Intellect Global Consumer Banking (iGCB), the consumer banking arm of Intellect Design Arena Limited, has launched its Open Finance Enabled Retail banking platform built on eMACH.ai at Money20/20 in Amsterdam. The new Retail Banking Platform empowers banks to create unique products and curate experiences by partnering with country-ready marketplace players. The platform encompasses end-to-end Retail Banking across Savings,  Deposits, Payments, Cards, Lending, Trade Finance, Treasury and Digital Banking. 

The retail banking platform is built on eMACH.ai (event-driven, microservices-based, API-enabled,  cloud-native, and headless with underlying AI models). Being API-first with over 285 ready-to-use  Microservices and the ability to connect with 1,214 APIs, the platform enables banks and financial  service providers to: 

● Compose autonomous business components for curating complete financial solutions ● Reduce Business and Technology Risks, lower maintenance costs, and increase scalability  with cloud hosting 

● Enable Sustainability through AI-based ESG rule engine in compliance with global  standards 

● Go-to-market faster with a country-ready Marketplace 

The platform is available on a flexible and adaptive commercial model enabling banks to ‘Pay As  You Grow’. Banks will be able to on-board customers in three minutes as well as integrate with  FinTechs to offer products like deposits through aggregators, extend services beyond Bank’s core strength, drive ‘Application To Sanction’ in minutes, offer unique credit experiences like Buy Now  Pay Later and more. Just in a few days banks can launch new products and collaborate with the vast network of ecosystem players seamlessly. All this is powered by this specialised No code - Low code platform. 

The platform was launched at Money20/20 in Amsterdam where the attendees’ experienced unique ways of creating signature experiences through a live sandbox, tactile microservices table and compose-it-yourself perfume bar.

Intellect Global Consumer Banking Team at Money20/20 during the launch. 

From left to right: Avik Dasgupta, VP, Marketing | Rikard Redin, Business Development Manager – Nordics |  Viral Khandwala, Head, Engineering | Balaguru Ramachandran - Lead Architect, CBX Digital Platform |  Selvakumaran S, Business Head - Central Banking, Capital Markets & Enterprise Solution Consulting | K  Srinivasan, President & Regional Head, UK & Europe | Abhishek Verma, VP, Sales, Europe | Vikas Tripathi SVP,  Sales, UK | Mithu Gupta, CMO & Head, User Experience 

Rajesh Saxena, Chief Executive Officer, Intellect Global Consumer Banking (iGCB), said, “Our new  Open Finance enabled Retail Banking platform opens up new opportunities for banks in global  markets, representing the future of banking. Giving financial institutions access through a  centralised eMACH.ai platform that is composable and extensible allowing endless possibilities.” 

He further added, “Technology has been made highly accessible for banks enabling rapid  deployment of business scenarios.”  

The news follows the launch of iGCB’S Open Finance enabled Core Banking Platform on Cloud in  April 2023 in London.