Intellect Design Arena signs multi-million deal with a leading North American bank

Software company Intellect Design Arena reported that it has secured a ‘large, multi-million’ deal from one of the top 20 banks in North America.

The deal is significant to Intellect Design as it is the highest ever deal won by the company.

Intellect Design’s will provide its cash management platform, CBX 18 software, to the bank as a part of the deal.

“By extending existing payment capabilities within the bank in new digital ways and adding complimentary contextual payments services, Intellect will be a strategic partner in the bank’s large transformation agenda”, said the company.

The CBX 18 software, rolled out in October 2017, provides digital execution across the full range of transaction banking actions.

The platform transforms transaction banking into customer service using information on the client and its context to understand and anticipate their needs, the software company said. An algorithm then calculates the optimal action based on their specific situation and preferences.

The deployment will be executed by iGTB in partnership with a global leading cloud platform and cognitive solutions company for a period of 3-4 years, the company said, without naming the partners.

Intellect Design Arena Limited, formerly Fin Tech Grid Limited, is engaged in the business of software development, and providing software product license and related services.

It has operations in India, Middle East, Africa, Asia Pacific, Europe, and the United States, and offers solutions in consumer banking, central banking, risk and treasury management, global transaction banking and insurance.