Chennai (India), August 23, 2016:
Intellect Design Arena Ltd, a specialist in enabling true Digital Transformations across Banking & Insurance, is proud to announce that it has been recognized as a leader in Gartner’s Magic Quadrant for Global Retail Core Banking (GRCB). Gartner placed Intellect in the leaders’ quadrant for the sixth consecutive year. Intellect was assessed on the ability to execute and completeness of vision of its projects.
Commenting on the recognition, Jaideep Billa, President & CEO, Global Consumer Banking, Intellect Design Arena Ltd. said: “As one of the youngest retail core banking product vendors in Gartner’s Magic Quadrant to be recognized as a Leader for the 6th consecutive year, we believe that this recognition reiterates our ability to provide robust, scalable technology for seamless functioning of financial institutions across the globe. Our aggressive customer-centric design philosophy has enabled the engineering of agile holistic digital solutions, with full lifecycle enablement and industry-leading performance assurances.”
According to Gartner, "Leaders in the GRCB market tend to possess a high-order market understanding — that is, they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possesses software development quality certifications (such as CMMI) or is pursuing them. Without exception, the Leaders are progressively "thinking small" or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation."
Gartner says “The evaluation began with 40 product candidates for the 2016 Magic Quadrant, and resulted in a qualified group of 17 vendor/product offerings that represents the major movers in the retail core banking system market.” Gartner also says that “This Magic Quadrant assesses the suitability of core banking system providers and their product offerings to address current GRCB market trends. This evaluation uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities, and affirms their relevance to the changing conditions of the banking industry.”
Don Free, Research Vice President, Gartner stated in the report, “The core banking market demand for practical and enabling technology to support significant business initiatives, such as a digital banking strategy, is surging. Lack of agility and the high cost of technology are driving more banks to build the business case for core banking renewal.”
Intellect Digital Core, a web-enabled feature-rich solution which is truly Digital Inside and Digital Outside brings to its customers the power of a fully Digital Technology. Intellect Digital Core addresses the critical need for a scalable, flexible, and secure, customer centric core-banking platform that can help banks become the principal bank of every customer by redefining customer experience. It is a multi-currency, multilingual solution conceived and built with the anytime, anywhere customer in mind. Intellect caters to the entire range of banking solution requirements across various customer segments of a bank; both retail and corporate.
1Gartner, Inc., "Magic Quadrant for Global Retail Core Banking," Don Free, 21 April, 2016. (Formally Polaris FT)
Gartner does not endorse any vendor, product or service depicted in its research publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner research publications consist of the opinions of Gartner's research organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this research, including any warranties of merchantability or fitness for a particular purpose
About Intellect Design Arena Ltd
Intellect Design Arena Ltd, a specialist in enabling true Digital Transformations, is the world’s first full spectrum Banking and Insurance technology products company, across global consumer banking (iGCB), Central Banking, Global Transaction Banking (iGTB), Risk & Treasury Management (iRTM), and Insurance (Intellect SEEC). With over 20 years of deep domain expertise, Intellect is the brand, progressive financial institutions rely on for digital transformation initiatives.
Intellect pioneered Design Thinking for cutting edge products & solutions for Banking and Insurance, with design being the company’s key differentiator in enabling digital transformation. FT8012, the world’s first design centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation addressing the growing need for digital transformation. With over 200 implementations, the company’s performance is driven by over 3,000 Intellect solution architects, domain and technology experts, with a presence in major global financial hubs around the world and fully supported by design centers in multiple geographies serving as centers of innovation, collaboration and digital transformation, please visit www.intellectdesign.com