With a composable and cloud-native platform, it has the ability to converge financial offerings such as credit products, cards, payments and banking services to create integrated user journeys across the financial ecosystem. Ecommerce players, financial institutions and NBFIs in Europe can leverage this platform to curate credit experiences for their consumer and commercial segments.

The world of credit and payments is undoubtedly one of the most disrupted domains in the financial world. Boundaries of ecosystems are getting blurred while possibilities are being redefined, whether it is for a bank or a non-banking financial institution or an ecommerce player or even a Fintech. This has led to reimagining customer experiences, with an imperative objective to be the primary engagement point of target customers.

Rajesh-Saxena Rajesh Saxena, CEO, Intellect Global Consumer Banking, said, “The game has shifted beyond lending and lending products. This is significant, considering we are beyond the age of siloed products and services; it’s now a customer-in-the-centre world. The foundation for creating personalised and curated customer experiences is a technology where the building blocks and APIs play a central role”.

We are witnessing a significant convergence in the world of credit, and that’s exactly what the revolutionary iKredit360 platform is all about. iKredit360 converges multiple elements such as relationship engagement channels, financial products, lifecycle, core systems and external systems such as credit bureaus, regulatory bodies, rating agencies and fintechs, while providing the connecting framework across the ecosystem. One of the best examples where iKredit360 can help financial institutions reimagine their credit propositions is the Buy Now Pay Later (BNPL) offering.

iKredit360 = Convergence + Connections + Cloud
The problem that financial institutions usually face in curating a holistic experience is the challenge of picking up individual pieces of the solution from multiple vendors. These disparate parts create havoc, as more often than not, the underlying technology architecture of these pieces can be completely different. To add to that, any new technology needs to harmoniously co-exist with existing technology platforms and core product systems, and at the same time, have to shake hands with an external ecosystem or a marketplace seamlessly. The iKredit360 platform has been designed on a robust and agile foundation, with a rich set of building blocks, comprising up to 90 Packaged Business Components (PBCs), exclusively for European markets. The technology design of iKredit360 harmonises the convergence of the PBCs (both internal and external) with a built-in, configurable integration framework (iTurmeric). This makes experiences seamless, frictionless and extensible. The platform is cloud-native, bringing the double benefit of cost and risk management.

Whether it is an ecommerce player in Europe wanting to extend the purchase and payment experience OR a traditional bank going digital along with a strong cross sell strategy OR a financial institution aspiring to extend its experiences in Retail lending/payments domain with reimagined products like Buy Now Pay Later (BNPL), iKredit360 is the perfect solution to curate experiences in an integrated credit ecosystem.