Intellect Design Arena, a digital financial technology product solutions provider for the banking and Insurance sector, announced today that Khan Bank, the largest commercial bank in Mongolia, has selected Intellect's debt management platform to centralize operations and digitalize its collections process.

Intellect's Digital Debt Management system will allow Khan Bank to manage its collections and recoveries more effectively and efficiently. With 537 branches across Mongolia, Khan Bank is one of the largest commercial banks In Mongolia and provides banking services to an estimated 70% of Mongolian families.

Centralization of Khan Bank's operations with Intellect's system will help the bank manage its collections and recoveries, automate those processes, and monitor them across the bank's branches, as well as allow the bank's staff to focus on more business-centric work.

Intellect Digital Debt Management helps banks manage complex debt scenarios with appropriate collection strategies. The solution is designed around six essential elements: Segmentation, Allocation, Work Prioritization, Incentives, Follow up and Escalation. It covers both collections and recovery with customer-centric follow up, versatile configurability, and the quick Implementation of strategies.

Shares of the company gained Rs 1.45, or 1.25%, to trade at Rs 117.90. The total volume of shares traded was 97,344 at the BSE (10.41 a.m., Tuesday).