Intellect Design Arena bucks trend after collaborating with Microsoft


Intellect Design Arena rose 1.62% to Rs 829.30 after the company said it had partnered with Microsoft to establish cloud business banking transformation.

The company announced that Intellect Global Transaction Banking (iGTB) will integrate Microsoft Cloud for Financial Services to accelerate cloud adoption and digital transformation initiatives for corporate banks.

iGTB is the world’s first comprehensive global transaction banking platform from Intellect Design Arena.

The collaboration will see iGTB adopt Microsoft as its preferred cloud platform to remove traditional barriers to banking technology adoption, helping banks get to market 3-4x faster with liquidity cloud offerings, cash management, payments, trade finance and supply chain finance. to their corporate clients.

This collaboration is intended to drive sustained banking digitalization, help banks transform their corporate banking business models, modernize their cloud technology stacks, and utilize ready-to-use Banking-As-A-Service. job.

Banks can now access a secure and hyper-scalable bank-grade cloud infrastructure coupled with iGTB’s cloud-native banking technology to fully meet growing customer demands and regulatory needs, the company said in a statement.

Manish Maakan, CEO of iGTB, said, “This collaboration with Microsoft enables just that: worry-free security and scalability while enabling the bank to launch products 3-4 times faster, deploy updates and improve the customer experience quickly and easily. frees up capital, reduces the complexities and risks associated with traditional digital transformation, and significantly reduces the time to value creation. grow their transaction banking business at lower cost.”

Intellect Design Arena is the world’s leading fintech company that covers all banking and insurance needs with its wide range of products.

The company’s consolidated net profit jumped 25.5% to Rs 100.85 crore on a 33% increase in net sales to Rs 508.29 crore in Q3 FY22 compared to Q3 FY21.

Intellect Design Arena shares fell 1.97% in morning trading. The Nifty 50 index was currently down 198.80 points, or 1.16%, at 16,973.15.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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