Intellect launches eMACH.ai-composed Intellect Digital Core for India’s co-operative banks

By Gloria Mathias

Intellect Design Arena has announced the launch of the Intellect Digital Core (IDC) for Cooperative Banks in the Indian market.

Cooperative banks play a crucial role in the Indian financial system. Over the years, they have encountered several obstacles: limited access to modern financial services, competition, and regulatory constraints. However, advanced technology can help them compete in the rapidly evolving digital banking landscape.

The solution enhances the operations of Cooperative Banks as follows:

• Core Banking: Ensures smooth deposit management, cash handling, and real-time General Ledger services, covering CASA, Customer Management, Alerts & Notifications, and more
• Loan Management System: Features advanced origination, limit and collateral modules and streamlines the efficient booking of various loans, including retail and gold loans
• Digital Engagement Platform (DEP): Offers a wide array of services, providing seamless access to account information, loan details, deposits, and queries, with integrations to services such as BBPS and IMPS
• Trade Finance: Simplifies the bank’s trade-related financial transactions, streamlines bill management for both inward and outward bills, and enhances the efficiency of banking operations.
• ARX: Offers robust two-factor authentication ARX ensures a secure login experience. The back-office application within ARX facilitates Identity Access Management (IAM) and system administration.
• Domestic Treasury: Facilitates secure interbank transactions, contributing to the overall stability and security of your banking operations.

Ramanan SV, CEO-India & 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 of 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.”