Vancity and Intellect Design Arena Join Forces for Digital Banking Innovation

On June 25, 2024, Intellect Design Arena Ltd revealed a groundbreaking collaboration with Vancity, Canada’s largest community credit union. This 7-year partnership will involve Vancity utilising Intellect’s Digital Engagement Platform (DEP) to enhance digital experiences for retail and small business customers. Additionally, Vancity will implement Intellect’s Contextual Banking Experience (CBX) to improve digital interactions for its commercial clients.

With over 5,70,000 members and managing $35.5 billion in assets, Vancity plans to revolutionise digital services for its retail, small business, and commercial members through this partnership. They aim to enhance various aspects such as opening accounts quickly, managing accounts, making payments, handling cards, offering digital loans, and improving back-office operations. By using DEP and CBX on a fully managed cloud platform, Vancity aims to ensure scalable and secure digital experiences for its members.

By integrating eMACH.ai, DEP, and CBX, Vancity will

• Provide extensive banking and lifestyle services, including rapid retail account opening and SME account setup within a day, personal finance management, and social banking.
• Customise user experiences effortlessly without coding, adapting to the changing needs of retail and SME members.
• Offer clear insights into member portfolios through smart dashboards and analytics.

Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking (iGCB), Intellect Design Arena Limited, said, “We are thrilled to join hands with Vancity, a respected leader in the credit union space. This collaboration is a testament to our shared vision of delivering exceptional member experiences through innovation and digital transformation and our commitment to the Canadian market.”

He further added, “Our DEP and CBX platforms are designed to cater to the dynamic needs of modern financial institutions, and we’re excited to see how this partnership will enable Vanity’s offerings. This partnership is a pivotal moment for Intellect and Vancity. It sets a new benchmark in digital banking innovation, showcasing the potential of strategic collaborations in creating enhanced value and experiences for credit union members worldwide.”

About Intellect Design Arena Ltd

Intellect Design Arena Ltd leads in providing a cloud-native platform built on microservices and APIs, offering a wide range of products for global leaders in wealth management, insurance, banking, and capital markets.

On June 25, 2024, the share price of Intellect Design Arena Ltd opened at ₹1,074.00, touching the day’s high at ₹1,118.50, as of 11:12 AM on the NSE.

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