Intellect Design Arena has unveiled its latest innovation, the eMACH.ai Islamic Banking platform, designed to offer comprehensive, AAOIFI-compliant banking solutions. Built on a cloud-native, microservices-based architecture, this platform aims to help banks scale while adhering to evolving Shariah regulations.
The eMACH.ai Islamic Banking platform addresses the limitations of existing Islamic banking solutions, which often rely on outdated systems and superficial Shariah ‘bolt-ons’. The new platform is built on the eMACH.ai foundation, incorporating ‘Shariah by design’ principles to provide a robust suite of tools for the banking ecosystem. Key components include a Core Transaction Engine with configurable accounts like Wadiah, Mudarabah, and Wakala, facilitating rapid market entry and real-time ledger management.
The platform also features Islamic Pool Management, using AI for forecasting, profit management, and zakat management, and supports the full lifecycle of Islamic financing instruments such as Murabaha and Ijarah. Additionally, it offers end-to-end Islamic Trade Finance and a fully automated Islamic Treasury.
Key features of the eMACH.ai Islamic Banking platform include modular flexibility, allowing banks to deploy a full Islamic core or select specific modules. Its headless architecture ensures seamless integration with digital banking platforms and third-party FinTechs, supporting 24/7 real-time processing. AI-powered tools enhance efficiency in origination, financing, analytics, and profit distribution.
Rajesh Saxena, CEO of Intellect Consumer Banking, highlighted the platform’s potential to transform Islamic finance by overcoming the limitations of rigid architectures. He emphasised the ease of setup and extensibility, noting that the platform ensures seamless integration with existing systems within 6-9 months, addressing the challenges of Shariah compliance.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).