Intellect ranked #1 at IDC Financial Insights FinTech Rankings Real Results Awards 2016 for its core banking implementation at Sonali Bank

Intellect Design Arena Ltd, a specialist in applying true Digital Technologies across Banking & Insurance, is the proud winner of two awards at the IDC Financial Insights FinTech Rankings Real Results Awards 2016. Intellect was voted the Overall winner and winner in the ‘Enterprise Efficiency’ category for its Core Banking System (CBS) implementation at Sonali Bank, which is the largest state owned commercial bank in Bangladesh.

IDC Financial Insights, a global research and advisory firm, recognizes vendors that help their customers to achieve real, measurable, and future-enabling change.

Sonali Bank which has over 1200 branches across Bangladesh was scouting for a centralized online, real time banking platform that could provide enhanced functionality and superior customer experience. Designed with the customer at the center, Intellect Core Banking System (CBS) met all its requirements while also providing the robustness and scalability for future expansion.

Commenting on the recognition, Md. Shameemul Haque, Deputy General Manager, IT Division, Sonali Bank Limited said, “Intellect’s CBS implementation helped us achieve our twin targets of enhancing enterprise efficiency and customer experience. We are extremely happy to have partnered with Intellect in our digital transformation journey.”

Intellect’s CBS implementation marks a key milestone in the journey of Sonali bank’s ‘Primary Banker’ vision. Ability to quickly launch new products also resulted in an immediate and consistent increase in its customer base. This technology transformation initiative has equipped Sonali Bank to compete directly with Private Commercial Banks while also providing efficient services to its existing customers.

Jerry Silva, Global Banking Research Director for IDC Financial Insights, said, “ IDC Financial Insight Real Results program aims at drawing case studies from around the world that showcase the effective and measurably beneficial use of technology in financial services. We would like to congratulate Intellect Design Arena for their continued success in helping banks across the globe to achieve quantifiable success.”

Commenting on this recognition, Rajesh Saxena, Chief Executive Officer, Global Consumer Banking, Intellect Design Arena Ltd said, “Designed by bankers, Intellect® CBS is a highly scalable core banking platform that caters to both private and public sector banks across geographies. We are happy to have received the award for our CBS implementation at Sonali Bank. With the implementation of integrated online real-time system the bank has been experiencing enormous traction in Customer Onboarding and has been able to provide superior banking experience for its customers. These awards reinforce our determined efforts to equip banks and financial institutions in an evolving digital era to engage with its customers on a real-time basis.”