Banking Design Thinking Fintech Technology Workplace
Oct 1, 2023
Blogs

Day one post of India Customer Event

1. On October 9th and 10th, we had an amazing two-day marketing event at FT8012. I am happy to share that the eMACH.ai & Intellect Design Thinking Residential Programme for Exponential Growth went really well. Special appreciation to Debal Dutt, Ramanan S V, and Intellect Design Arena Ltd’s Marketing, Sales, and Admin teams for their outstanding work in bringing together the top 37 bankers and industry leaders. 

The event was split into two main parts:

Day 1 was all about “Design Thinking for Building Digital Enterprises.”

Day 2 focused on “Design Thinking for Cognitive Enterprises.”

The event’s core message emphasized the paradigm of Designing Platforms versus Products, utilizing the six designer canvases of iTurmeric, which was extremely well-received.

A key highlight was the significant role of Data Design in governing platform and ecosystem design. This underscored iTurmeric’s importance with its core components: Composite Data Objects and Transaction Data Objects, predefined and governed to ensure excellence.

API Designs and Governance is the second canvas essential in crafting exceptional digital platforms and advancing towards expansive ecosystems.

Visual User Journey Design was perceived as an innovative product combined with direct coding and embedded Rules and Events. FPX connected with the other 5 canvases was another interesting capability to bring out a Segmented and personalised expression of the platform. 

#DesignThinking #eMACH.ai #Intellect #OpenFinance #Growth #DigitalEnterprise #CognitiveEnterprise

Continue reading
October 1, 2023
Banking Design Thinking Fintech Technology
Oct 1, 2023
Blogs

Day two post of India Customer Event

Second day of the eMACH.ai & Intellect Design Thinking Residential Program for Exponential Growth (Oct 10) started with a deep dive into understanding the concept of a “Cognitive Enterprise.” Asking the right questions” is a fundamental step in building a cognitive organization.

In the past 35 years, we’ve learnt to organise structured data within Relational Databases like Oracle or Postgre. These structured data sets have been pivotal in enabling deterministic decision-making. However, in the financial sector, a significant portion of intelligence, over 60 percent, is hidden within documents.

We introduced the concept of a Document Intelligence Management System (DIMS) as the next basic need of Financial Institutions to organise unstructured data alongside structured data.

Deepak Dastrala and Raman Jatkar presented IDX as a next-generation DIMS. IDX demystifies the AI life cycle and condenses it into 51 algorithmic steps and 11 services integrated into a single platform. This groundbreaking approach simplifies the traditionally complex roles required to build AI applications, reducing them from eight, including Data Scientists and ML Ops, to just two: Domain Specialists and Data Engineers.

While many financial institutions have established AI setups, they often miss the vital “Science of AI” or “Document Intelligence in a single platform”, equipped with the capabilities to create contextual role and function-based APIs. The launch of IDX 3.0 during this conference marks a groundbreaking solution in this domain from Intellect

Debal Dutt, Ramanan S V, Intellect Design Arena Ltd
hashtag#CognitiveEnterprise hashtag#DocumentIntelligence hashtag#AI hashtag#Innovation

Continue reading
October 1, 2023
Banking Design Thinking Fintech Technology
Sep 30, 2023
Blogs Videos

Driving Digital Enterprise To Cognitive Institution

IntellectAI kept resonating on 2nd day at Sibos with its CoPilot for Corporate Bankers. Let me share the story of the origin of CoPilot. Intellect started its AI journey 7 years back in the US. We were the first to set up a dedicated team in the US and embark on a ‘Platform’ approach to build AI capabilities aligned to what Financial Services will need in the future.

During the first phase, which we call IntellectAI 1.0, we mastered the art of extracting contextual and sentimental data from Excel Sheets, PDF Documents and Images. We applied triangulation, validation and enrichment to create what we called a Document Intelligence Platform. The technology behind it took 5 years to mature from Build Stage, i.e. 80+ per cent accuracy, to Decision Grade AI with 97+ per cent accuracy. This technology was then successfully applied in the highly document-intense industry space of Policy Underwriting, especially for P&C (Property & Casualty) Insurance. Today, this technology has empowered 20+ customers globally to make better and more informed decisions in Policy Underwriting, Cash Management and Expense Management spaces.

