Chennai (India), 21st January, 2021:
Intellect Design Arena Limited, a cloud-native, future-ready multi-product FinTech company for the world’s leading financial and insurance clients, strengthened its global presence after being chosen as the preferred partner by Germany’s leading e-commerce player, OTTO GmbH & Co. KG, for the digital transformation of their Payments and Financing platform.
OTTO is part of one of the largest and most successful e-Commerce companies in Europe. Otto Group, a globally active trade and service group with presence in more than 20 countries across European, American and Asian countries, is one of the biggest online retailers globally, with Payments being a strategic business segment, offering services such as integration and processing of common third party payment methods including installment payments and pre-payments.
The financing division of the client selected Intellect’s Digital Lending solution for the complete digitalization of their credit business. The lending solution, from Intellect’s robust IDC platform, promises a scalable, future-proof technology to support all forms of credit arrangements that the Client’s business requires – from simple financing arrangements to large volumes of retail customers including dunning, re-financing and factoring arrangements. The Digital Lending solution designed with API first strategy from Intellect is capable of managing the entire credit lifecycle from origination to maturity, offering a real time 360-degree view of customer’s credit portfolio.
Expressing his excitement on this win, Rajesh Saxena, CEO, Intellect Global Consumer Banking said, "We are deeply honored with this partnership. Our Digital Lending solution from the Intellect Digital Core platform is a combination of innovation, technology optimization and transformational customer experience. Intellect is the right sized partner that would empower the client to meet the challenges of technology, regulations and growing business and customer demands."
Intellect’s Digital Lending solution is designed to deliver a truly digital and contextual solution that empowers financial institutions to make real time, informed credit decisions, providing a holistic 360 degree view of the customer credit portfolio, at any given time. The platform is built around the DIY principle that allows financial institutions to create their own products anytime, anywhere and the API-first micro-services architecture ensures easy integration with internal and external systems, driving higher efficiency.
With more than 3 million articles from over 6,800 brands, OTTO (otto.de) is one of the leading German online shopping platforms, which will open up to even more brands and partners in future as part of its transformation. OTTO is a member of the Hamburg-based, multinational Otto Group and provides jobs for 4,900 people throughout Germany. In the 2018/19 financial year, OTTO achieved a turnover of 3.5 billion euros.
About Intellect Design Arena Ltd
Intellect Design Arena Ltd, a cloud-native, future-ready multi-product fintech platform for the world’s leading financial & insurance clients caters to the full spectrum of banking and insurance technology products company, across Global Consumer Banking, Central Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets, and Insurance. With over 25 years of deep domain expertise, Intellect is the brand that progressive financial institutions rely on for digital transformation initiatives.
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 centre for Financial Technology, reflects Intellect’s commitment to continuous and impactful innovation to address the growing need for digital transformation. Intellect serves over 240 customers through offices in 91 countries and with a diverse workforce of solution architects, domain and technology experts in major global financial hubs around the world. For further information on the organization and its solutions, please visit https://www.intellectdesign.com/.