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Intellect Design Arena partner with Canada’s Vancity

25 Jun 2024 , 02:05 PM

On Tuesday, cloud-native fintech business Intellect Design Arena Ltd announced a seven-year relationship with Canada’s largest community credit union, Vancity. As part of the agreement, Vancity will use Intellect’s Digital Engagement Platform (DEP) and Contextual Banking Experience (CBX) to improve the digital experiences of its retail, SME, and commercial customers.

With over 570,000 members and $35.5 billion in assets under administration, Vancity is looking to transform its digital offerings.

The partnership would allow Vancity to provide integrated digital experiences across onboarding, account services, payments and transfers, cards, digital loans, and back-office operations, Intellect Design Arena stated in a stock exchange filing on Tuesday, June 25.

Vancity will provide its members with a scalable and secure digital environment through the use of Intellect’s DEP and CBX platforms, according to the statement.

Rajesh Saxena, CEO of Intellect Global Consumer Banking at Intellect Design Arena Ltd, commented on the development, saying, “This partnership exemplifies our shared aim of delivering great member experiences via innovation and digital transformation. Our DEP and CBX platforms are built to meet the dynamic needs of today’s financial institutions, and we’re interested to see how this collaboration can expand Vancity’s services.

The proposed change, which is powered by Intellect’s eMACH.ai platform, promises a variety of benefits, including complete service, user journey personalisation, and an intelligent dashboard.

According to Intellect Design Arena, this relationship sets a new standard for digital banking innovation by stressing the importance of strategic collaborations in producing better value and experiences for credit union members worldwide.

The deployment of DEP and CBX on a fully managed cloud platform demonstrates Vancity’s dedication to offering secure, efficient, and cutting-edge digital services to its customers.

At around 2.01 PM, Intellect Design Arena was trading 1% higher at ₹1,076.65 per piece, against the previous close of ₹1,066 on NSE. The counter touched an intraday high and low of ₹1,118.50, and ₹1,071.65, respectively.

For feedback and suggestions, write to us at editorial@iifl.com

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