Intellect Design soars over 14 per cent on bagging large deal from Concentra Bank

The software company, Intellect Design Arena announced on Tuesday that it has been selected by Concentra Bank to power its exciting new digital banking strategy.   

After a rigorous process, the bank has selected Intellect’s cloud-native, which is a digital banking platform. Since 2018, Concentra Bank has been expanding beyond its role from a mere leading wholesale bank for Canadian credit unions to encompass specialised retail & commercial banking. The bank has a track record to enter into collaboration with the fintech companies and introduce innovative products while providing the Canadian markets with further digital transformation.   

Concentra’s new banking platform will underpin its value proposition of being a seamless, helpful digital banking experience for its customers and will offer Canadian’s credit unions with a broader range of products & services.

The stock of Intellect design Arena soared more than 14 per cent during the early morning hours thereby, touching the day's high of Rs 713.20. Besides, the stock ended today's trading session at Rs 695.20, up by 11.48 per cent on BSE.

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