Intellect Design Arena Ltd, a specialist in enabling true Digital Transformations across Banking & Insurance, is proud to announce that it has been recognized as a leader in Gartner’s Magic Quadrant for Global Retail Core Banking (GRCB). Gartner placed Intellect in the leaders’ quadrant for the sixth consecutive year. Intellect was assessed on the ability to execute and completeness of vision of its projects.
Commenting on the recognition, Jaideep Billa, President & CEO, Global Consumer Banking, Intellect Design Arena Ltd. said: “As one of the youngest retail core banking product vendors in Gartner’s Magic Quadrant to be recognized as a Leader for the 6th consecutive year, we believe that this recognition reiterates our ability to provide robust, scalable technology for seamless functioning of financial institutions across the globe. Our aggressive customer-centric design philosophy has enabled the engineering of agile holistic digital solutions, with full lifecycle enablement and industry-leading performance assurances.”
According to Gartner, "Leaders in the GRCB market tend to possess a high-order market understanding — that is, they make it their business to monitor market trends, funneling progressive innovation into their product road maps. About half of this group either possesses software development quality certifications (such as CMMI) or is pursuing them. Without exception, the Leaders are progressively "thinking small" or targeting component-based architecture as a gateway to providing increased accessibility to the granular functionality that banks need to drive the basis for differentiation."
Gartner says “The evaluation began with 40 product candidates for the 2016 Magic Quadrant, and resulted in a qualified group of 17 vendor/product offerings that represents the major movers in the retail core banking system market.” Gartner also says that “This Magic Quadrant assesses the suitability of core banking system providers and their product offerings to address current GRCB market trends. This evaluation uncovers the leading strategies of these vendors and products, reveals their underlying product/service capabilities, and affirms their relevance to the changing conditions of the banking industry.”
Don Free, Research Vice President, Gartner stated in the report, “The core banking market demand for practical and enabling technology to support significant business initiatives, such as a digital banking strategy, is surging. Lack of agility and the high cost of technology are driving more banks to build the business case for core banking renewal.”
Intellect Digital Core, a web-enabled feature-rich solution which is truly Digital Inside and Digital Outside brings to its customers the power of a fully Digital Technology. Intellect Digital Core addresses the critical need for a scalable, flexible, and secure, customer centric core-banking platform that can help banks become the principal bank of every customer by redefining customer experience. It is a multi-currency, multilingual solution conceived and built with the anytime, anywhere customer in mind. Intellect caters to the entire range of banking solution requirements across various customer segments of a bank; both retail and corporate.
1 Gartner, Inc., "Magic Quadrant for Global Retail Core Banking," Don Free, 21 April, 2016. (Formally Polaris FT)
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