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Table of contents Incredible Intellect 2 About Intellect Design Arena Limited 3 Numbers That Matter 4 Letter to Shareholders 6 A Culture of Design Thinking 11 Deep Asset Rich Company to accelerate the Digital Roadmaps of Financial Institutions 13 Contextual Banking for the Information Age 17 The Context of Contextual Banking 19 Infusing Progility in Software Implementation with iTurmeric FinCloud 22 Driving Growth through the Levers of Monetisation 24 The Last Mile in Delivering Customer Delight – D-3 OTIF Implementation 26 Brand Beacons 27 Intellect Executive Council 29 Board of Directors 30 Global Oces 31 Chapter 1 Incredible Intellect We live in a world of personalisation. A world where designing products that work in a way that they you can stream video content on platforms that know understand their end customers’ real needs. An what your favourite box sets are and sends you asset-rich organisation with unparalleled expertise in suggestions about what to watch next. A world the financial technologies domain, driven by our belief where you can personalise those new sneakers that in Contextual Banking - this is perhaps why our have just launched in your favourite colours. customers also call us ‘Incredible Intellect’. This is all made possible from having an in-depth The fact that IBS Intelligence Annual Sales League knowledge of the customer. What context they Table 2020 also ranked Intellect’s Revolutionary operate in and what their circumstances are. This is Contextual Banking Technology as #1 in Retail and at the heart of FinTechs too. Transaction Banking, vindicates our pioneering use of Contextual Banking, based on the Design Thinking Welcome to the world of Contextual Banking, where principles. banks are moving towards a customer-centric model, leveraging data to provide personalised and Comprehending the customer’s psyche, and contextually relevant experiences. empowering them with Contextual and Digital technologies, has been our approach to go beyond The time has come to reimagine banking with the expected and connect with them. Contextual. At Intellect, Contextual is the bedrock for all our products. Real-time, API-enabled and cloud-native, our products are powered by AI and ML, contributing to our Contextual Banking vision of Reimagine Banking with Contextual Annual Report 2019 - 20 02 Chapter 2 About Intellect Design Arena Limited With the evolution of technology growing at an Intelligence and Machine Learning. Intellect’s unprecedented pace, banks aspire to provide their Contextual Banking eXperience (CBX) is where customers the ultimate experience by always being a customer experiences are reimagined to be step ahead of their expectations. At Intellect, our context-aware, seamless and secure with the goal is to take banking into the future, anticipating innovative use of technology. and solving the needs of tomorrow’s business with Contextual, API-first, microservices-based, full We strongly believe in the fundamental promise of spectrum products for banking, insurance and technology through our Design Thinking approach – financial services, built on the principles of Design it helps us connect the dots between business, Thinking, which is our differentiator. technology and operations, to provide unparalleled advantage and value to our customers. There is one unifying promise against which all we do must stand scrutiny – creating value for the In today’s dynamic landscape, Intellect, as an businesses we serve. asset-rich organisation, is forging ahead of the innovation curve. With a customer-centric approach, In the New World Order, meeting our customers' we engineer solutions that are robust, futuristic and requirements will only be possible with products that drive unprecedented value. are designed and built on the cornerstones of real-time and contextual, powered by Artificial Leading with a unique Contextual Banking Experience Annual Report 2019 - 20 03 Chapter 3 Numbers That Matter 1351 Cr $191 Mn 652.2 Cr Consolidated Consolidated Consolidated Revenues for Revenues for Gross Margin FY20 (INR) FY20 (USD) for FY20 (INR) INR Cr INR 253 AMC 248 Cr Revenue License INR Revenue 728 Cr Implementation INR Revenue 122 Cr Cloud Revenue Annual Report 2019 - 20 04 Focus on Advanced Markets Advanced Markets (Americas, Japan, Australia, Singapore and Europe) 59% 41% Growth Markets 240+ 91 Customers Countries Digital-led Wins and Implementations 27 10 44 Deal Wins in Large Deal Wins Implementation FY20 in FY20 (Go-Lives) Annual Report 2019 - 20 05 Chapter 4 Letter to Shareholders Leading with an unique Contextual Banking Experience Markets. I am personally delighted with this milestone and excited about the possibilities ahead of us. As I sat down to pen this letter, I started reflecting on the last four years' journey of Intellect. As you know, Intellect de-merged from Polaris Consulting Services in October 2014. The initial steps of organising the company around the four business units, listing Intellect in the stock exchanges, identifying talent for each of the business lines, and building a brand around Intellect, were allcompleted