Intellect Design Arena provides software development and support services for banking, insurance, and other financial services. The company has recently developed an artificial intelligence and application programming interface based platform called CBX S-18 (a next-generation corporate banking platform). Intellect are active in North America, Europe, Asia, the Middle East and Africa.
Intellect has entered into a partnership with technology giant IBM, which will be geared around delivering the CBX S-18 platform, according to Gigabit Magazine. The aim of the CBX S-18 set-up is to deploy predictive analytics and machine learning to provide banks with automatic, tailored actions and offers, based on analyzed business data.
Data analytics are important for many businesses. Big data analysis can automatically capture large volume of structured and unstructured data and allow for insights to be drawn from it. Banks can use these data to evaluate statistical correlation and apply modelling to review transactions, service demand and for seeking new clients. One area that is developing is niche banking, tailoring products to meet the needs of smaller sections of clients.
The specific aim of the CBX S-18 platform is to drive improvements in service levels for corporate treasurers, allowing banks to cut their costs, strengthen their client relationships and push ahead in finding new revenue streams.
The arrangement with IBM is all about making CBX S-18 available on the IBM Cloud. IBM cloud includes infrastructure as a service (IaaS), software as a service (SaaS) and platform as a service (PaaS). A key advantage of cloud computing means banks will not need to invest heavily in dedicated hardware, software and related manpower. In addition, the cloud gives banks the ability to respond quickly to changing market, customer and technological needs.
