With the API-first architecture, iTurmeric FinCloud enables banks to progressively modernise while ensuring business continuity without the risk of rip and replacement.
Intellect Design Arena Ltd., world’s first full spectrum banking and insurance products company, introduced iTurmeric FinCloud – its future-ready, cloud-ready, API-first, microservices-based platform – now available on IBM public cloud, the industry’s most secure and open public cloud for business.
Intellect Design Arena is one of the first financial services ISVs onboarding their offerings to the financial services-ready public cloud, once available, to provide its powerful industry solutions to leading financial institutions around the world, while addressing security and compliance readiness, and resiliency.
Intellect’s iTurmeric FinCloud empowers banks to prioritise their operating models and focus on innovation to offer their customers a gamut of tailored-made products. By offering iTurmeric FinCloud on IBM financial services-ready public cloud, Intellect extends its presence in advanced and emerging economies by offering financial institutions innovative cloud-based solutions to accelerate their digital transformation journey.
Commenting about the partnership, Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited said, “We at Intellect are excited to collaborate with our long-standing partner IBM, to deliver innovative financial services solutions to establish viable platforms for the next era in banking through their financial services-ready public cloud.”
“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. We will continue to add relevant API’s.”, he added.
Intellect Design is part of the IBM public cloud ecosystem, a new initiative to support global system integrators and independent software vendors to help clients modernise and transform mission-critical workloads on the IBM public cloud. This initiative will support onboarding to the IBM financial services-ready public cloud, including guidance through a prescriptive implementation and evidence process to help deliver Intellect Design offerings.
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.