Country’s largest lender, State Bank of India (SBI) has chosen Intellect Design Arena for its digital wealth transformation, Intellect Design Arena announced on December 7.
As per the fintech, the wealth management business is the bank’s top priority and its primary task is to offer the best products across categories from leading fund houses giving their customers flexibility to invest, transact and view their portfolio through digital channels such as internet banking, etc.
The bank was looking for a robust modular platform across the front, mid, and back-office powered by deep predictive analytics, AI/ML with strong in-built regulatory controls across customers, banks, and markets, the fintech firm said.
The digital platform will enable the bank to provide its customers with a DIY wealth platform and the architecture is such that it allows the bank to deliver customer delight with the ability to keep adding new products and services quickly, it added.
Ramanan SV, Chief Executive Officer, India and South Asia, Intellect Design Arena Ltd said, “Intellect is honored to bag the large digital wealth transformation deal from State Bank of India to support them on their digital journey and growth plans. The bank’s decision to undertake this transformation program is a reflection of the bank’s abiding commitment to deepening customer satisfaction while modernizing for the future.”
Ramanan added, “This is a highly disruptive and strategically important deal, demonstrating the acceleration in thinking in wealth management among global banks as they move to their digital future and reinforcing Intellect’s position as the partner of choice for the world’s largest banks”
