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The Silicon Review Asia

Reserve Bank of India Picks Intellect Design Arena to Power its Next Stage of Digital Transformation

Reserve Bank of India Picks Intellect Design Arena to Power its Next Stage of Digital Transformation

Intellect's Quantum Central Banking Solution, known as e-Kuber in RBI, is currently supporting the entire central banking operation

India-based Intellect Design Arena has been selected by Reserve Bank of India to implement Intellect's Cloud-Native Intellect Quantum Core Banking solution to help undertake the latter's next stage of digital transformation.

The central bank of India is one of the largest in the Asia region and has a balance sheet of INR 57076.69 billion. It provides support to the world's sixth largest economy by implementing various money policy tools.

“Intellect Quantum Central Banking Solution underlying MACH –enabled architecture will enable RBI to stay future-ready, with the ability to quickly and easily upgrade their systems, and navigate through the ever-changing economic landscape. We are excited for RBI to leverage the present-day best practices and the best of innovation from across the world with the latest version of our award winning central banking solution," said Rajesh Saxena, CEO of Intellect Global Consumer Banking.

Intellect's Quantum Central Banking Solution, known as e-Kuber in RBI, is currently supporting the entire central banking operation. The solution will support over 100 million transactions and 30+ million ISO20022 payment messages on a peak day; the platform supports 250+ commercial banks, 35 state government and union territories along with a number of Central Government ministries.

Now, the RBI has again turned to Intellect Design Arena to help with e-Kuber 2.0, which will help the RBI support the transaction volumes that are expected to grow several-fold over the next decade.

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