Intellect Global Consumer Banking, the consumer banking arm of Intellect Design Arena Limited, today announced the launch of eMACH.ai, the world’s largest Open Finance based Core Banking Platform On Cloud with a pre-integrated Marketplace for the UK  and Europe markets. The platform is hosted on AWS cloud and empowers financial organisations to design signature products and deliver contextual experiences for their customers throughout their life journey. The platform is the most comprehensive in the industry and covers current account, savings account, deposits, lending, cards, payments, trade finance, treasury and digital banking. 

eMACH.ai is the world’s largest Open Finance Platform, to design the future of financial institutions with future-ready technology solutions. Based on the five principles of configurability, richness,  scalability, ease of integration, and composability, eMACH.ai helps banks create their own ‘My  Signature Solution’ by harnessing the power of artificial intelligence and optimising operations. 

The future-ready Core Banking Platform is event-driven, microservices-based, API-enabled, cloud-native, and headless with underlying AI models (eMACH.ai), which enables agility, scalability, and faster time-to-market for financial institutions. 

It provides financial institutions with: 

∙ An end-to-end Comprehensive Banking Platform 

∙ Composability of autonomous business componentsfor curating complete financial  solutions 

∙ A flexible and adaptive commercial model enabling banks to ‘Pay As You Grow’ 

∙ AWS Cloud Hosting – Reduce Business and Technology Risks, Lower maintenance costs,  increase agility and scalability 

∙ Enable Sustainability through ESG rule engine in compliance with global standards ∙ Value Creation with UK & Europe-ready Marketplace 

With this, banks can onboard a customer in three minutes, leverage and integrate with Fintechs to offer Deposits through Aggregators, offer services outside Bank’s core strength, Drive 'Application To  Sanction’ in minutes, offer unique credit experiences like Buy Now Pay Later and more.

"The launch of this platform is a significant milestone for us," said Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking (iGCB).  

"eMACH.ai open finance-enabled core banking platform with pre-integrated marketplace for UK & Europe ready democratises the financial services space. The platform enables banks to connect with partners and drive value creation for their discerning customers. It democratises the financial services space by creating a level playing field for all types of banks in the UK and Europe, giving them equal access to opportunitiesto launch products fast, leverage the  pre-integrated partner ecosystem, scale on the cloud, design and deliver contextual experiences to  their customers. Eventually, banks can create their signature banking solution through our new  Intellect’s Open Finance platform." 

The Platform is fully compliant with UK, EU, and Nordic regulations, including regulations for data privacy, anti-money laundering, and consumer protection. It also adheres to messaging standards. The  platform supports various payment rails and offers a payment rail-agnostic approach, allowing users to choose their preferred payment method.