iGCB Promise

In a fast paced world where banking industry is facing a real threat from the nimble and well-funded Fintech organizations, it is imperative to look at technology from this game changing perspective. For our industry, it is important to have a clear vision of where the banking is heading, so we can invest ahead of the curve.

This is our view of the future of Retail Banking:

1. First and foremost, The Bank has to become an integral part of the Customer's life style.
2. Consumerisation of User experience means that a Bank has to provide the experience that the customer now is used to – whether it is in Amazon or YouTube!
3. The Bank has to build offering strategies around micro-segmentation. It has to ‘’personalise’’ to a great extent and literally move from Mass bank to My bank’!
4. Everything to do with banking has to be truly real time! For this, the bank must be able to leverage data driven insights holistically.
5. It has to build strong digital marketing capabilities equalling the e-commerce giants
6. The bank must match the Cost Advantage being brought in by FinTech attackers. This also means its own Operations moves to Lean!
7. New technologies involving Artificial Intelligence and Machine Learning are simply taking over the world. Bots here, Bots there and now they seem to be everywhere. Gartner has predicted that by 2020, customers will manage 85% of their relationships with the enterprise without interacting with a human! And today, your mobile activity can actually be worked back to ascertain your credit-worthiness!
8. Block chain technology is creating the backbone of a new type of internet! It is emerging as a potentially disruptive force in multiple areas including financial services.
9. Financial inclusion and banking the unbanked is a huge agenda. 2 billion people across the world are unbanked giving us a feel of the opportunities for the bank. Last year alone, 700 million moved from unbanked to banked! And if we think this is restricted to growth markets, we have got it wrong.
10. In the midst of all this action, regulatory requirements are getting tighter and tighter! Regulatory policies are also getting deployed quicker than ever.

We looked at Digital much beyond the oft-heard channel transformation and Omni-channel. We foresaw many of the above trends in advance and invested passionately in building the Complete Digital banking suite, in order to help banks accelerate their digital transformation agenda and becoming integral to their client’s life, or in other words, become the Primary Banker to their clients.

1. Given our rich repertoire of expertise in serving global banks, we understood how most banks were shackled by the complexities arising from globalization, rampant innovation, multiple generations of technologies, mobility and the prohibitive costs of maintaining their current Core Systems. We leveraged Design thinking as the paradigm to tackle this complexity, holistically.
2. Our products have been designed not only to reduce the complexity in transformation, but the design incorporated agile frameworks that enable Speed & Ease of change. The Acid test for any design is its ability to respond to change & how quickly it is able to!
3. Given we had the advantage of looking at Digital banking in totality than piecemeal, inter-operability and ecosystem-integration were built-in. This results in unmatched ability for our customers to rapidly launch new products as well as integrate any new innovation quickly.

Thus, our products have design for Complexity Reduction & digital in their very DNA. One of the biggest benefits to the customer is we can implement, say, a Digital Core platform in 6 months flat!

Designed around Digital 360 approach, our products present the Best of both worlds, ie Customer Experience (Digital Outside) and Operational Efficiency (Digital inside) to our customer banks.

When the digital transformations began, most of the technology products that have been in existence for decades simply added a peripheral layer for channels. The problem with such incremental design is like sprucing up the living room at home and missing the kitchen, electricity and plumbing! Banks that had signed up for such technologies suddenly found that they did not have the backing of digital design or digital technology horsepower to give wings to their growth or business imagination. This gives our customers a huge advantage over our competitor products.

The second aspect of true Digital Orientation is Absolute Real-time! Real time GL means Zero reconciliation. Just imagine the Operational cost saves! Every key element in the bank can now be monitored, leveraged and controlled intra-day – whether it is liquidity management or risk management.

The third aspect is context-aware banking. Imagine role based apps that enable bank staff to do multiple roles. Or dashboards that give 360 degree view of customer to the bank or vice versa. Imagine an Adaptive product designer that allows bankers offer tailor-made loans or customized offers for micro segments or relationship based pricing.

Real time, Digital & Contextual is a powerful example of our Design thinking in action in our product suite.

The best validation for our approach to digital transformations came in the form of New customers, Global Analyst endorsements and client testimonials. Intellect was rated “LEADER” in Gartner Magic Quadrant, for the 6th consecutive year. We were ranked #1 at IDC Financial Insights FinTech Rankings Real Results Awards 2016, for the core banking implementation at Sonali Bank. We also won the Celent Model Bank for our landmark implementation at the Vietnam Bank of Social Policies. Intellect Quantum was successfully implemented in the Swedish Central Bank (Sveriges Riksbank), one of the oldest central banks in the world.

We have been steadily building a client base of 112 clients across 42 countries. We are privileged to be the chosen technology solution partners for Challenger banks, who are excited with our Digital Bank in a Box for quicker, go to market. Our unique ability to drive both Class Banking and Mass Banking with the same solution has been attracting prospects in the growth markets. Our Digital Lending solution with integrated Loan Origination, Loan Management and Collections has opened up the NBFC segment in India and Middle East, besides other emerging markets. We are specifically looking at Europe, Australia and Latin America as arrow heads for growth in the coming fiscal.

We have expanded our leadership team with bankers, digital specialists, solution architects and delivery experts who are focusing on accelerated implementation. As I write this note, with a passionate team, with a carefully chosen client landscape, a product suite designed to drive deep differentiation, I see very exciting times ahead.

Rajesh Saxena, CEO

Consumer & Central Banking