By – Michael Devlin, SVP – Business Development, iGCB, Intellect Design Arena
It matters because The Medium Is The Message…
That phrase, popularized by Marshall McLuhan in his 1964 book Understanding Media: The Extensions of Man, is an expression whose truth has stood the test of time.
McLuhan believed that the nature of the medium being used to share a message (in our world today APPs) was more important than the actual content of the message being conveyed. Why? Because the medium places a filter on a message in a way that significantly influences how the message is interpreted. This is compounded even more by the constant evaluations consumers make of how information is presented to them by each app they use, every second of the day.
Credit Unions can win in the banking space because, like all Fintechs, they place the member experience first and strive to offer a contextual and personal experience. They are not rooted in the technological past with monolithic systems that need updating and maintenance. Today, leveraging Intellect Designs eMACH.ai platforms Credit Unions can leapfrog into the future.
At Intellect Design our suite of platforms and products that spread across Core Banking, Lending, Cards, Treasury, Digital Banking Transformation, and Central Banking are built on eMACH.ai (event-driven, micro-services-based, API-enabled, cloud-native, headless with underlying AI models). Because of this structure, Credit Unions can pick and choose the relevant micro-services (ie product structures and member journeys) that best suit their member needs and Credit Union growth aspirations. Think of it as building your digital Credit Union your way. Our Open Finance enabled Retail Banking Platform enables Credit Unions to architect their signature offers & solutions across Core Banking (Savings, Deposits, Payments, Cards, Lending, Trade Finance, Treasury), Credit and Digital Banking.
Our eMACH.ai structure allows Credit Unions to leverage the world’s largest, most comprehensive, and innovative Open Finance Platform with domain and technology embedded to compose your own unique Credit Union.
- Event-Driven Architecture – Architectural Contextualization through Event Triggers and Event Queues
- Microservices – Architectural Composability through Componentisation of Functionality to Independently Manageable Microservices
- Open API Framework – Architectural Extensibility through Open APIs and Democratisation through API Exchange Portal
- Cloud-Native & Cloud-Agnostic – Cloud-Native Architecture combined with Proven Implementation Experience with Multiple Cloud Partner
- Headless Capability – Composable set of Business Components at the heart of Banks’ IT systems with highly Curated Integration to Front-End and Third-Party Systems
- Embedded Artificial Intelligence – Use of Artificial Intelligence through Machine Learning and Robotic Process Automation in select User Journeys to Power Customer Experience, Efficiency, and Usability.
Next week we will share how to leverage eMACH.ai to win in the consumerization of Commercial Banking.
Intellect is proud to participate as a Silver Sponsor at the 2023 World Credit Union Conference, taking place from July 23-26, in Vancouver, Canada. Join us at Booth No.103 where our experts will showcase how our open finance-enabled platforms can enable credit unions to stay ahead of the curve and deliver exceptional digital banking experiences to their members.
Book a meeting here: https://www.igcb.com/events/wccu2023/