About the Partnership:
Intellect Global Consumer Banking (iGCB), the Retail and Central Banking Solutions arm of Intellect Design Arena Ltd has entered into a transformative partnership and strategic move to revolutionize the financial landscape of NASFUND Contributors Savings & Loan Society Ltd (NCSL), the largest Savings and Loan Society in Papua New Guinea to elevate its Financial Services Portfolio through the implementation of iGCB’s core banking system, Intellect Digital Core (IDC) to fulfil their mission of improving the quality of life of their members through e-novation, security, services and a wide range of savings and loan products.
The institution is looking to digitally transform its business by introducing 100% automation in its processes including onboarding of Members, Loan initiation & Processing, Member Contribution and Reconciliation. IDC offers NCSL a comprehensive suite of integrated banking services, including Current & Savings Accounts, Deposits, Payments, Lending, Treasury, and Digital Banking.
Additionally, NCSL stands to benefit from omnichannel banking, providing real-time and contextual member experiences, and a PNG-ready Marketplace that facilitates value creation. The adoption of a cloud-native platform ensures scalability on demand, reinforcing NCSL’s leadership position in the region.
Stock Performance:
In the last trading session, the stock closed at Rs 895.05. Today, it opened at Rs 894.90 and currently trading at Rs 929, up by 3.79%. Shares of the company have a 52-week high of Rs 970, while its 52-week low stands at Rs 388. Currently, the company boasts a market capitalization of approximately Rs 12,700 crore. Looking back over the past year, the company’s shares have yielded multibagger returns of 112.54%, in the same time frame BSE IT has changed by 24.50%.
About the company:
Intellect Design Arena Ltd has the world’s largest cloud-native, API-led microservices-based multi-product platform for Global leaders in Banking, Insurance, and Capital Markets. eMACH.ai, the most comprehensive open finance platform is at the forefront of the BankTech Wave 5, a significant phenomenon that enables banks and financial institutions to move from product and process to design and experience to compose their unique “My Signature Solution”. It offers a full spectrum of banking and insurance technology products through its three lines of businesses i.e. Intellect Global Consumer Banking (iGCB), Intellect Global Transaction Banking (iGTB), and Intellect AI.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.