Shares of Intellect Design Arena were trading higher on Tuesday, December 16, after the company announced that one of its units has partnered with 35 credit unions across Canada, a development that was viewed positively by the market.
The company said the partnership spans eight Canadian provinces and will impact more than 3.73 lakh members, with the participating credit unions collectively managing around $13 billion in assets. The deal includes direct partnerships with Bulkley Valley Credit Union, Kindred Credit Union and Rosenort Credit Union, along with an aggregator partnership with League Data.
Under the agreement, Intellect Design Arena’s eMACH.ai Digital Engagement Platform will be deployed to strengthen digital banking capabilities for the credit unions. The platform will support key functions such as digital onboarding, account services, payments and member service operations.
According to the company, the platform is expected to help accelerate member onboarding, improve digital self-service, enhance operational efficiency and enable faster product innovation for participating institutions.
Investors reacted positively to the announcement, pushing Intellect Design Arena shares higher during Tuesday’s session, as the partnership adds to the company’s growing international footprint in the digital banking and financial technology space.
