Money & Banking

IBM ties up with Intellect Design Arena to launch cloud services for banks, financial institutions

Our Bureau Chennai | Updated on May 14, 2020 Published on May 14, 2020

Banking and insurance products company Intellect Design Arena Ltd and IBM have collaborated to launch the Intellect iTurmeric FinCloud on IBM’s public cloud.

“iTurmeric FinCloud — a Cloud-ready, API-first, microservices-based platform — enables banks and financial institutions to progressively modernise while ensuring business continuity without the risk of rip and replacement,” Arun Jain, Chairman and Managing Director of Intellect Design, told newspersons in a virtual press meet. He declined to give any numbers citing the quiet period before the financial results are announced.

IBM is one of the first independent software vendors and Software-as-a-Service (SaaS) providers to on-board Intellect’s offerings to the IBM financial services-ready public cloud, says a joint press release.

By offering iTurmeric FinCloud on IBM financial services-ready public cloud, Intellect extends its presence in advanced and emerging economies by offering financial institutions innovative cloud-based solutions to accelerate their digital transformation journey, added Jain.

“Our collaboration with IBM was a natural progression to help financial institutions address economic pressures around regulation, security and resiliency. IBM’s market penetration and range of services are the perfect complements for our product expertise,” he added.

Shanker Ramamurthy, GM Strategy & Market Development: Global Industries, Platforms & Blockchain, IBM, said: “By bringing Intellect’s iTurmeric FinCloud platform to the financial services-ready public cloud, we’re helping drive innovation throughout the industry.”

Published on May 14, 2020
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