Intellect Design Arena powers digital transformation of Indian Bank with advanced cash management system
Intellect Design Arena Ltd, a leading cloud-native, future-ready multi-product FinTech company, has announced a pivotal partnership with Indian Bank. This collaboration marks a significant advancement in the Indian BFSI industry, as Indian Bank has chosen Intellect’s eMACH.ai powered Cash Management System for its Corporate Banking Modernization. This strategic move aligns with the cognitive enterprise vision, set to revolutionize transaction banking.
Indian Bank’s Network and Digital Ambitions:
Indian Bank, a premier government-owned entity in India, boasts a vast network of 4900 ATMs and 5798 domestic branches. With over 100 million customers, 41,000+ employees, and assets worth over USD 140+ Billion, Indian Bank has consistently been at the forefront of offering digital products and services. The bank focuses on leveraging operational efficiencies and expanding its brand reach to enhance customer experiences.
Project ‘INDLEAP’ and Digital Transformation Goals:
Under project ‘INDLEAP’, Indian Bank has embarked on a digital transformation journey, utilizing technology across transaction banking and supply chain management. This partnership with Intellect Design Arena introduces a suite of features, including omni-channel access, a treasury-aligned dashboard, extensive payment coverage, and more, catering to both bank and corporate personas.
Indian Bank Embraces FinTech Innovation with Intellect Design Arena’s Cash Management Solution
Intellect’s Comprehensive Cash Management Solution:
The Cash Management System provided by Intellect offers a full range of products and services for efficient bank receivable and payable processing. It includes electronic collections, mandate management services, cheque collection modules, doorstep banking services, and more. The platform is highly configurable, facilitating end-to-end automation and integration with commonly used ERP and accounting systems.
CEO’s Statement on the Partnership:
Ramanan S V, CEO of Intellect Design Arena Limited for India and South Asia, expressed pride in being the technology partner of choice for Indian Bank. He emphasized that Intellect’s selection underscores its commitment to cutting-edge technology and delivery excellence. This partnership is a testament to Intellect’s innovative technology, positioning Indian Bank at the forefront of digital enterprise innovation.
Global Recognition and Impact:
Today, more than 60% of the world’s top banks, including 8 of the top 10 Indian banks, are powered by Intellect’s transaction banking products and solutions. This partnership not only enhances Indian Bank’s capabilities but also solidifies Intellect Design Arena’s standing in the global FinTech space.