The transformation will span engagement across onboarding, account services (current & savings accounts), payments & transfers, cards, digital lending and back office. The deployment of DEP and CBX will be facilitated on a fully managed cloud platform, highlighting a strategic move towards scalable and secure digital member experiences.

Rajesh Saxena, CEO, Intellect Global Consumer Banking (iGCB), Intellect Design Arena, said, “Our DEP and CBX platforms are designed to cater to the dynamic needs of modern financial institutions, and we're excited to see how this partnership will enable Vanity’s offerings. This partnership is not only a pivotal moment for Intellect and Vancity but also sets a new benchmark in digital banking innovation, showcasing the potential of strategic collaborations in creating enhanced value and experiences for credit union members worldwide.”

Intellect Design Arena has a comprehensive portfolio of products across Global Consumer Banking, Central Banking, Risk & Treasury Management, Global Transaction Banking and Insurance and is engaged in the business of software development.

The company’s consolidated net profit declined 6.59% to Rs 85 crore on 1.45% fall in total revenue to Rs 612 crore in Q4 FY24 over Q4 FY23.