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Phillips Consulting launches digital banking platform

Phillips Consulting launches digital banking platform

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Feyisayo Popoola

Phillips Consulting Limited has partnered Intellect Design Arena Limited to develop and jointly implement a new digital banking platform called ‘Intellect Digital Core Banking Solution’.

The firm said in a statement on Wednesday that the new digital banking solution was developed to accelerate the digital banking and channel transformation journey of Nigerian banks.

It said Nova Bank was the first organisation in the country to adopt this technology.

The statement read in part, “Intellect Digital Core Solution comes with a digital 360 proposition with inbuilt design for both digital outside and digital inside. Digital outside ensures true omnichannel and consistency of customer experience at all touch points while digital inside drives operational excellence.”

A Senior Partner at Phillips Consulting, Mr Seun Ngonnase, said implementing the core banking solution would save time and resources.

He said, “In today’s world, banks require a single, seamlessly integrated global payments system for domestic and cross-border transactions. This system must eliminate manual tasks and enhance interoperability. Implementing intellect’s core banking platform will save time and money for banks while providing value-added services to their customers.

“The whole idea is based on the concept of contextual banking; customers should bank in the way they want to and how they want to. As leaders in strategy and being at the forefront of digital technology and innovation, Phillips Consulting joined forces with Intellect Digital Arena to implement this platform, not just as a digital solution for banks, but as an accelerator of data analytics, artificial intelligence and machine learning.”

The Chief Executive Officer, Nova Merchant Bank, Mr Chinedu Ikwudinma, said the aim was to identify a solution provider geared for the future.

The Chairman, Nova Merchant Bank, Mr Phillips Oduoza, added that the selection of the intellect digital core was born out of the bank’s philosophy of ‘New Thinking, New Opportunities’.

“We wanted a platform that would empower our clients, offer a superior customer experience and lay a robust digital foundation for the bank. Intellect digital core is an open and flexible architecture that allows us to seamlessly integrate with other systems to offer end-to-end solutions,” he said

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