Intellect Design Arena launches iTurmeric Fincloud through IBM Cloud

Intellect Design Arena Ltd, a full spectrum banking and insurance products company, has launched iTurmeric FinCloud platform through IBM public cloud targeting financial institutions which are looking to switch to latest tools and technologies. The cloud-ready, API-first, microservices-based platform will help new digital banks' systems to be tested and run in isolation or in parallel with core legacy systems, which can, in turn, continue to run without interruption or compromise.

"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," said Arun Jain, Chairman and Managing Director of Intellect Design Arena Limited.

"iTurmeric FinCloud already has retail banking, lending, origination, and corporate banking API and the company will continue to add relevant APIs," Jain added.

“We are pleased to continue our engagement with Intellect and support its journey to bring iTumeric to the IBM financial services-ready public cloud,” said Shanker Ramamurthy, general manager, Strategy and Market Development: Global Industries, Platforms & Blockchain, IBM. He said that Covid-19 had accelerated the process of digital trasformation in the last few months, compared to the previous years.

The 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.