Intellect Design Arena Ltd on Monday (March 3) said Intellect Design Arena Inc, Canada, has completed the transfer of digital banking operations from Central 1 Credit Union. The transition, effective March 3, 2025, includes Central 1’s Forge, MemberDirect, public website, and mobile applications.
As part of the agreement, over 140 digital banking engineers and service team members from Central 1 have joined Intellect to ensure seamless operations and client support. Central 1 will continue to provide technology and infrastructure-related services during the transition phase.
With this, Intellect has become one of the largest technology providers to the Canadian financial services industry, having more than 170 credit unions and banks as clients.
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Central 1’s former digital banking clients will now have the opportunity to select from the curated commercial plans for Intellect’s digital banking platform (eMACH.ai Digital Engagement Platform) with specific Canada-ready out-of-the-box bundles for retail, SMB and commercial members.
Intellect offers capabilities equivalent to Forge and further enhancements with new-age digital experiences and usability. Incremental features that drive member growth include new member self-onboarding, personal finance management and loan origination.
The Intellect platform is available as a multi-tenant SaaS offering and is integrated into a rich ecosystem of third-party providers, including banking hosts.
Also Read: Intellect Design Arena eyes ₹700 crore revenue in Q4FY25
Sheila Vokey, President and CEO of Central 1, said, “The Intellect team, which now includes those joining from Central 1, bring a strong commitment to seamless service and collaboration. We are confident that this approach provides the most stable path forward for clients and for Central 1 as clients transition to new digital banking platforms over the next few years.”
Shares of Intellect Design Arena Ltd ended at ₹647.60, down by ₹17.95, or 2.70%, on the BSE.
