– E-commerce players, banks and NBFIs can now offer organized credit experiences with iKredit360
CHENNAI from India and LONDON, June 15, 2021 / PRNewswire / – Intellect Design Arena Ltd, the world’s most comprehensive IP solutions provider for leading financial institutions, has announced the launch of iKredit360, a revolutionary credit platform designed exclusively for European financial institutions. With a composable, cloud-native platform, it has the ability to converge financial offerings such as credit products, cards, payments and banking services to create integrated user journeys across the financial ecosystem. E-commerce players, financial institutions and NBFIs in Europe can leverage this platform to organize credit experiences for their consumer and business segments.
Without a doubt, the world of credit and payments is one of the most troubled areas in the financial world. The boundaries of ecosystems are blurring as the possibilities are redefined, whether for a bank or a non-bank financial institution or an e-commerce player or even a Fintech. This has led to reinventing customer experiences, with an imperative goal of being the primary point of engagement for target customers.
Rajesh saxena, CEO, Intellect Global Consumer Banking, said, “The game has moved beyond lending and lending products. This is important, given that we have passed the era of siled products and services; it is now a customer-centric world. The basis for creating personalized and organized customer experiences is a technology where building blocks and APIs play a central role. “
Intellect is witnessing significant convergence in the credit world, and that’s exactly what the revolutionary iKredit360 platform is all about. iKredit360 converges several elements such as relationship engagement channels, financial products, lifecycle, core systems and external systems such as credit bureaus, regulators, rating agencies and fintechs, while providing the framework for connection across the ecosystem. The Buy Now Pay Later (BNPL) offer is one of the best examples where iKredit360 can help financial institutions reinvent their credit propositions.
iKredit360 = Convergence + Connections + Cloud
The problem that financial institutions typically face when organizing a holistic experience is the challenge of grabbing individual pieces of the solution from multiple vendors. These disparate pieces create havoc, as more often than not, the underlying technological architecture of these pieces can be completely different. To add to this, any new technology must coexist harmoniously with existing technology platforms and commodity systems, and at the same time, must shake the hand of an external ecosystem or market in a transparent manner. The iKredit360 platform has been designed on a robust and agile foundation, with a rich set of building blocks, including up to 90 packaged business components (PBCs), exclusively for European markets. The technological design of iKredit360 harmonizes the convergence of PBCs (both internal and external) with an integrated and configurable integration framework (iTurmeric). This makes the experiences transparent, frictionless, and scalable. The platform is cloud native, offering the dual benefit of cost and risk management.
Whether it is an e-commerce player in Europe wishing to expand the buying and paying experience OR a traditional bank going digital with a strong cross-selling strategy OR a financial institution aspiring to expand its retail lending / payments experiences with redesigned products like Buy Now Pay Later (BNPL), iKredit360 is the perfect solution for organizing experiences in an integrated credit ecosystem.
For a demo and more information on iKredit360, please visit https://www.ikredit360.com/
About Intellect Design Arena Limited
Intellect Design Arena Ltd. is the largest, multi-product, microservice-based, cloud API-based FinTech platform for global leaders in banking, insurance and capital markets. It offers a complete range of contextual and composable banking and insurance products powered by the NextGen FinTech architecture, through its four business lines: Global Consumer Banking, Global Transaction Banking (iGTB), Risk, Treasury and Markets and Insurance . With more than 25 years of in-depth expertise in the field, Intellect is the brand that progressive financial institutions rely on for their digital transformation initiatives. Intellect was ranked # 1 worldwide for the Retail Banking, Transaction Banking and InsurTech categories in the IBS Annual Sales League Table 2021. For more information on the organization and its solutions, please visit www.intellectdesign.com.
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SOURCE Intellect Design Arena Ltd.