Intellect, HCLTech join hands to build tech solutions for financial firms

Fintech firm Intellect Design Arena (Intellect) has joined hands with HCLTech to build technology solutions for financial institutions. The collaboration will combine HCLTech’s expertise in financial services and engineering with Intellect’s eMACH.ai, an open finance platform and Purple Fabric, an enterprise-grade connected intelligence artificial intelligence (AI) platform.

This partnership will enable financial institutions to manage, build, and deploy LLM-powered Agents, optimising interactions and operations through trusted, secure data. Both HCLTech and Intellect will pursue new client opportunities, providing support services, including project management and cloud services. Further, Intellect will equip HCLTech teams with the necessary skills to effectively implement and support joint solutions, ensuring seamless integration and performance.

“We are focused on enabling financial institutions to establish and embed responsible AI at scale, closing the gap between vision and execution. Our collaboration with Intellect Design Arena allows HCLTech to deliver contextual transformation in financial services through cutting-edge solutions that cater to the ever-changing requirements of our clients,” said Srinivasan Seshadri, Chief Growth Officer, HCLTech. Notably, in August, Intellect forged a similar partnership with Wipro. 

In May, Intellect Design Arena launched the Canada eMACH.ai Cloud for banks and credit unions, a suite of products including digital engagement, liquidity management, virtual accounts, and core banking solutions. These offerings are tailored to the needs of Canadian financial institutions, helping them enhance customer experiences, drive growth, and meet regulatory requirements. Intellect, in the same month, also introduced a digital technology suite called Intellect Digital Core (IDC), designed for cooperative banks. This suite facilitates digital transformation by incorporating modern technologies to meet the demands of customers in tier-2 and tier-3 cities.