Intellect ranked #1 at IDC Financial Insights FinTech Rankings Real Results Awards 2016 for its core banking implementation at Sonali Bank
Recognized for its ability to significantly improve enterprise efficiency and customer experience
Chennai (India), October 06, 2016
Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, is the proud winner of two awards at the IDC Financial Insights FinTech Rankings Real Results Awards 2016. Intellect was voted the Overall winner and winner in the ‘Enterprise Efficiency’ category for its Core Banking System (CBS) implementation at Sonali Bank, which is the largest state owned commercial bank in Bangladesh.
Sonali Bank which has over 1200 branches across Bangladesh was scouting for a centralized online, real time banking platform that could provide enhanced functionality and superior customer experience. Designed with the customer at the center, Intellect Core Banking System (CBS) met all its requirements while also providing the robustness and scalability for future expansion.
Commenting on the recognition, Md. Shameemul Haque, Deputy General Manager, IT Division, Sonali Bank Limited said, "Intellect's CBS implementation helped us achieve our twin targets of enhancing enterprise efficiency and customer experience. We are extremely happy to have partnered with Intellect in our digital transformation journey."
Intellect’s CBS implementation marks a key milestone in the journey of Sonali bank’s 'Primary Banker' vision. Ability to quickly launch new products also resulted in an immediate and consistent increase in its customer base. This technology transformation initiative has equipped Sonali Bank to compete directly with Private Commercial Banks while also providing efficient services to its existing customers.
Jerry Silva, Global Banking Research Director for IDC Financial Insights, said, “ IDC Financial Insight Real Results program aims at drawing case studies from around the world that showcase the effective and measurably beneficial use of technology in financial services. We would like to congratulate Intellect Design Arena for their continued success in helping banks across the globe to achieve quantifiable success.”
Commenting on this recognition, Rajesh Saxena, Chief Executive Officer, Global Consumer Banking, Intellect Design Arena Ltd said, “Designed by bankers, Intellect® CBS is a highly scalable core banking platform that caters to both private and public sector banks across geographies. We are happy to have received the award for our CBS implementation at Sonali Bank. With the implementation of integrated online real-time system the bank has been experiencing enormous traction in Customer Onboarding and has been able to provide superior banking experience for its customers. These awards reinforce our determined efforts to equip banks and financial institutions in an evolving digital era to engage with its customers on a real-time basis.”
About Intellect Design Arena Ltd:
Intellect Design Arena Ltd., a specialist in applying true Digital Technologies, is the world’s first full spectrum Banking and Insurance technology products company, across Global Consumer Banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets (iRTM) and Insurance (Intellect SEEC). With over 25 years of deep domain expertise, Intellect is the brand, progressive financial institutions rely on for digital transformation.
Intellect pioneered Design Thinking to create cutting-edge products & solutions for Banking and Insurance, with design being the company’s key differentiator in enabling transformational initiatives. FT8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. Intellect generates annual revenues of more than USD 124 million, serving more than 200 customers through offices in 40+ countries and a diverse workforce of more than 4,000 solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit intellectdesign.com.
About IDC Financial Insights
IDC Financial Insights assists financial service businesses and IT leaders, as well as the suppliers who serve them, in making more effective technology decisions by providing accurate, timely, and insightful fact-based research and consulting services. Staffed by senior analysts with decades of industry experience, our global research analyzes and advises on business and technology issues facing the banking, insurance, and securities and investments industries. International Data Corporation (IDC) is the premier global provider of market intelligence, advisory services, and events for the information technology market. IDC is a subsidiary of IDG, the world’s leading technology, media, research, and events company. For more information, please visit www.idc.com/financial, email firstname.lastname@example.org, or call 508-620-5533