Once we mastered the Document Intelligence Platform, we moved to the next phase of our journey to build Multi-Question Search(MQS) and Triangulation technologies. In the Financial services space, the problems are multi-dimensional with the highest level of complexity associated with the variables around each dimension. Making it Decision Grade required accuracy, referenceability and audit trail for each proposed inference. This is what our next-generation technologies were able to deliver. And this is what we christened as CoPilot, ready for adoption across multiple industry segments.

The largest Norwegian Fund adopted IntellectAI’s CoPilot for ESG to create the ESG Risk Wheel, which is a combination of 150 unique sets of questions triaged from data from 8000+ companies.

Our CoPilot for Corporate Banking is targeted to leverage the power of AI in the Commercial Banking space. It seamlessly connects with Microsoft Azure OpenAI and delivers the high octane of Prompt Engineering and GenAI in order to boost accelerated revenue growth with reduced operational costs.

We are already receiving huge interest from global banks asking the right questions to bring more clarity and explore opportunities in their journey to become a Cognitive Institution from a Digital Enterprise.

Continue reading
September 30, 2023
Banking Design Thinking Entrepreneur Fintech Reflection Technology
Sep 1, 2023
Blogs

Murari Lal post

The story I am about to tell traverses the fascinating world of a young boy and his journey to adulthood. And during this journey, he tells a riveting story of discovery – of his journey and self discovery. It’s about a young and determined individual who faced financial obstacles but remained committed to achieving his goals. Interwoven in his journey, we unravel how the world of technology unravels.

Murari Lal was just like any other boy growing up in a bustling locality in a vibrant city. He imbibed the vibrancy and had his playful side. But there was another side to him, too. At the tender age of 10, Murari was captivated by the mesmerising world of video games. However, a price tag of Rs.2000 hung heavily over his dreams, a sum far beyond the confines of his modest pocket money, that amounted to a mere Rs.50 per month.

But the money did not seem to be an obstacle in achieving his dream. He remained focused on his important goal. He was determined to be smart with his money and found help at the local Ramlal Bank to start his financial journey. He saved Rs.20 from his monthly pocket money, resisted the temptation and deposited whatever money he got on festivals in that account to make his dream come true.

Time passed. Festivals came & went. The temptations were all there. But his dream & determination was greater than all of these. After patiently waiting for two years, Murari’s hard work with money paid off, and festivities brought in extra money, Murari remained determined. He felt proud and satisfied when he had Rs.2000 in his hands. It showed he didn’t give up and was smart with his money. This was just the beginning of Murari’s journey to learn how to handle money well, and he never forgot this important lesson.

When he was 13, he had to buy groceries for his family. This allowed him to learn even more about managing money, and it happened at a local store.

With his mom’s shopping lists, Murari regularly went to the nearby grocery store. But there was a surprising twist: the store owner didn’t immediately ask for payment. Instead, they sent someone to collect the money at the end of the month. Murari realised that this system was similar to how credit and credit cards work, which got him thinking about the complex world of finance that he would soon learn about.

As Murari’s life story progressed, taking him through college and into the world of startups, his journey blended perfectly with the growing world of technology. He named his business ‘Murari Lal & Co’ and approached RamLal Bank to seek financial assistance and was introduced to how RamLal bank can extend a loan to him against the machinery he would procure and purchase orders he got as well as help him manage his month to month cash requirements by giving him money against the invoices he would raise to his clients.

Continue reading
September 1, 2023
Banking Design Thinking Fintech Technology Workplace
Aug 1, 2023
Blogs

Reshared Intellects Q1 Fy 24 highlights

Reshared: I wish to celebrate the power of the Research and Development teams at Intellect this quarter. 2 million person-hours of sustained investments annually and 16 million person-hours during the last 8 years in R&D have catapulted the company from Product to Technology company. eMACH.ai, with its 5 built-in technologies, drives holistic and agile transformation at double the speed and half the costs.

