RBI choses Intellect Design's Quantum Core Banking Solution; stock ends positive

4 Mar 2022 , 04:54 PM

In its press release on Friday, Intellect Design Arena Ltd. informed investors that the company has bagged a large multi-million destiny deal from the Reserve Bank of India (RBI). RBI has chosen Intellect’s Quantum Core Banking Solution upgraded version for powering the next stepping stone of their digital transformation journey.

RBI has decided to adopt the upgraded version of the award-winning Cloud-Native Intellect Quantum Core Banking solution to power the next stage of its digital transformation agenda. For this purpose, Intellect continues to be the trusted partner for the Central Banking Transformation at the Reserve Bank of India.

The next-gen Intellect Quantum Solution is built on cutting-edge API first, cloud-native and cloud-agnostic microservices architecture backed by a rich set of packaged business components.

Currently, Intellect is supporting the entire banking operation of RBI through its Quantum Central Banking Solution, popularly called as e-Kuber. The system has an exceptional benchmark of supporting over 100 million transactions and 30+ million ISO20022 payment messages on a peak day, the platform supports 250+ commercial banks, 35 state governments, and union territories along with several Central Government ministries.

Intellect Design Arena Ltd ended at Rs679.20 up by Rs22.75 or 3.47% from its previous closing of Rs656.45 on the BSE. The scrip touched an intraday high and low of Rs691.60 and Rs645.55 respectively.