Banking industry gets new digital solution from Phillips Consulting

Phillips Consulting Limited has introduced a new financial solution- Intellect Digital Core Banking Solution, in the sector, described as cutting-edge technology.

The Managing Director of Phillips Consulting, Robert Taiwo, who spoke on the development, said: “In banking, the digital discourse has shifted from ‘nice to have’, to critical business imperatives.

“Market share will increasingly swing to those banks that can quickly and effectively respond to technology advancements.

“The ability to grapple with 4.0 technologies such as AI, Big Data, Robotics and Blockchain, will differentiate the leaders from followers.

“Superior interconnectivity and system integration will enhance customer-centricity and this by default will accelerate first mover advantage.”

Phillips Consulting had collaborated with Intellect Design Arena Limited, a global company that offers services in financial technology for banking, insurance and other financial services, in developing the solution.

Intellect Digital Core banking solution is a comprehensive, integrated, yet modular and agile business solution, addressing all core banking needs.

It is designed to help banks accelerate their digital banking and channel transformation journey and provides all the building blocks of business functionality, enabling users to flexibly configure products and processes to adapt to a dynamic environment.

Through this partnership with Intellect Design Arena, Phillips Consulting builds local capacity by playing an integral role in the joint implementation and on-going support of Intellect Digital Core in Nigeria.

Although the Intellect Digital Core Banking Platform is new to Nigeria, a new age bank has already implemented it.