Intellect Design Arena shares price gain on holding order from SBI

Intellect Design Arena shares price gain on holding order from SBI

Intellect Design Arena share price rose 2 percent intraday on December 7 after the company that specializes in digital technologies for banking and insurance sectors bagged an order from State Bank of India for its digital wealth transformation.

Intellect Design Arena said that India's largest public sector bank had chosen Intellect Wealth Qube-Digital Wealth Management suite for its digital wealth management transformation agenda.

The wealth management business is the bank’s top priority and its primary task is to offer the best products across categories from leading fund houses, giving their customers the flexibility to invest, transact and view their portfolio through digital channels such as internet banking, mobile and remote relationship model and the Bank felt that Intellect’s Wealth Qube was the perfect fit, the company said in an exchange filing.

Also Read : Intellect Design Arena trades higher for 6th day; Stock Hits record peak

The stock was trading at RS 658.15, up RS 10.75, or 1.66 percent, at 11.40 am. It touched an intraday high of RS 668 and an intraday low of RS 646.65.

Intellect Design Arena has cloud-native, API-led microservices-based multi-product FinTech platform in banking, insurance and capital markets.

It offers a full spectrum of banking and insurance technology products through its four lines of businesses —Global Consumer Banking, Global Transaction Banking (GTB), Risk, Treasury and Markets, and Insurance, it said.

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