With a standard deal size of $10-50 million intellect design arena has introduced iTurmeric FinCloud on IBM public cloud, aiming financial and banking services customers.
“Most of the banks across the world are still saddled with legacy platforms which are hampering them from participating in the experience economy. iTurmeric FinCloud will give these banks a very novel and unique way of progressively modernising, using Turmeric tools without the risk of rip and replacement. Today iTurmeric FinCloud already has retail banking, lending, origination, and Corporate banking API and Turmeric API manager to create new relevant user journeys on the fly,” Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited, said in an announcement.
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He further added that Intellect Design Arena is among the first financial services ISVs onboarding their offerings to the financial services-ready public cloud, once available, to provide its industry solutions to leading financial institutions around the world.
Intellect Design is part of the IBM public cloud ecosystem, a modernist initiative to support global system integrators and independent software traders to help clients modernise and transform mission-critical workloads on the IBM public cloud.
Commenting about the partnership with Intellect, Shanker Ramamurthy, GM Strategy & Market Development: Global Industries, Platforms & Blockchain, IBM said, “We are pleased to continue our engagement with Intellect and support its journey to bring iTurmeric to the IBM financial services-ready public cloud.”
Going forward he added, “IBM is committed to helping clients overcome the challenges of the financial services industry, including the need for continuous compliance, security and resiliency. By bringing Intellect’s iTurmeric FinCloud platform to the financial services-ready public cloud, we’re helping drive innovation throughout the industry.”
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Built on the robust principles of Design Thinking at the R&D Innovation Lab at Intellect US, iTurmeric FinCloud, the first-of-its kind enterprise integration, API-first, cloud-native platform has retail banking, lending, origination, Corporate banking API’s and Turmeric API Studio to create new relevant user journeys on the fly. The discrete nature of these APIs means that newer systems can be put in place without impacting mission-critical legacy infrastructure. With iTurmeric FinCloud, new digital banks’ systems can be tested and run in isolation or in parallel with core legacy systems, which can, in turn, continue to run without interruption or compromise.
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