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Establishing ‘Fintech Association of Sri Lanka’ was initiated at the ‘Fintech Meetup’ of the ‘Asia-Pacific Executives Forum’ which was held at Hilton Colombo in 2018; where the Central Bank of Sri Lanka Assistant Governor also participated and delivered a speech on regulatory role of Central Bank on Fintech. [10] [11]
Information Technology in Sri Lanka refers to business process outsourcing, knowledge process outsourcing, software development, IT Services, and IT education in Sri Lanka. [1] Sri Lanka is always ranked among the top 50 outsourcing destinations by AT Kearney, and Colombo and ranked among "Top 20 Emerging Cities" by Global Services Magazine. [2]
The Sri Lankan banking industry was changed during the late 1980s with the introduction of automation by private banking corporations. [10] Previously, few foreign banks were operating within Sri Lanka with few branches such as Hongkong and Shanghai Banking Corporation, etc. HSBC was using interactive electronic customer interfaces such as automated teller machines (ATMs).
The General Direction No 01 of 2018 as per the Monetary Board of the Central Bank of Sri Lanka under section 44 of the Payment and Settlement Systems Act No 28 of 2005 came into immediate effect as of 25 July 2018 implies to the operations of the Common Electronic Fund Transfer Switch, Lanka Clear (Pvt) Ltd and members of CEFTS. [8]
The bank implemented and applied the Social and Environmental Risk Assessment System in Sri Lanka to screen lending projects which would pose zero harm to the environment. In 2015, the bank launched a new paperless green banking facility which further demonstrated the bank's focus on prioritizing the green technology and sustainable development .
Since its opening in 1986, Sampath Bank is the first bank in Sri Lanka to operate using a fully computerized database. Sampath Bank was the first to introduce the use ofATMs, MasterCard, Personal Banking Unit Facilities, Uni Banking System & Debit Cards (Initially with Cirrus and Maestro and Visa) to Sri Lanka. After its massive re-engineering ...
Live trading at the American Stock Exchange commenced in 2006, even as the company received a US patent on its Business Innovation Dynamically (BID) technology. At home in Sri Lanka, MillenniumIT commenced implementation of a countrywide intranet for the national fixed-line telecoms provider, SLT, while US operations expanded with a new office ...
The Sri Lanka Interbank Payment System, commonly known as SLIPS, is a LKR-only online interbank payment and fund transfer system in Sri Lanka. [1] [2]SLIPS is owned by LankaClear, an organization owned by the Central Bank of Sri Lanka and all Licensed Commercial Banks operating in Sri Lanka, with 47.19% of shares held by the CBSL and State owned commercial banks, and 52.81% by other private banks.