Intellect launches ‘eMACH.ai’ finance platform in Sri Lanka

By Ishan Sheriffdeen 
Intellect Design Arena Limited, a global leader in financial technology for banking, insurance and other financial services, launched the ‘eMACH.ai’ open finance platform in Sri Lanka this week, that keeps the banks’ customers in focus, be it retail, corporate, SME or 
high-net-worth individuals. 
Comprising an array of 329 microservices, 535 events and over 1757 APIs, eMACH.ai is considered to be the first Principles Thinking-based platform that enables financial institutions build future-ready solutions, providing them with a global 
competitive edge. 
Sri Lanka has been the fourth market for the Chennai-based fintech company to launch the eMACH.ai platform after New York, London and the Middle East. 
Explaining the importance of launching it here, Intellect Design Arena Ltd CEO India and South Asia Ramanan SV said, “Sri Lanka is at a pivotal point in its digital transformation journey. The launch of eMACH.ai in Sri Lanka comes at a time when fintech innovation is rapidly reshaping the financial services landscape globally. Key trends such as the rise of digital payments, AI-driven banking solutions, Open Banking frameworks and cloud-based infrastructure are redefining how financial institutions operate across the world. 
Sri Lanka too is witnessing this shift, with a growing focus on digital transformation to improve financial inclusion, streamline operations and create customer-centric experiences. We have been meeting the Sri Lankan banks and offering technology solutions for over a decade. Our franchise over here, the banks we work with, their clients have really helped us understand the distinctive needs of the market. We believe there’s a very important role that can be played by us,” Ramanan added.
Intellect says, by investing in cutting-edge technologies, enhancing digital infrastructure and fostering a regulatory framework, the Sri Lankan banks can improve financial inclusion and operational efficiency and thereby attract foreign investments. According to the company, the eMACH.ai platform’s per product investment would range between around US $ 300 000-400000 per annum.
Intellect Chief Marketing Officer Debal Dutt also shared that several Sri Lankan banks have already shown interest in embracing the eMACH.ai platform and said the inking of any deal is yet to take place. 
Intellect Design Arena Limited currently provides composable and intelligent solutions for global financial institutions across 57 countries. It already works with several prominent financial institutions in Sri Lanka, including HDFC Sri Lanka, Regional Development Bank (RDB), Cargills Bank, Commercial Development Bank (CDB), Central Finance, Seylan Bank and Union Bank of Colombo.