Intellect Design Arena inks 7-year deal with Canada's Vancity; stock up 3%

The stock price of the company surged more than 4 percent before paring some gains during the early hours of trading on NSE. The shares were trading at Rs 1,094.1 at 10:48 am, up by 2.64 percent.

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26 Aug, 2025 12:21

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Intellect Design Arena Ltd on June 25 announced a 7-year partnership for Emach.AI composed digital transformation with Canada's largest community credit union Vancity, the former said in a stock exchange filing.

The stock price of the company surged more than 4 percent before paring some gains during the early hours of trading on NSE. The company's shares were trading at Rs 1,094.1 apiece at 10:48 am, up by 2.64 percent.

Through this deal, the Canadian multi-product financial technology company, which provides tech solutions to banks, insurance companies and credit unions, will help harness Intellect’s digital engagement platform (DEP) for retail & SME digital experience along with contextual banking experience (CBX) for commercial digital experience, the company said.

Vancity has over 570,000 members and $35.5 billion in assets under administration, according to the statement. Through this collaboration, the firm is set to “redefine the digital landscape for its Retail, SME and Commercial members”.

The transformation will span engagement across onboarding, account Services (current & savings accounts), payments & transfers, cards, digital lending and back office, the statement added. .

Rajesh Saxena, chief executive officer, Intellect Global Consumer Banking (iGCB), Intellect Design Arena Limited, said, "We are thrilled to join hands with Vancity, a respected leader in the credit union space. This collaboration is a testament to our shared vision of delivering exceptional member experiences through innovation and digital transformation and our commitment to the Canadian market."