The collaboration aims to leverage the eMACH.ai platform, a transformative technology designed using first principles thinking to simplify technology in the banking and insurance sectors. Together, the companies will deliver innovative and comprehensive IT solutions to clients in the banking and financial services industry, said the firm. By combining Wipro's IT services with Intellect's advanced eMACH.ai platform, they aim to enhance operational efficiency and drive digital transformation for financial institutions. This partnership focuses on using data and AI to help organisations stay competitive and agile in a rapidly changing industry. The partnership will also include joint efforts to identify and pursue client opportunities, offering comprehensive support services such as project management and cloud services. Additionally, Intellect will provide specialised training to Wipro's teams, ensuring they are well-equipped to implement and support these solutions effectively. Kannan Ramasamy, chief partner officer, Intellect Design Arena, said, 'We are excited to embark on this global partnership with Wipro, a prominent player in IT services. The eMACH.ai platform's innovative approach and comprehensive capabilities align with our goal to drive digital transformation across the financial services industry worldwide. Together, we aim to set new benchmarks in operational efficiency, regulatory compliance, and customer satisfaction, ensuring that our clients remain competitive in a rapidly evolving global market.' Wipro is a leading technology services and consulting company focused on building innovative solutions that address clients' most complex digital transformation needs. Intellect Design Arena has a comprehensive portfolio of products across Global Consumer Banking, Central Banking, Risk & Treasury Management, Global Transaction Banking and Insurance and is engaged in the business of software development. Shares of Intellect Design Arena rose 0.76% to Rs 990 while those of Wipro gained 0.79% to Rs 538.80 on the BSE. Powered by Capital Market - Live

Intellect Design Arena announced the opening of a Global Partnership Office in Bengaluru. Driven by its commitment to First Principles Thinking, this facility marks a significant milestone in expanding partnership-led growth for Intellect, delivering customer-first solutions in the financial technology sector. Located in the heart of India's Silicon Valley, the Bengaluru office will serve as a hub to nurture partnerships, enhance technical capabilities and accelerate the deployment of Intellect's advanced financial technology solutions composed with eMACH.ai. This opening reflects Intellect's dedication to empowering its partners and customers by fostering continuous learning & development and amplifying its position as a global leader in enterprise grade technology for financial institutionsPowered by Capital Market - Live

IntellectAI, a business unit of Intellect Design Arena focusing on cutting edge Artificial Intelligence technologies, announces the launch of Purple Fabric, a pioneering platform that accelerates enterprise AI adoption for financial institutions (FIs). Leveraging the potential of the First Principles Thinking based Composable and Intelligent Open Finance Platform eMACH.ai, Purple Fabric represents the next step in the evolution of AI, advancing from basic automation to Enterprise Connected Intelligence, enabling FIs to achieve substantial business impact. The anticipation around AI promised to revolutionise industries, but many financial institutions struggled to achieve tangible results, often due to challenges with rule-based orchestration and rapid AI integration into existing processes. However, the true power of AI lies in enterprise-connected intelligence. Recognising this, Intellect leveraged its three decades of domain expertise to develop Purple Fabric'a decision-grade AI platform designed to overcome data fragmentation and silos. The platform emphasises Ethical AI, addressing data biases and ensuring traceability with a comprehensive audit trail. Purple Fabric is a groundbreaking enterprise AI platform that transforms enterprise data into actionable AI insights and solutions. By making data RAG-ready (Retrieval-Augmented Generation) and enabling subject matter experts to quickly build and deploy AI-driven solutions, it creates a knowledge bank from six key sources: structured and unstructured enterprise data, policies, market data, and regulatory information, and tacit knowledge. This foundation allows the AI Expert Agent System to achieve precise, goal-driven outcomes with exceptional accuracy and speed. Additionally, Purple Fabric introduces SWARM (Situational Workflow Automation and Rapid Micromodeling) capabilities, enhancing human efficiency through adaptive and responsive automation workflows.Powered by Capital Market - Live

Intellect Global Transaction Banking (iGTB), the transaction banking business unit from Intellect Design Arena announced significant partnership with National Bank of Fujairah(NBF), a UAE-based award winning full service Corporate Bank, to enhance its digital capabilities. This deal marks the first cloud-managed service for iGTB in this region. NBF currently serves corporates and SMEs through its network in the UAE, providing financial services to optimise commercial opportunities and achieve sustainable growth for their clients. With eMACH.ai Digital Transaction Banking solution, NBF can offer their clients a suite of comprehensive solutions backed with: '' Innovative Decision-Making and enhanced Digital Capabilities: For improved information visibility and innovation ensure quick decision-making and a seamless user experience for corporate and '' Cloud-powered Excellence: iGTB, with eMACH.ai Cloud, will provide a fully managed cloud service, freeing NBF to focus on business development and client service.Powered by Capital Market - Live

Net profit of Intellect Design Arena declined 20.34% to Rs 74.46 crore in the quarter ended June 2024 as against Rs 93.47 crore during the previous quarter ended June 2023. Sales declined 5.17% to Rs 606.34 crore in the quarter ended June 2024 as against Rs 639.38 crore during the previous quarter ended June 2023. ParticularsQuarter EndedJun. 2024Jun. 2023% Var. Sales606.34639.38 -5 OPM %19.6423.09 - PBDT134.61160.51 -16 PBT98.08126.54 -22 NP74.4693.47 -20 Powered by Capital Market - Live

Intellect Design Arena has allotted 6,46,067 equity shares under ESOP on 22 July 2024. The paid-up share capital of the Company accordingly increases from Rs. Rs. 686,154,285/- divided into 137,230,857 equity shares of Rs. 5/- each to Rs. 689,384,620/- divided into 137,876,924 equity shares of Rs. 5/- each.Powered by Capital Market - Live

Intellect Design Arena will hold a meeting of the Board of Directors of the Company on 26 July 2024.Powered by Capital Market - Live