As part of its continuous effort to push Africa to the forefront of the global economy by devising leading strategies, designing innovative systems and developing people towards improving system efficiency and excellence, Phillips Consulting Limited (PCL), has partnered with Intellect Design Arena Limited, a global leader in Financial Technology for Banking and Insurance to accelerate the digital banking and channel transformation journey of banks in Nigeria.
The most prominent offerings of Phillips Consulting through the partnership with Intellect Design Arena is the Intellect Digital Core Banking Solution (CBX). This banking solution is designed to help banks to accelerate their digital banking and channel transformation journey. Intellect Digital Core comes with a Digital 360 proposition with an inbuilt design for both Digital Outside and Digital Inside. Digital Outside ensures true Omni-channel and consistency of customer experience at all touch points while Digital Inside drives operational excellence. Flexible and scalable, the Intellect platform is built around customer experience. Interestingly, this partnership allows at Phillips consulting’s own Fintech Consultants render on-going support to banks after implementation.
This collaboration is in alignment with Phillips Consulting long-standing strategy of establishing a global alliance that would push Africa into the limelight of innovation. Intellect Design Arena is a company that generates annual revenues of more than $169 million, serving more than 200 customers, across 24 countries and is positioned at the forefront of the digital transformation that global banks are looking for in a connected world, all these make this a perfect partnership.
Speaking about the new digital banking platform, Managing Director of Phillips Consulting, Mr. Robert Taiwo, said “In banking, the digital discourse has shifted from ‘nice to have’, to critical business imperative. Market share will increasingly swing to those banks that can quickly and effectively respond to technology advancements. The ability to grapple with 4.0 technologies such as AI, Big Data, Robotics, and Blockchain, will differentiate the leaders from followers. Superior interconnectivity and system integration will enhance customer-centricity and this by default will accelerate first mover advantage.”
Progressive financial institutions in Nigeria rely on the partnership between Phillips Consulting and Intellect for digital transformation initiatives such as Intellect Global Transaction Banking with Supply Chain Finance, One Treasury Platform, Intellect Retail Banking eXchange, Intellect Digital Branch, Intellect Collect, Intellect Corporate Business Exchange, Intellect Core Banking Application, Intellect Loan Origination, Intellect Basel 3 etc, cutting-edge products & solutions for banking and insurance, with design being the companies’ key differentiator in enabling digital transformation.
Mr. Taiwo advised that technology must not become the end in itself. “Me too” strategies will not be effective. CEOs must therefore drive business aligned digital strategies which speak directly to the operating models and value propositions of their respective organisations”. Recently, a top Merchant Bank adapted this solution, making it the first to adopt the platform in Nigeria. And we are sure that several financial institutions in Nigeria will soon show interest in this new digital platform.
