Intellect Design Arena announced the launch of the Intellect Digital Core (IDC) for Cooperative Banks for the Indian market. This comprehensive, enterprise-grade banking technology solution is composed of eMACH.ai, the world's largest open finance platform engineered by the 'First Principles' Thinking for financial institutions to design future-ready technology solutions. Drawing on the composable and contextual core banking technology that runs some of the world's largest banks, Intellect brings the same expertise for cooperative banks as a Digital India initiative.
Cooperative banks play a crucial role in the Indian financial system. Over the years, they have encountered several obstacles: limited access to modern financial services, competition and regulatory constraints. However, advanced technology can help them compete in the rapidly evolving digital banking landscape. In the Report on Trend and Progress of Banking in India 2022-23, RBI stated that robust internal governance practices and continuous technological upgrades and innovations will help co-operative banks expand their operations and improve their financial health.
With three decades of domain expertise, Intellect continues to innovate and empower banks with advanced tools to unlock exponential growth opportunities. At the core lies the ethos of 'Design Thinking,' an approach ingrained in our DNA. With this in mind, Intellect launched Intellect Digital Core, tailored for Cooperative Banks and offering them a best-in-class enterprise-grade technology on a subscription basis.
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