Intellect Design Arena Ltd Company Summary

Intellect Design Arena Ltd Summary

Intellect Design Arena Limited (formerly known as Fin Tech Grid Limited) was incorporated under the provisions of the Companies Act, 1956 in April, 2011 and has its registered office in Chennai. The Company has a comprehensive portfolio of products across Global Consumer Banking, Central Banking, Risk & Treasury Management, Global Transaction Banking and Insurance and is engaged in the business of software development. On 18th March 2014, the Board of Polaris Consulting & Services Limited (then called Polaris Financial Technology Limited) approved a Scheme of Demerger through which its product business would get divested into its Company. The Scheme, after receiving regulatory clearances and shareholders endorsement, was approved by the Madras High Court vide its Order dated 15th September 2014 with an effective date of 1st April 2014. The Company took necessary steps to give effect to the Order, including allotment of shares and formation of a Board of Directors, followed by listing in the National Stock Exchange and the Bombay Stock Exchange on 18th December 2014.During the year 2016, M/s Intellect Payments Limited and M/s Intellect India Limited have been incorporated as direct subsidiaries of Intellect Design Arena Limited. In 2016-17, the Company commenced the Intellect iGTB - Oxford Leadership programme. It commenced design ofGo-To-Market strategies for the products. On the IP front, it commenced investments into Artificial Intelligence and Machine Learning, spotting the trend early in the curve.In May, 2020, Company launched two products spotted in the forex trading and Asset Liability Management spaces - CBX FX and Contextual ALM. It launched iTurmeric; Will Deliver Offerings Through IBMs Financial Services-Ready Public Cloud. CBX-O, an end-to-end loan origination platform, was launched to empower the customers with improved data analysis and automation for delivery of smarter & faster decisions. It launched the Contextual Sentiment API on AWS platform. ARX, a new integrated suite of security services was launched to redefine security with modern identity. It released new versions of low-coding technology - Canvas 19. It launched an Integration platform - Olive Fabric. The Intelligent Data Exchange (IDX), which combines data uptake, validation and enrichment, was market-tested. In continuation to Wealth 2.0 strategy, it launched digital Wealth Cronus, an Indian market specific platformDuring 2023, the Company launched Intellect SEEC, IntellectAI. It built a strong repository of IP commencing with Products for each of the Banking verticals and Insurance went on to upgrade some of those to Platforms, launched iTurmeric -MACH composable platform for the design of Experience, Operations and Integration with the Ecosystem. It also launched eMACH.ai - the MACH-compliant, open architecture-based, composable platform in February, 2023. A Business Impact Technology launched for the banks and financial institutions worldwide in FY24. The Company completed multiple cohorts of technology certification in the Composability Platform and AI Platform as well as trained the Leadership and mid Management in refresher Leadership Skills. The AI Business added more customers in the US based on the referenceability of the current installs. With the expansion and distribution identified as a key priority, Company started yielding results with Partner arrangements in place with Global System Integrators,Big 4 Audit Firms, Global Consultants and Cloud Service Providers. New business platforms like iGPX - Government Procurement Exchange,iCPX - Corporate Procurement Exchange and iAPX - Accounts Payable Exchange launched during the year 2024.