in the first 18 I wish to start this communication with an exciting months. Soon after that, we started accelerating our news. As we were getting ready with this report, we progress across the six capitals of Brand, End have been rated # 1 in the world for both Retail Customer, Leadership, IP, Execution and Finance - Banking and Corporate Banking, our largest Banking represented by BELIEF as an acronym. verticals by IBS Intelligence Annual Sales League Table 2020. This ranking is based on the new deals In 2016-17, we commenced the Intellect iGTB - won last year and therefore an indication of market/ Oxford Leadership programme that has now become customer endorsement of our products. This a marquee signature event, looked forward to and vindicates our product and market investments, and attended by the who’s who of the Global Transaction strategies. This also places us in the global league of Banking industry. We also commenced design of market leaders, at par with giants in the Advanced Go-To-Market strategies for our products. On the IP Intellect has been rated #1 in the world for both Retail Banking and Corporate Banking - our largest Banking verticals by IBS Intelligence Annual Sales League Table 2020. Annual Report 2019 - 20 06 front, we commenced investments into Artificial Advanced Markets, each with License revenues of Intelligence and Machine Learning, spotting the trend over $10m, an endorsement of the architectural and early in the curve. Those investments have resulted functional superiority of our products. We launched in our capturing several of the top Insurance logos in Intellect Digital Core (IDC), our digital core banking the US for our AI and ML-driven Fabric Data Services platform. We also won the first IDC deal in the UK on and Xponent Underwriting workstation. Our product a cloud deployment mode. We started acquiring User Journeys also started expanding to meet the marquee logos in the Insurance business, where we market requirements, elicited in RFPs. On the Talent deployed AI and ML-driven API-ready products on the capital, we hired several leadership profiles from our cloud. The budding iWealth business acquired two competition and customers - those who were excited wins in Asia. Revenues from Advanced Markets went with the prospect of creating IP in India and building up and so did our perdeal License realisation. Our a global brand. We also commenced design of our revenues and profits, as a result, grew significantly Delivery Excellence framework that would guide us in over a year ago. In our communication to the achieving implementation certainty. We won a key Investors, we had committed that FY19 would be the transformational deal with a large European year of scale up for iGTB. We stood by that customer - which continues to grow from strength to commitment. strength. By the fourth quarter of the year, our operational results were positive. In 2019-20, we built further on the Industrialisation agenda. Our products are now more than 90%+ In 2017-18, we built further on our product User mature with a rich, comprehensive User Journey set. Journeys. We also invested in market presence and We released new versions of our low-coding brand building. Our initial investments towards technology - Canvas 19. We launched an Integration making our products cloud-ready were made. Our platform - Olive Fabric. We went live with the Intellect revenues crossed the Rs. 10 Bn mark. We also won Digital Core in the UK, fully compliant with regulatory, two transformational deals in Asia, resulting in our data privacy and ecosystem requirements. We won License revenues growing significantly over a year more logos from amongst the top Insurers in the US. ago. We won the prestigious Government These go-lives were a further assertion of eMarketplace (GeM) bid against global competition implementing cloud-ready, API-led open architecture and went live with the first phase. We expanded our products in an Advanced Market, delivering over 90% delivery capacity to meet implementation accurate data, a new benchmark in the Industry commitments. In December 2017, we held Lakshya, Fabric Data services - our platform for data our visioning exercise, where we drew up the aggregation, cleansing, validation and provisioning - blueprint for Intellect 2.0 - the journey from 2018 stands proven with these go-lives. The Intelligent Data through 2021 with focus on three themes - Exchange (IDX), which combines data uptake, Industrialisation, Monetisation and Customer- validation and enrichment, was market-tested. It is Centricity. 2017-18 was also the first full year of expected to scale up for monetisation in FY21. profitable growth. Several wins in the Global Transaction Banking business of the prior year went live, some of them In 2018-19, the first year of Intellect 2.0 journey, we winning awards for the respective banks. We won two laid extraordinary focus on the Industrialisation significant deals in the US, both with large Global agenda - industrialisation of our products to greater Banks, which would help us build reference in that key maturity, meeting the stipulations of a higher number market.