Intellect ranked #1 in 3 categories at IDC Financial Insights FinTech Real Results Awards

Awarded for implementations that enabled measurable benefits to Ahli Bank and National Bank of Kuwait

Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, has won three awards for the year 2015 at the inaugural IDC Financial Insights FinTech Real Results Awards. IDC FinTech Real Results Awards recognizes IT providers that have enabled real, measurable, and future-enabling change for their clients in the global financial industry.

For its implementation at Ahli Bank, Intellect’s Global Consumer Banking (iGCB) division was recognised for delivering incomparable “Enterprise Efficiency” and awarded top score in the “Overall Category”. Intellect’s Global Transaction Banking (iGTB) was awarded for delivering exceptional “Customer Experience” for their work at the National Bank of Kuwait.

The lending process of Ahli Bank was completely revitalized by iGCB’s Intellect Lending suite. The end-to-end solution, accessible through multiple channels, reduced turnaround time of various retail loans. Pushing the bank’s objective of providing best-in-class service to customers, it multiplied cross-selling capabilities of the bank with instant in-principle approval, thus giving the bank a digital competitive edge in Qatar. This implementation won Intellect the top score in the ‘Overall Category’ and ‘Enterprise Efficiency’.

With iGTB, the National Bank of Kuwait was the first to implement a true STP process for Salary File processing in the country. The customer acquisition and onboarding process was also simplified and the turnaround time to onboard a customer and initiate the first salary file upload by the customer was drastically reduced. From a superior experience at such critical points of interaction, the bank saw a massive increase in its customer base. For making customers the growth engine of the bank, this implementation won the ‘Customer -Experience’ award.

Jerry Silva, Global Banking Research Director for IDC Financial Insights, said, “IDC Financial Insights’ first Real Results program proved extremely successful, drawing case studies from around the world that showed the effective and measurably beneficial use of technology in financial services. We particularly want to recognize Intellect Design Arena, Ltd. for their selection as the #1 winner for Enterprise Efficiency and #1 win Overall with an example of a real-world, measurable difference at Qatar-based Ahli bank by significantly improving the efficiency of their lending operations. Job well done.”

Adding on he said, “We congratulate them on winning the Customer Experience award for their work at National Bank of Kuwait. By implementing straight through processing for their SME customers’ salary portal, Intellect Design Arena brought a measurable improvement to the bank’s business customers, an important but often overlooked market.”

Jaideep Billa, CEO, iGCB, Intellect Design Arena Ltd. said “Our core strategy is to foster digital transformation at banks. These awards reinforce our focus to help banks in their digital endeavors. Enterprise efficiency and customer experience are critical in empowering banks to take informed decisions in real-time particularly in an increasingly competitive banking environment.”

Commenting on the iGTB Award, ManishMaakan, CEO, iGTB, Intellect Design Arena Ltd. said, “We focus on empowering banks in the changing economic and regulatory environment with the robust and advanced technology which will give them a competitive edge. Successful implementations become a reality when benefits are realized and banks is able to provide a high level customer experience which translates into a satisfied customer. We are extremely happy to have achieved our customer’s goal of providing unparalleled customer experience.”

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