Intellect Design Arena gains on bagging digital transformation deal from Resurs Bank

Intellect Design Arena advanced 3.17% to Rs 683.30 after the company bagged a large multiple-year digital transformation destiny deal from Resurs Bank.

Sep 17, 2021 09:09 IST capital market

Intellect has signed a large multiple-year digital transformation deal with Resurs Bank, a Nordic bank with market leadership in sales finance business in Sweden, Norway, Denmark and Finland. The bank has chosen Intellect to implement Intellect Digital Core (IDC) and iKredit360.

The announcement was made after market hours yesterday.

Intellect Design Arena, a specialist in applying true digital technologies, is the a full spectrum banking and insurance technology products company, across global consumer banking, central banking, global transaction banking (iGTB), risk, treasury and markets, and insurance.

The companys consolidated net profit rose 73.03% to Rs 73.73 crore on a 18.06% increase in net sales to Rs 408.35 crore in Q1 FY22 over Q1 FY21.

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