Intellect launches

Monday 13 March 2023 13:29 CET | News

Fintech company Intellect Design Area has announced the launch of, an Open Finance platform with embedded artificial intelligence, powered by AWS. was designed to enable financial institutions the possibility to develop their solutions and products for banks and FIs while being incorporated with 285 pre-built microservices available on the cloud, as well as with access to 1,214 APIs and multiple events. 

Following this launch, the AI-powered platform will accelerate the transition of banks from a service-oriented suite of products to the marketplace connected with cloud technology and simplify the technical environment they worked with up until recently. functions based on five principles: configurability, richness, scalability, composability, and ease of integration. 

The platform will be taking care of the configurability of the lending solution or the core banking, as well as the capability to measure AI operations that meet the requirements and demands of the business, needed to accommodate changes in data, computing, and sharehouse conditions. 

Furthermore, its set of features and interface provides businesses with the tools that are necessary to use the power of AI and optimise their operations in an effective and `rich` way. The interface was created to be seamless and easy-to-use, in order to make the platform quickly and easily accessible, implementable within the already existing systems, and customised to fit individual preferences, needs, and demands. 

It also aims to allow organisations and companies to combine different AI technologies and factors for the purpose of meeting their specific requirements.


Fintech company Intellect Design Area has announced the launch of, an Open Finance platform with embedded artificial intelligence, powered by AWS.


Intellect's marketplaces that incorporate

Intellect has currently four marketplaces that could be used by financial institutions and banks in order to leverage the Intellect Digital Core Platform, Digital Transaction Banking, iKredit360, and Intellect Wealth. 

iKredit360 represents a comprehensive and composable credit technology platform that was designed to enable financial institutions with the possibility to offer multiple credit services to merchants, channels-partners, as well as end customers, in an efficient and fast way. 

The Digital Transaction Banking solutions is a cloud-native, integrated transaction banking platform, powered by microservices and Open Banking APIs. They cover aspects of transaction banking, the working capital cycle from account tools to payments, the management of collections and receivables, virtual accounts, and trade finance in order to supply the chain finance. 

Intellect Wealth represents an API-based scalable omnichannel solution that was created by private banks, wealth management firms, broker-dealers, and advisory firms. It is also a full stack of digital suite of products that are capable of managing the complete lifecycle of Wealth Management. 

The IDC platform is a comprehensive Core Banking service built on a cloud-native, API-first, headless architecture. IDC covers lending, card solutions, payments, trade finance, treasury, core operations, and digital banking. 

Intellect’s product launches

India-based fintech Intellect Design Arena launched its Magic Invoice product in July of 2022. 

The service represented a NOMagic Invoice Touch invoice processing solution, that was powered by artificial intelligence, natural language processing, and machine learning. It was designed to be contextual and to adapt continuously, as well as to integrate well with existing technology ecosystems to automate end-to-end or Email2ERP invoice processing. 

The NO TOUCH process started with invoices being ingested directly from emails and accurate data capture powering the invoice processing. The verification and approval procedure ensured that the invoice data matched with business data points and automatically routes to the right people at different AP stages. 

More: Link

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: product launch, online banking, digital banking, Open Banking, Open Finance, artificial intelligence, financial services, financial institutions
Categories: Banking & Fintech
Companies: Intellect Design Area
Countries: India
This article is part of category

Banking & Fintech

Intellect Design Area

Discover all the Company news on Intellect Design Area and other articles related to Intellect Design Area in The Paypers News, Reports, and insights on the payments and fintech industry: