Intellect Design Arena’s stock jumps after banking arm secures contract from VakifBank International AG
Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Ltd, has announced that VakifBank International AG, part of Türkiye Vakiflar Bankasi TAO has chosen iGCB’s platforms’ Intellect Digital Core (IDC) and digital lending to transform its overall banking.
According to the press statement, VakifBank International AG, headquartered in Austria and present in Hungary, will leverage eMACH.ai-based digital core and lending platform to launch products and features through the composable architecture-based platform, manage and reduce inactive customers through churn analysis, increase asset book with end-to-end digital lending, and start banking operations in Hungary.
Commenting about the development, Rajesh Saxena, Chief Executive Officer, iGCB, Intellect Design Arena Ltd, said, “We are delighted to have been selected by VakifBank International to transform its banking operations and offer superior customer experience, efficiency, and agility. We are confident that our solutions will help VakifBank International achieve its vision of becoming a leading digital bank in the region and beyond.”
Taner Ayhan, CEO of VakifBank International AG, said, “iGCB’s Digital Core and Lending platform offers us the flexibility, scalability and innovation that we need to meet the evolving needs and expectations of our customers, while also optimising our operational efficiency and compliance. We are excited and look forward to working with iGCB to create a seamless and superior banking experience for our customers.”
Intellect Design Arena stock traded at ₹987.45 on the NSE, higher by 4.23 per cent, as of 12.05 pm on Wednesday.