Press Releases

Intracom Telecom and Intellect Design Arena Transform the Digital Banking Systems in Armenia

Athens, Greece 13 November 2018 - Intracom Telecom, a global telecommunication & IT systems and solutions vendor, together with Intellect Design Arena, a global leader in financial technology for banking, insurance and other financial services, announced the introduction of "Intrallect Banking Solutions", a novel joint cloud-based proposition, enabling the end-to-end digitalization of the Armenian commercial banks operations in the most secure, efficient and scalable manner.

The partnering companies organized on November 8, 2018, a dedicated event on the transformation of digital banking systems of the Armenian banking sector in the city of Yerevan, Armenia. During the event, Intellect Design?s and Intracom Telecom?s top-level managers analyzed to the participating banks the future challenges that the banking sector will face and presented a number of differentiating factors that allow organizations and financial institutions to benefit from this joint innovative solution. More specifically, with Intrallect Banking Solution, banks are able to optimize TCO, digitize operations, differentiate in the market by launching innovative product offerings and offer unsurpassed customer service experience, all via a digital model designed for the Armenian regulatory framework & ways of working.

Intrallect's end to end integrated Digital Core banking-on-the-cloud is a truly digital solution, as it brings a Powerful differentiator, the Digital 360 Proposition. Digital Outside drives superior customer experience and Digital Inside drives significant operational efficiency.

Moreover, it is worth noting that Intellect Design together with Intracom Armenia, member of Intracom Telecom Group, are already implementing with great success a core banking transformation project in the Central Bank of Armenia.

Mr. Georgios Blekas, CEO of Intracom Armenia, noted: "I would like to thank all C-level participants for taking the time to explore our unique cloud-based core banking solution. I am confident that the Armenian banks can benefit from this customer-centric solution and transform smoothly and successfully into digitally driven smart banks, with the technology and expertise of two leading international players into Intrallect Banking Solutions".

Mr. Banesh Prabhu, Director of Strategy of Intellect Design, remarked: "Our introduction of Intrallect Banking Solutions in Armenia has been extremely well received by the banking community. Initial feedback from most of the executives we have spoken to is exciting, we are pleased that our proposition comes at the right time, and that soon we will see several banks moving to our digital cloud banking systems".

About Intellect Design Arena

Intellect Design Arena is a global leader in Financial Technology for Banking, Insurance and other Financial Services. A uniquely focused Products business, Intellect addresses the needs of financial institutions in varying stages of technology adoption. Intellect embodies rich Intellectual Property and robust platforms & products across Global Consumer Banking (iGCB), Central Banking, Risk & Treasury Management (iRTM), Global Transaction Banking (iGTB) and Insurance (Intellect SEEC). With over a decade of continuous and significant research and development investment, the Intellect suite is the largest in the industry. With cutting-edge products driving value in over 250 financial institutions in 55 countries, Intellect is resolutely customer centric.

About Intracom Telecom

Intracom Telecomis a global telecommunication & IT systems and solutions vendor operating for over 40 years in the market. The company has become the benchmark in fixed wireless access and innovates in the 5G/4G wireless fronthaul, backhaul and small-cell SON backhaul. It offers a comprehensive portfolio of software solutions and a complete range of ICT & Cloud services, focusing on IoT, SDN/NFV, Big Data analytics & data-driven intelligence, and Smart City solutions. It also addresses the Energy & Utilities industry, emphasizing on smart metering and complete IT solutions. Its subsidiaries span across Europe, Russia/CIS, the Middle East and Africa, Asia and North America. Intracom Armenia LLC, a subsidiary of Intracom Telecom, was established in May 2005, while the group has had a long-standing presence in Armenia through its representative office in Yerevan since 1999.