Intellect Digital Engagement Platform will enable the Bank, to capture a larger market share with fully digital experiences for their Retail, SME & Corporate Customers
United Arab Emirates, 7th August, 2023: National Bank of Umm Al Qaiwain (NBQ) selects Intellect Digital Engagement Platform (iDEP), a digital experience banking platform by Intellect Global Consumer Banking (iGCB) for its retail, SME and corporate clients.
NBQ is a public shareholding company incorporated in Umm Al Qaiwain. The Bank which is on a high growth trajectory would leverage iDEP to achieve the following strategic objectives:
- Increase market share by acquiring customers digitally in 3 minutes.
- Improve asset book with fully digital, end-to-end lending for Retail & SME customers.
- Make use of readily available domain Microservice like real-time credit analysis, contextual cross-selling, customer 360, expense tracker, personal finance management and more.
- Enabling customers to create contextual experiences themselves across any device or channel by adapting the readymade templates or building on top of the platform.
- Transform digital experience progressively with a fully composable platform.
iDEP is a comprehensive platform built on eMACH.ai architecture that helps banks and financial service providers deliver seamless and personalized experiences to their customers and bank employees across all channels. This microservices based platform with API-first design, supporting Open Banking standards consists of various domain services which are pre-configured with business rules, APIs and process flows. Banks and financial entities have the flexibility to select the domain services as per their requirement out of our product catalog and create signature experiences for their Customers by using our low code-no code platform.
Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking (iGCB), said, “A great digital experience can completely change the game for banks. Our Digital Engagement Platform makes it easy for banks to bring their vision to life. Furthermore, it ensures that the bank is ready to embrace Open Banking and Open Finance initiatives.”
Adnan Al Awadhi, Chief Executive Officer, in National Bank of Umm Al Qaiwain said, “Transforming digital experience for our retail, SME and corporate customers was critical for us in order to grow quickly. We were looking for a platform which allows us to reach new customers through a world-class experience. We were impressed by iDEP’s capabilities and the team’s long-term partnership-based approach.”
About National Bank of Umm Al Qaiwain psc (NBQ), is a Public Shareholding Company incorporated in Umm Al Qaiwain by Amiri Decree Number (1) on January 5, 1982 issued by His Highness, the Ruler of Umm Al Qaiwain and commenced its operations with effect from August 1, 1982. The Local government of Umm Al Qaiwain is the largest shareholder and promoter of the bank.
The bank is engaged in providing retail and corporate banking services through a network of 11 branches in U.A.E
The bank maintains consistently high capital adequacy and liquidity ratios which demonstrate the financial resilience developed through robust corporate governance and financial disciplines.
About Intellect Global Consumer Banking (iGCB)
iGCB, the Retail and Central Banking Solutions arm of Intellect, offers end-to-end Contextual Banking suite for retail and corporate banking across Core Banking, Lending, Cards, Digital Banking, and Central Banking. Its unique blend of integrated functionality and agility is made possible by its Microservices-based, API-first, cloud-native architecture with powerful integration capabilities. iGCB brings to the table a deep knowledge of the developed and developing financial market space and seeks to be the Innovation Partner for those who are passionate about transforming the future of fintech!
About Intellect Design Arena
Intellect Design Arena Ltd. has the world’s largest cloud-native, API-led microservices-based multi-product platform for Global leaders in Banking, Insurance, and Capital Markets. eMACH.ai, the most comprehensive open finance platform is at the forefront of the BankTech Wave 5, a significant phenomenon that enables banks and financial institutions to move from product and process to design and experience to compose their unique “My Signature Solution”. With over three decades of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives. It offers a full spectrum of banking and insurance technology products through its three lines of businesses i.e. Intellect Global Consumer Banking (iGCB), Intellect Global Transaction Banking (iGTB), and Intellect AI.
Intellect pioneered Design Thinking to create cutting-edge products and solutions for banking and insurance, with design being the company’s key differentiator in enabling digital transformation. FinTech 8012, the world’s first design center for financial technology, reflects Intellect’s commitment to continuous and impactful innovation, addressing the growing need for digital transformation. Intellect serves over 270 customers through offices in 57 countries and with a diverse workforce of solution architects, and domain and technology experts in major global financial hubs around the world. For further information on the organisation and its solutions, please visit www.intellectdesign.com
