Scienter Technologies partners Mercantile Investments to implement eFinancials

Scienter Technologies Managing Director Rajiva Witharana (left) and Mercantile Investments COO/Director Non-Board Dhanushka Fonseka exchange the contract. Others (from left): Mercantile Investments AGM Finance Chandana Nanayakkara, MillenniumIT ESP Associate Lead, Business Architecture Uthpala Gunawardana, Scienter Technologies Senior Vice President, Head of Sales and Marketing Dinushi Suriyaarachchi, Senior Vice President Head of Banking and Finance Services Dhanushka Kollure, and Chief Technology Officer Dinith Galappatthi, Mercantile Investments CFO/Director Non-Board Deva Anthony MillenniumIT ESP Senior Director, Business Architecture Sanka Jayasundara and Mercantile Investments AGM Information Technology Prasad Indika

Scienter Technologies Ltd. has welcomed on board Mercantile Investments and Finance PLC (MI) as its newest patron. 

The technology firm recently entered into a Memorandum of Understanding with Mercantile Investments in implementing the full suite of its dynamic, core financial platform – eFinancials. Implemented by over 25 financial service providers, including non-banking financial institutions and banks, the solution has gathered an unmatched reputation both here and overseas, making it one of the most successful, integrated financial platforms in the market.

Designed as a comprehensive software solution, eFinancials is the ideal core technology platform that integrates all main functions and processes related to financial services and transactions. The eFinancials suite of modules and solutions offers the latest features and functionalities for the origination and management of varying loan schemes, savings and fixed deposits, leasing and mobile banking (eWallet), along with the ability to integrate modules for back-end operations such as collections and recoveries, general ledger, treasury and financial management. 

The possibilities of the solution are wide-ranging, as it incorporates a flexible and configurable back-end architecture, which gives Scienter the versatility to adapt the platform to the requirements of the financial service provider. Moreover, it can be configured to suit the service levels of various departments and personnel.

Scienter Technologies Managing Director Rajiva Witharana said: “It is an absolute pleasure to tie up with Mercantile Investments due to its leading position within the financial services sector. Now, in the implementation process, we have adapted the e-Financials platform to seamlessly integrate MI’s core functions into a single operational platform; this was done while keeping in mind their operational and process requirements. eFinancials provides an extensive range of modules, catering to numerous needs, apart from the most basic functions. Our team is constantly finding new avenues in expanding the suite of capabilities and has succeeded in creating separate modules to manage mobile banking functionalities and exposures to money laundering activities. These are just a few examples of its full capacity, which are absolute requirements to accountable and growth-oriented financial service providers.”

Mercantile Investments COO/Director Non-Board Dhanushka Fonseka said that the level of service delivered to a client is a critical factor for any organisation to succeed; and that the partnership with Scienter and the eFinancials platform will unquestionably enable MI to fill potential gaps and deliver a unique experience to all stakeholders. 

CFO/Director Non-Board Deva Anthony said: “We have seen Scienter Technologies evolving and making a mark in technology solutions, especially for the finance industry. Mercantile Investments is happy to tie up with Scienter to acquire their tailored IT system solutions to enhance the company’s long-term IT strategy towards future business competitive advantage.” 

AGM Information Technology Prasad Indika said the company is confident in the system’s advanced features and therein its ability to accommodate user needs while trusting that Scienter’s experienced and capable staff will enable Mercantile Investment to fulfil their technology needs, to a large extent.

MillenniumIT ESP is overseeing the project management aspect of the implementation, with their team providing an end-to-end management approach. The teams of all three parties will work cohesively to make the turnaround time for implementation as effective and efficient as possible.