IDBI Intech
Incorporated In 2000, Idbi Intech Limited (Intech) Is A Wholly Owned Subsidiary Of Idbi Bank, One Of The Leading Banks In India. We Leverage Disruptive Technologies To Deliver Business Outcomes That Digitally Enable Our Clients’ Business To Stay Relevant And Future Ready
Incorporated In 2000, Idbi Intech Limited (Intech) Is A Wholly Owned Subsidiary Of Idbi Bank, One Of The Leading Banks In India. We Leverage Disruptive Technologies To Deliver Business Outcomes That Digitally Enable Our Clients’ Business To Stay Relevant And Future Ready
IDBI Intech has been the IT backbone of IDBI Bank Ltd. and its Subsidiaries & Associate companies and provides end-to-end IT services to IDBI group companies. The services provided by Intech include software development, customizations of IT solutions, required support in implementation of third-party software, management of Data Centre, Disaster Recovery (DR) and Near DR sites, IT consultancy services, Training and Certification, BPO Services.
Intech core strength is its vast pool of human capital comprising of highly experienced and dedicated teams of technical and functional domain experts. As a total IT solution provider, Intech has been catering to several external clients in BFSI sector with its innovative products and services developed by leveraging new and emerging technologies as well as by adoption of industry and international best practices. It offers customized products and services with an aim to render optimal and cost-effective IT solutions and services which provide improved performance, operational efficiency and meets Compliance requirements.
During the Financial Year 2019-20, the company under new professional leadership has re-designed its business strategies along with focus on widening and deepening of the external market through sale of in-house developed products to maximize revenue and profit by acquisition of new clients and offering new line of product and services to our clients. In addition, a new business line of training at educational institutes has also been introduced.
During the Financial Year 2019-20 the economy was struggling due to COVID-19 pandemic, But Intech has embarked upon and concluded various IT projects for its clients. Some of the specific initiatives done for parent IDBI Bank have been enumerated below:
- Finacle 10.x Migration
- FEBA Migration
- Dispute Management (Debit Card Operations)
- Dynamic VAS account generation
- PM-SYM Scheme – Mandate Registration
Also, Our Enterprise-Wide Reconciliation and Settlement System (i-Recon) has been PA-DSS certified in the financial year 2019-20.
The use of certified payment applications contributes to the reduction of the risk of card data theft. PA-DSS supports solution providers with the development of new payment applications and helps merchants reach compliance according to PCI DSS (Payment Card Industry Data Security Standard).
Our portfolio of services and solutions are built on the foundation of deep knowledge having worked with leading Banking, Financial Services, and Insurance customers in India and abroad through the years. This is further enhanced by our significant investments in the latest industry solutions for Banking and Insurance, keeping in mind customer satisfaction and market demands as top priorities. Our next-generation technologies currently being leveraged include Blockchain, Artificial Intelligence, Machine Learning, and more—all of which is bringing end-to-end digital transformation for our global BFSI clientele.
Customer Delight is our ultimate goal. Building on our promise of creating seamless digital experiences and resting on responsive services, agile operational models and strategic capabilities to accelerate value creation for our patrons, we are orchestrating change and delivering personalised experiences. Over the years, we have established a distinct identity with our products and solutions. This has not only earned us industry accolades but, has also motivated us to deliver on the trust bestowed on us by our customers.
Our products are built on future ready technologies which are platform-agnostic, secure, and easily scalable. Intech’s specialisation is in Regulatory Compliance, varied Payment’s solutions built on Future Ready Technologies. Making ‘The Customer WIN’ is our brand identity which we achieve through our core values of integrity, ingenuity and intelligence. Keeping up the passion and commitment in IDBI Intech being a trustworthy and admired brand is our energy.
MESSAGE FROM CEO: MR. SURAJIT ROY
“We have embraced new and advanced digital technologies, enhanced our ability to constantly improve our knowledge and skills and retained resources or acquired skilled people to sustain a competitive edge over others.”
The last financial year has been quite challenging for India. Due to economic headwinds caused by the Corona virus pandemic and muted growth across sectors, a direct impact was felt on the Banking Financial Insurance Industry sector. Although hopes of a recovery improved sentiments towards the end of the last fiscal, the second wave of the pandemic presented fresh challenges that impacted businesses across sectors. Despite unfavourable circumstances, at IDBI Intech, our prudent customer-centric approach and digital readiness helped us register a successful year, wherein we grew above the industry average.
We continue to leverage competencies and latest technologies. We offer wide range of established software products for Combating financial Crime such as Anti-Money Laundering Solution (i-AML) – integrating with multiple watchlist through APIs, Trade Based Money Laundering (i-TBML), Early Warning System (i-EWS), Fraud Risk Management (i-FRM) and Real time Transaction Monitoring (i-RTMS). We also have Enterprise-Wide Reconciliation and Settlement System built on International Security Standards – PA DSS certified, i@Connect (payment middleware) and specialized services in the areas of application development and support. We offer Banking Compliance-as-a-Service on a secure enterprise cloud. We are all set to grow and expand as a Fintech company.
OUR PERFORMANCE OVERVIEW
Our robust performance is a result of our strategic ability to translate ideas into action, over the past few years. We have embraced new and advanced digital technologies, enhanced our ability to constantly improve our knowledge and skills and retained resources or acquired skilled people to sustain a competitive edge over others. We have adopted methods that seek to effectively and holistically serve the needs of the customers, backed by a strong emphasis on internal collaboration and synergy.
Even amidst the disruption caused by the Covid-19 pandemic, the resilience and strength of our agile business model enabled us to efficiently tide through crisis. Our continuous efforts to promote Digital Innovation and enable digital access to financial services proved invaluable in an environment where businesses continued to operate through virtual platforms. Our responsive solutions enabled us to fulfil customer requirements and empowered them to remain connected & stay ahead and relevant in their journey, during a challenging period.
“FY 21 has been one of the highest Profitable Business Growth for IDBI Intech Ltd since inception as we surpassed all business parameters of growth. Looking at the growth in past three years, IDBI Intech has substantially managed to grow with average 20% year on Year growth in its revenue and 40% in Net Profit. Not just this, IDBI Intech Ltd has achieved numerous eminent Industry Awards in FY 2021.
Some of these have been provided by top Indian Business Platforms such as the Best Tech Brand 2021, Prestigious Brand 2021, Most Trusted Brand of India 2021, I MoBOT (WhatsApp Banking) for social media, I Quick for instant Bank Account Opening Application, etc. The company’s Flagship Product iAML©, which is popular as a top Financial Crime & Compliance Solution, is considered a noteworthy innovation and regarded well in the market.
Setting a higher level of ambitious innovation to make IDBI Intech Ltd one of the top Digital Technology-led Leading Global Business Transformation organizations powered by integrating the latest disruptive technologies like AI and ML, we are working arduously to strive for satisfactory customer experience in the BFSI sector. “Our business expansion to global customers is an integral part of our strategy – have planned a three-year milestone-based business growth initiative. We are addressing these markets leveraging our strong portfolio of Information Technology Products, Services, and Solutions. By Delivering consistent profitable growth, with a goal of “MAKING THE CUSTOMER WIN”
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