Intellect Design Arena will offer digital solutions to The Commonwealth Trade Bank.

Intellect Design Arena announced that it would offer its Digital Core solution, IDC 19.1, to the UK-based The Commonwealth Trade Bank.

Intellect Design Arena, a specialist in financial technology across the banking and insurance sectors, announced a prestigious engagement with The Commonwealth Trade Bank (CTB) on Wednesday. CTB is a UK-regulated wholesale bank, focused on supporting the financial needs of clients operating in the international trade arena. The fintech firm will implement its Digital Core solution, IDC 19.1, to the bank. This solution is well poised to accelerate the Bank’s digital transformation initiatives and drive its vision of becoming a leading technology-enabled trade finance bank.

The Commonwealth Trade Bank (CTB) chose Intellect’s fully integrated IDC 19.1 solution across corporate core, digital channel, lending, domestic and cross border payments, treasury, retail deposits, enterprise general ledger, and a robust regulatory reporting engine on a fully hosted model.

On Thursday, the stock of Intellect Design Arena opened at Rs. 192.60 per share and made an intraday high and low of Rs. 194.7 and Rs. 191, respectively on the BSE. At 10.45 am, the stock was trading at Rs. 193.2, up by 3.21 per cent.