Intellect Design Arena Ltd, a cloud-native, future-ready, multi-product Financial Technology company for the world’s leading banking and insurance clients, announced the launch of its ‘First Principles’ Technology suite, eMACH.ai, for Technology-suave Bankers in the Middle East and Africa.
“With the rapidly evolving business environment, it is imperative for financial services institutions to stay ahead of the competition by providing a delightful customer experience. eMACH.ai offers a broad, comprehensive, composable and contextual platform that delivers capability to compose technology solutions to revolutionize the way financial services institutions operate,” Arun Jain, CMD and Chief Architect of Intellect Design Arena Limited, told Khaleej Times in an interview on the sidelines of the launch.
With 329 pre-built microservices available on the cloud, and access to 1,757 APIs and 535 events, eMACH.ai enables financial institutions to design the future of banks and FIs.
“Dubai’s banking sector has seen phenomenal changes in the last 30 years. Dubai has the capability to exploit the current potential and explore the future journey as well. So it’s a two-track economy, and very few countries have two-track economies. The central bank is putting a huge amount of effort on open finance platforms,” Jain said.
This suite of First Principles Technology keeps a bank’s customer in focus, be it Retail, HNI, SME, or Corporate, the events in their financial journey, or events created by bank operations or events generated by regulators and compliance. Financial institutions orchestrate their offerings based on these events to ensure customer satisfaction and regulatory compliance. This orchestration is done using a well-defined set of self-sufficient services referred to as Microservices in the tech community.
To provide complete services from approval to credit decisioning to risk compliance to regulatory reporting, corporate banking ecosystems like liquidity, payments, cash management, virtual accounts, SME lending, Corporate DDA and trade & supply chain finance, these Microservices must collaborate with other services. According to the tech fraternity, the agreed protocol of defined agreement with other services is called API – Application Programming Interface. These Events, Microservices and APIs deployed on a native Cloud environment, deliver a seamless experience, either through the feature-built UI/UX or Headless, where financial institutions can create their UI/UX based on their unique requirements. With embedded AI for operational efficiency and smart decisioning, eMACH.ai is the most comprehensive ‘First Principles’ Technology addressing the current and future needs of any Financial institution.
“Intellect’s eMACH.ai Technology leveraged the smartness of the Cloud to design Banker’s own composable Business Impact solutions based on Event-driven architecture, ready to use deeply rich functional Microservices and scores of API on Cloud Headless. Combining these 4 principles creates a magical name for our Technology – eMACH – Events, Microservices, APIs, Cloud and Headless. iFabric.ai suite DIMS – Document Intelligence Management system brings Contextuality to drive faster and accurate decision making,” Jain said.
He further added, “We have secured 29 mandates from global banks who have chosen to use eMACH.ai services. We have conducted over 150 eMACH.ai workshops to assist these banks in designing their future strategies around customer opportunities rather than just focusing on technology maximisation and optimisation.”