Intellect Design Arena has announced a global strategic partnership with Wipro Limited . This collaboration will focus on integrating Wipro’s IT services with Intellect’s eMACH.ai platform, a technology aimed at enhancing efficiency and digital transformation within the banking and insurance sectors.

The partnership seeks to combine Wipro's technological capabilities with Intellect’s eMACH.ai platform to provide IT solutions for financial institutions. The joint effort will concentrate on leveraging data and artificial intelligence to help organizations adapt to the evolving market. The agreement includes joint activities to identify client opportunities, offer support services such as project management and cloud solutions, and provide specialized training to Wipro’s personnel.

About the companies Intellect Design Arena provides composable financial technology solutions and operates in 57 countries. Its eMACH.ai platform is designed to be a comprehensive, open finance solution with extensive microservices, events, and APIs. The company focuses on various lines of business, including global consumer banking, transaction banking, AI, and digital technology for commerce.

Wipro, a player in technology services and consulting, will contribute its expertise to support the deployment of these solutions. This partnership is intended to drive digital innovation and enhance operational efficiencies for global financial institutions. Wipro and Microsoft In May 2024 Wipro announced a collaboration with Microsoft to develop a suite of cognitive assistants for the financial services sector, utilizing generative artificial intelligence (GenAI).

These cognitive assistants, powered by Azure OpenAI, are designed to offer financial professionals market intelligence and timely information on investment products and investor behavior. The technology aims to streamline the investor onboarding and loan origination processes by reducing document validation times and providing contextual responses to investor inquiries. The cognitive assistants will integrate with existing mobile and digital platforms, ensuring a unified and seamless user experience for both financial professionals and their clients.

This initiative is expected to improve the efficiency of market and product intelligence delivery and reduce the time and steps involved in investor onboarding and loan origination. .