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HomeAIIntellect launches new open finance-based core banking platform, eMACH.ai

Intellect launches new open finance-based core banking platform, eMACH.ai

Date:

Intellect Global Consumer Banking has launched eMACH.ai, an open finance-based core banking platform hosted on the Amazon Web Services cloud. The platform enables financial institutions to create custom products using AI, offers more than 285 ready-to-use microservices, and connects with 1,214 APIs.

Facts

  • Intellect Global Consumer Banking has launched eMACH.ai, an open finance-based core banking platform hosted on the Amazon Web Services cloud.
  • The company claims the platform is the largest of its kind globally and includes a pre-integrated marketplace for UK and Europe.
  • The platform enables financial institutions to create custom products using AI and offers over 285 ready-to-use microservices on the cloud and connects with 1,214 APIs.
  • eMACH.ai facilitates fast customer onboarding, enables fintech integration to offer deposits through aggregators, and offers credit services such as buy now, pay later (BNPL), among other functionalities.
  • The platform is fully compliant with UK, EU, and Nordic regulations, including data privacy, anti-money laundering (AML), consumer protection, and messaging standards.
  • It supports various payment rails and allows users to choose their preferred payment method.
  • Rajesh Saxena, CEO of Intellect Global Consumer Banking, said the new platform “democratises the financial services space by creating a level playing field for all types of banks in the UK and Europe.”

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