design Arena has allotted 39,427 equity shares on 24 May 2024 under ESOP. With this allotment, the paid up equity share capital has increased to Rs. 68,45,86,850/- divided into 13,69,17,370 equity shares of Rs. 5/- each. Powered by Capital Market - Live News