Intellect Design Arena gains as its arm bags order from Mineral Development Bank

Intellect Design Arena is currently trading at Rs. 695.65, up by 5.85 points or 0.85% from its previous closing of Rs. 689.80 on the BSE.

The scrip opened at Rs. 685.00 and has touched a high and low of Rs. 704.55 and Rs. 685.00 respectively. So far 11746 shares were traded on the counter.

Intellect Design Arena
Intellect Design Arena

The BSE group ‘A’ stock of face value Rs. 5 has touched a 52 week high of Rs. 986.00 on 07-Apr-2022 and a 52 week low of Rs. 564.00 on 16-May-2022.

Last one week high and low of the scrip stood at Rs. 714.00 and Rs. 663.00 respectively. The current market cap of the company is Rs. 9413.35 crore.

The promoters holding in the company stood at 30.76%, while Institutions and Non-Institutions held 27.10% and 42.14% respectively.

Intellect Design Arena’s consumer banking arm — Intellect Global Consumer Banking (iGCB) has bagged order from Mineral Development Bank to transform its banking solutions. The company will implement iGCB’s Intellect Digital Core for the bank.

Intellect Digital Core has been recognized as number 1 in Retail banking as per IBS Intelligence in 2022. Mineral Development Bank, which is on a fast growth trajectory, will be able to: Elevate customer experience through relationship-based pricing, better product cross-sell and upsell recommendations; Launch new products in days rather than months, by leveraging the product configurator; and Real-time processing of International and domestic payments with high volume capability.

A new entrant in Myanmar, the bank aims to open 15 branches this year. The digital transformation will provide the bank with a platform to innovate faster than its competitors. iGCB has partnered with ACE, to implement the platform.

Intellect Design Arena, a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products.

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