Turmeric Technology is first-of-its-kind Composable platform (No code), choreographing Events, Microservices, APIs, Business Rules, UX and Generative AI seamlessly to deliver high performance with inbuilt ease to use. Fabric Technology brings in enterprise decision-grade knowledge from Structured and Unstructured Data. Intellect’s ‘Platform First’ strategy in building technology is powering unparalleled efficiencies in Insurance, Wealth, Retail, Risk and Corporate. Extremely high point in building commercial IPs.

Continue reading
August 1, 2023
Banking Design Thinking Fintech Reflection Relationships Technology
Jul 1, 2023
Blogs

Post on Foundation Day

Power of Committed Communities

24.7 is the foundation date of Polaris/Intellect group 30 years ago. Aptly, ‘24 by 7’ became the DNA of members of this group who continuously think, work and achieve designing and developing better technologies for their customers across the globe.

The 30 years of collective community power translates to 10957 calendar days and over 1.5 billion hours of design, innovation and execution of a vision in global Financial Technology. A vision that is jointly shared with our customers.

I must record my gratitude to all customers who trusted Polaris/Intellect from 57 countries to connect their dreams to drive better banking for their customers.

We started our journey at the beginning of Banktech Wave 3 when the era of distributed computing and relational databases was just emerging over the Mainframes and Mini computers era. We proudly participated in providing cutting-edge technology in building the first high volume Credit Card processing application and Core Banking application on the distributed architecture of small Solaris machines and Oracle DBMS for Citibank. A unique achievement which was unheard of in that era. And then we never looked back.

In a short span of 7 years, customers from Singapore, Australia, Middle East, Germany, Switzerland, UK and US started placing their trust with our technology teams. And top 4 of 10 North American Banks, top 6 of 10 European Banks, top 9 of 10 Middle Eastern Banks, top 7 of 10 Indian Banks and top 5 of 10 South East Asia & ANZ Banks place their trust on Intellect when it comes to technology.

The process of shared visioning and imagining the nextgen through ‘Lakshya’ (our visioning exercise across the organisation) helped the group to transition smoothly to Wave 4 and now Wave 5 ahead of its competitors. Today Intellect’s launch of eMACH.ai is a new paradigm in choreographing and composing contextual experiences at double the speed.

My gratitude to all associates (employees in industry terms) and partners, past and present, of this 24 by 7 movement, who helped in building a strong culture of small communities (teams) who asked the right questions and found the right and appropriate solutions, wiring them in our customer complex ecosystems. The culture of smart communities focussed on deep functional and technology research, product engineering, customer transformations, and life cycle support spread across 25 countries makes me proud today.

Our resolve of bringing transformation through ‘Mission Samriddhi’ in rural India and building the spirit of ‘Can Do’ in children through ‘Ullas Trust’ is our way of contributing to society and expressing our gratitude to the roots from where we have emerged.

On this important day, I feel humbled by the power of dreams, entrepreneurship and communities. A very Happy Foundation Day to all my associates, customers and partners and I look forward to our continued journey together.

hashtag#Intellect hashtag#LiveYourDream hashtag#Polaris hashtag#FoundationDay

Continue reading
July 1, 2023
Banking Design Thinking Fintech Reflection Technology Workplace
Mar 1, 2023
Blogs

Discussed with Nikunj Dalmia, Managing Editor of ET Now about the current question facing the banking industry

I had a meeting with Nikunj Dalmia, Managing Editor of ET Now today where we discussed the current question facing the banking industry.

As a designer of banking technology for the last 37 years, I believe that the complexity of the global banking industry can be represented through the Banking Complexity Pyramid. This complexity includes the interconnected world, regulatory compliances, extreme economic fluctuations, and five generations of existing technologies.

Investor communities often react based on visible symptoms like Brexit, Trump, or Russia/Ukraine, without conducting a detailed analysis. However, the controllable element in this complexity is technology, and a holistic design is required to build resilience against regulatory changes, an interconnected/interdependent world, and economic fluctuations.

