Intellect Design Arena bags order from Indian Bank, shares hit 52-week high

It stated that Indian Bank, with a network of 4,900 ATMs and 5,798 domestic branches, has taken on the objective of digital transformation by leveraging technology.

Arun Jain of Intellect Design Arena told CNBC-TV18 that the eMACH.ai custody edge platform order is one of the signature deals in Europe. He added the overall deal value in Europe could be as high as Rs 1,000 crore over 10 years.

Intellect Design will provide omni-channel access across desktop, mobility, host to host and API platforms. It will also allow a treasury persona aligned dashboard to drive contextual banking experience, extensive coverage of payments across electronic and physical channels and contextual use cases for bank and corporate personas across mandate, cashflow forecasting and reconciliation.

Its product suite will also help in the coverage of multi-modal collections offerings for Indian Corporates (mandate based collections, electronic variants cash/cheque collections, doorstep banking, cash delivery) and comprehensive bill collections platform will help channel agnostic bill orchestration, collections and settlement for anchor billers.

Intellect Design shares surged nearly 5% to hit a new 52-week high of ₹790 on BSE in morning trade. The stock has risen 101% from its 52-week low of ₹388 hit on March 16, 2023.

Arun Jain, CMD of Intellect Design Arena, discussed the collaboration with Europe-based OTP Bank in an interview with CNBC-TV18.

Intellect Design Arena Ltd has the world’s largest cloud-native, API-led microservices-based multi-product platform for global leaders in banking, wealth management, insurance, and capital markets.

The stock was trading 3.87% higher at ₹777.45 apiece on BSE at 12.01pm.