Intellect Q1 FY 16 revenues grow 34% Y-o-Y

Chennai, India, July 29, 2015: Intellect Design Arena Ltd, a specialist in applying true Digital Technologies for Banking & Insurance, announced its first quarter results today, for FY 2015-16.  Intellect drives some of the most successful digital strategies across Global Consumer Banking, Global Transaction Banking, Risk & Treasury Management and Insurance.

 

Intellect strongly differentiates itself in the global market place with Digital 360, an integrated approach to accelerate digital transformation programs.  The ‘Digital Outside’ strategy is customer-facing and ensures the same quality of experience at all customer touch points. The ‘Digital Inside’ strategy is synonymous with lean operations, and connects all customer journeys to integrated process orchestration and centralized risk management.

 

Performance highlights 

For the quarter ended 30th June, 2015: 

  • Revenues grew 34% YoY and stood at Rs 193 Cr. Crossed $30 Million mark.
  • 13 new wins highlighting the acceptance of Intellect products in the global market place. 49% of revenues came from Advanced markets
  • 2 Major Digital Transformation deals won this quarter, one in North America & one in APAC
  • Gross Margin sustained at 50% level over last 12 quarters
  • R & D Costs contained within $ 20 Mn annually
  • S&M at 29% of revenues vis a vis 32.13% in the previous quarter
  • Reduction of DSO by 10 days.

 

Business Highlights

 

Intellect is structured into 4 lines of business with independent leadership teams to drive predictable growth. Some of the business highlights are: 

1. Global Transaction Banking (iGTB):
a. App based new-age face of Corporate Banking
b. Leadership for integrated GTB in Middle East
c. Acceptance of Payments Solutions in North America.

2. Global Consumer Banking (iGCB):
a. Unique Omnichannel Retail Banking Exchange using App based technologies.
b. Single solution encompassing Online, Mobile, Branch Banking and Call Center.
c. Comprehensive lending platform for SMEs, integrating Origination, Loan processing and Collections

3. Risk & Treasury Management (iRTM):
a. Next-Gen single solution connecting front office, mid office, back office across all assets classes with
integrated risk management
b. Comprehensive Basel III Liquidity Risk Management (LRM) product
c. Plan to launch One LRM in Sep 2015

4. Insurance (intellectSEEC)
a. Digital Underwriting using Social Media, Big Data and Artificial Intelligence
b. Exclusive partnership with Outside IQ to deliver the most advanced Risk Discovery tool in the
Insurance industry
c. Large deal won in North America for Digital Distribution 

Arun Jain, Chairman and Managing Director, Intellect Design Arena Limited said, “The first quarter has been a good start to this financial year. In the first year of independent operations since the demerger from Polaris and public listing, we focused on designing the business model for predictable, profitable growth. We made the right investments to position us to ride the Digital wave and partner banks, financial institutions and insurance companies for their digital transformation programs. We are building 4 robust businesses, providing the digital edge to Consumer banking, Transaction banking, Risk & Treasury and Insurance. We have equipped the businesses with the right leadership capacity to drive product leadership. The acceptance of our New-age products in advanced markets such as North America and Europe, as well as winning two significant digital transformation deals in North America and APAC is extremely encouraging.” 

S Swaminathan, Chief Financial Officer, Intellect Design Arena Limited, said, “We are on track to meet our guidance of revenue growth of 22% to 26% this year. There has been a significant reduction in losses from Rs. 29 crore in the previous quarter to Rs. 11 crore in quarter one. We are managing investments in digital platforms and market opportunities for sustained growth”.

© Technuter.com News Service

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