Intellect Design Arena Secures ‘Destiny Deal’ with National Bank of Umm Al Qaiwain

National Bank of Umm Al Qaiwain (NBQ) has selected Intellect Digital Engagement Platform (iDEP), a digital experience banking platform by Intellect Global Consumer Banking (iGCB) for its retail, SME and corporate clients. NBQ is a public shareholding company incorporated in Umm Al Qaiwain. iGCB is the Retail and Central Banking Solutions arm of Intellect Design Arena.   

iDEP is a comprehensive platform built on eMACH.ai architecture that helps banks and financial service providers deliver seamless and personalized experiences to their customers and bank employees across all channels. This microservices-based platform with API-first design, supporting Open Banking standards consists of various domain services which are pre-configured with business rules, APIs and process flows. 

Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking (iGCB), said, “A great digital experience can completely change the game for banks. Our Digital Engagement Platform makes it easy for banks to bring their vision to life. Furthermore, it ensures that the bank is ready to embrace Open Banking and Open Finance initiatives.” 

Intellect Design Arena Limited works globally in the fields of Financial Technology for Banking, Insurance, and other Financial Services. 

The company has a comprehensive portfolio of products across Global Consumer Banking, Central Banking, Risk & Treasury Management, Global Transaction Banking, and Insurance and is also engaged in the business of software development. 

Today, the stock opened at Rs 695.05, with a high and low of Rs 709.90 and Rs 692.55. The stock closed trading at Rs 697, up by 0.64%. 

The stock has a 52-week high of Rs 715.35 and a 52-week low of Rs 388. The company has a ROCE of 18.9% and an ROE of 13.8% with a market capitalisation of Rs 9,513 crore. 

In the last six months, the shares of the company have given about 50% returns, and Investors should keep a close eye on this stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.