Intellect Design Arena Ltd, a specialist in financial technology across banking and insurance sectors, on Wednesday said it would offer its Digital Core Solution IDC19.1 to UK-based The Commonwealth Trade Bank.
Through the initiative, Commonwealth Trade Bank is well poised to accelerate its digital transformation initiatives and drive its vision of becoming a leading technology enabled trade finance bank.
"We are delighted to partner with The Commonwealth Trade Bank on this significant Core banking deal", Intellect Design Arena Ltd.Global Consumer Banking CEO Rajesh Saxena said.
"With a strong alignment to the Bank's ambitious growth agenda, we believe our fully integrated IDC19.1 will support their vision of becoming an innovative and responsive digital bank", he said in a company release.
The Commonwealth Trade Bank has selected Intellect's fully integrated IDC19.1 solution, across corporate, digital channel, lending, treasury, domestic, cross border payments, retail deposits among others.
The Commonwealth Trade Bank CEO Peter Horton said "replacing our existing Core solution is a big step towards driving our transformation agenda.