Phillips Consulting introduces Intellect Digital Core banking solution into Nigeria financial system

Phillips Consulting Limited (PCL), leading management consulting firm, has announced the introduction of a cutting-edge technology, Intellect Digital Core banking solution into the Nigerian banking industry.

A statement said the new solution would transform and revolutionise the Nigerian financial sector, adding that the feat was achieved in collaboration with Intellect Design Arena Limited, a global leading company that offers services in financial technology for banking, insurance and other financial services operators.

“In banking, the digital discourse has shifted from ‘nice to have’, to critical business imperative. 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,” Robert Taiwo, managing director at Phillips Consulting, explained while speaking of the benefits of Intellect Digital Core.

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

Taiwo stated that the solution is designed to help banks accelerate their digital banking and channel transformation journey.

Intellect Digital Core comes with a Digital 360 proposition with an inbuilt design for both Digital Outside and Digital Inside. Digital Outside ensures true Omni-channel and consistency of customer experience at all touch points while Digital Inside drives operational excellence. In addition, it provides all the building blocks of business functionality, enabling users to flexibly configure products and processes in order to adapt to a dynamic environment.

It is expected that through the partnership with Intellect Design Arena, Phillips Consulting would build 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 recently implemented it.

“Technology must not become the end in itself. ‘Me too’ strategies will not be effective. CEOs must, therefore, drive business aligned digital strategies which speak directly to the operating models and value propositions of their respective organisations,” Taiwo added.