LankaPay Technnovation Awards 2022 to honour ‘Digital Superheroes’

Lanka Clear Chairman Kenneth De Zilwa

Lanka Clear General Manager/CEO Channa De Silva

The fourth edition of LankaPay Technnovation Awards - Sri Lanka’s pioneering and the only payment technology innovation awards will come to a grand finale with a gala event scheduled to be held on 29 March at Shangri-la Colombo under the patronage of Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka. Organized by LankaClear, the operator of the country’s national payment network, LankaPay Technnovation Awards aims to recognize the flagbearers of payment technology innovations in the country who have steadfast to the cause of promoting digital payments thereby enhancing customer convenience.

The outbreak of Covid-19 global pandemic nearly brought not only the entire country, but also the whole world to a standstill. Since the declaration of banking services as an essential service in the country, those who were in the financial sector worked tirelessly alongside workers in other essential services to ensure that local businesses and society could function seamlessly. Due to their silent contribution, the businesses and public were able to perform their day-to-day financial transactions from wherever they were, safely and conveniently.

With an appropriate theme ‘Honouring the Digital Superheroes’, LankaPay Technnovation Awards 2022 intends to recognize the silent contributions made by banks, NBFIs and FinTech companies for their immense hard work to support the national economy and deliver payment technology innovations during these challenging times.

Within a very short span of time, LankaPay Technnovation Awards has become one of the most looked forward to events amongst the country’s financial sector fraternities. Complying with the government health guidelines, this year’s LankaPay Technnovation Awards will limit the number of physical attendees and for the first time the entire event will be live streamed allowing anyone who wishes to experience the gala event to be part of it.

The Platinum Sponsor of the event is Microsoft while the Gold Sponsor is BPC Banking Technologies. JCB, who has been partnering this event as a sponsor since its inception; and NETS, Singapore are onboard as Silver Sponsors. Daily Mirror, Daily FT, Sunday Times, Daily Mirror Online, FM Derana and TV Derana are the media sponsors.

Initiated in 2017 in a quest to drive financial inclusivity in the country, which is a key objective of the Central Bank of Sri Lanka, this initiative intends to enhance the efficiency of the country’s national payment network. Award criteria for 2022 considers interbank transactions during the period from 1 April 2020 to 31 March 2021. Banks, non-banking financial institutions and FinTech service providers who have steadfast to this cause and exceled in this endeavour will be vying for recognition under 12 award categories.

 The categories include Overall Winner for Excellence in Interbank Digital Payments (Banking Category) - 2021, Overall Winner for Excellence in Interbank Digital Payments (Non-Banking Financial Institutions Category) - 2021, Excellence in Customer Convenience - 2021, Best Common ATM Enabler of the Year - 2021, Financial Institution of the Year for Financial Inclusivity - 2021, Most Innovative Bank of the Year - 2021, Most Popular Digital Payment Product - 2021, Best Bank for Retail Payments - 2021, Best Mobile Application for Retail Payments - 2021, Best Acquirer on LankaPay Online Payment Platform - 2021, Best Digital Payment Strategy and Best LankaPay Card Implementor of the Year – 2021.

The initial shortlisting has been carried out based on the performance of individual banks, non-banking financial institutions and FinTech service providers against a set criterion defined and communicated at the beginning of the period, subjected to an independent audit. At the second phase of judging, the shortlisted winners had to present their success stories before an independent, eminent Panel of Judges as to how they have achieved that performance. The Chairman of the Panel of Judges of LankaPay Technnovation Awards 2022 is the ICTA Chairman and SL CERT Board Member Oshada Senanayake.

The other members of the panel of judges are Management Systems Ltd. Chairman and CIMA and CA Sri Lanka Past President Asite Talwatte FCA, FCMA, MBA (SriJ), Design Corp Group of Companies Chairperson/Founder Dr. (Hon DCL) Linda Speldewinde, Institute of Chartered Accountants of Sri Lanka Past President and B. R. De Silva & Co. Partner Lasantha Wickremasinghe, Colombo Stock Exchange Chief Executive Officer Rajeeva Bandaranaike, Ernst & Young Sri Lanka & Maldives Country Managing Partner and Institute of Chartered Accountants of Sri Lanka Past President Manil Jayesinghe (FCA, FCMA, CPFA). The independent panel of judges would make the final determination of the winners.