I believe that technology investments are crucial for banks to navigate the complex banking industry and build resilience.

At Intellect 3.0, we have invested over 600 crores in building the Open Finance platform eMACH.ai based on BankTech wave 5 by converging 5 technologies of events, microservices, API, cloud, and AI.

Our platform helps banks’ in-house business, operations, and technology teams to ‘Connect’ broken windows created by ‘Residual Legacy’ and compose agile solutions by using 285 independent microservices (Core Banking, Lending, Credit Card, Wealth and Corporate Banking) and tightly wire the entire ecosystem using 1214 API’s. This platform helps banks to co-design technology transformation in a very systematic way and helps reduce operations costs by 20%.

hashtag#bankingtechnology hashtag#etnow hashtag#eMACH.ai hashtag#openfinance

Continue reading
March 1, 2023
Banking Design Thinking Entrepreneur Fintech Reflection Social Development Workplace
Mar 1, 2023
Blogs

Post describing his 10 years journey

I heard the phrase during my school days – Time Flies.

Here I am experiencing 10 years of time flown since innauguration of FT8012 on 23rd March 2013 by Michael Harte, who flown from Australia to innaugurate this ‘Monument of Design Thinking’, the first of its kind in the world dedicated for making a difference in financial technology world.

Over the 10 years period of smartest brains entered in this space and having deep design conversations makes this place sacred. Each time I participated in taking a group of leaders around Design Center, I got some new learning, some new connections, some blind spots surfaced or some difficult problems got solved. Each visit is Magical and energising for me.

The whole concept and design of Mission Samriddhi germinated from FT 8012. It took us 3 years and over 150 Development Accelerators with deep commitment to Social development participated in over 20 different workshops. The entire CATALYST WHEEL and Cluster Development Program (CDP) got designed from this SACRED place.

It’s a Temple of Thinking and Inspiration for me.

Happy Design Day.

hashtag#design hashtag#inspiration hashtag#missionsamriddhi hashtag#socialdevelopment

Continue reading
March 1, 2023
Banking Design Thinking Fintech
Oct 1, 2022
Blogs

Intellect recognised as leader in Forrester Wave digital banking in latest Q3 2022

Being leader in Forrester Wave digital banking in latest Q3 2022 report Makes me proud of business and technology designers at Intellect. The highly functional product with complexity of retail banking simplified using MACH architecture gives best of both worlds to the customers – The Depth and The Edge.

With Composable choreographic suite of ITurmeric provides ability self design highly customer focussed user journeys on underlying core banking, lending, credit card and wealth systems.

corebanking #lending #creditcardprocessing #wealthtech #mach #architecture #digitalbanking

Continue reading
October 1, 2022
Banking Design Thinking Fintech Reflection Technology
Oct 1, 2022
Blogs

iGTB at Sibos 2022 COCB

Manish Maakan, Uppili Srinivasan (Upps), Atanu Ganguli, Andrew England, Debal Dutt and team Intellect Global Transaction Banking | iGTB great show at Sibos 2022.

Upps, I love the succinct 7-minute articulation of COCB – Consumerisation of Commercial Banking (our core theme at Sibos), wired with domain and technology.

The sharpness of 6 tenets of COCB – 1. Hyper Personalisation, 2. Real-time, Connected journeys, 3. Action-triggering insights, 4. Immediacy, 5. Desire & trust-based decision making, 6. Friction-free experience – even at scale, which the banks need to understand and have a gameplan to embrace

3 dimensions of Technology architecture – Composability, Contextuality and Hyperscale along with Data has woven very well.

The need for a Platform and Intellect ability to compose products based on end consumer needs leading to a HOLISTIC experience vs ‘experience at the door’ is captured very well in your video.

I also like 5 imperative for Banks (Revenue Growth, Revenue Protection, Cost avoidance, risk protection and risk elimination) as a driver for choosing Intellect. Congratulations.

iGTB #sibos2022 #COCB #designthinking #intellect

Continue reading
October 1, 2022
« Older EntriesNewer Entries »