Intellect Design Arena gains on bagging order from Cathay United Bank
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Intellect Design Arena is currently trading at Rs. 557.40, up by 1.15 points or 0.21% from its previous closing of Rs. 556.25 on the BSE.
The scrip opened at Rs. 558.10 and has touched a high and low of Rs. 564.60 and Rs. 553.35 respectively. So far 7576 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 986.00 on 07-Apr-2022 and a 52 week low of Rs. 529.00 on 16-Sep-2022.
Last one week high and low of the scrip stood at Rs. 589.00 and Rs. 529.00 respectively. The current market cap of the company is Rs. 7583.06 crore.
The promoters holding in the company stood at 30.76%, while Institutions and Non-Institutions held 27.10% and 42.14% respectively.
Cathay United Bank has chosen Intellect Design Arena’s -- Intellect Global Consumer Banking (iGCB), to implement iGCB’s acclaimed digital credit platform -- iKredit 360 to power the next growth stage of their lending business in Vietnam.
One of the largest and most prestigious financial groups in Taiwan, Cathay Financial Holdings has been in Vietnam for over 20 years now. Over the years, the institution has expanded their presence to include joint venture bank, foreign bank branch, life insurance subsidiary and property and casualty insurance subsidiary. The bank is now planning to launch their retail lending business in Vietnam and looking for a digital lending platform that could enable them to offer both commoditized and specialized credit products such as BNPL (Buy Now Pay Latter) to their customers.
The bank chose iGCB’s state of the art credit platform iKredit360 to meet the ever-changing needs of credit seekers. An end-to-end loan lifecycle management system comprising of Loan Servicing, Collateral & Limits Management and Partner Management, iKredit will empower Cathay United Bank to become the lender of choice in Vietnam.
iGCB is the Retail and Central Banking Solutions arm of Intellect Design Arena, offers an end-to-end Contextual Banking suite for retail and corporate banking across Core Banking, Lending, Cards, Digital Banking, and Central Banking.
Intellect Design Arena, a global leader when it comes to applying true digital technology, is the world’s first financial tech company that covers the entire spectrum of banking and insurance needs with its wide suite of products.
