People’s Bank launches first phase of ground-breaking digitalisation drive

People’s Bank recently partnered with IBM and Sri Lanka Telecom (SLT) to launch the first phase of its digitalisation drive. This partnership and the introduction of this cutting-edge technology will enable People’s Bank to deliver a new level of service to its customers, whilst revolutionising the banking sector. 

People’s Bank selected the most advanced IBM enabled technology, to implement the digitalisation process, due to its scalability and capacity for future expansion. This technology is the first-of-its kind to be introduced to the Sri Lankan market and will give People’s Bank an unprecedented advantage in the banking sector. 

SLT, the national telecom service provider who has powered Sri Lanka’s emergence as a technologically advanced nation will provide People’s Bank with the technical support required for the digitalisation process. The synergies of these three partners will power the bank’s entire digitalisation drive to offer its customers a new level of banking service experience. 

Commenting on the bank’s latest technological advancements, People’s Bank Chairman Hemasiri Fernando stated: “People’s Bank has remained committed to our ethos of being the “pulse of the people”. We have constantly innovated and improved our products and services to serve the people of Sri Lanka better. Pushing boundaries and driving innovation have always been an integral part of our operation. This historic digitalisation drive that we have embarked on, once again reiterates our commitment to offering the best banking services to our customers and stakeholders. This process will offer unparalleled competitiveness not only to the bank but also to our customers, many of whom are aspiring entrepreneurs and SMEs who rely on our support and guidance. There is no doubt that most products and services are moving towards digital platforms and we are proud to have People’s Bank leading the way.” 

Commenting on the bank’s digitalisation, SLT Chief Enterprise and Wholesales Officer Kiththi Perera stated: “Today, we are proud to become the official telecom partner of People’s Bank, as it launches the first phase of its ambitious digitalisation drive. Our engineering team will focus on providing the best support to help People’s Bank deliver a seamless digital experience to its customers.” 

Commenting on the need for People’s Bank to implement new technology to adapt to rapidly changing banking trends and customer needs, People’s Bank Head of IT Sandalal Edirisinghe stated: “Today, many people have access to the best and the latest global technology and more consumers are using smart phones. One of the key trends we’ve identified is that many people are now using mobile devices for financial solutions. It is imperative that People’s Bank, which serves one of the largest customer bases in Sri Lanka’s banking industry, becomes truly digitalised in alignment with the latest consumer and market trends, as this will enable us to empower our valued customers and to satisfy their growing banking needs. Many transactions are now happening online and People’s Bank is dedicated to leading the way in the digitalisation of Sri Lanka’s banking sector.” 

Highlighting the significance of the digitalisation process, People’s Bank CEO/General Manager N. Vasantha Kumar stated: “The transformation of the new system will enable our entire network to be efficient, and its effect will be felt by our customers, employees and other stakeholders. This will not only enhance our brand equity but will also have an effect on our banking network, partners and eventually on the profile of financial services offered in Sri Lanka. I would like to thank our competent project management team including our partners, namely, IBM and SLT, for understanding our requirements and then fulfilling them and exceeding our expectations.” 

People’s Bank Chief Manager IT Sugandika Perera said: “Over the last few years, People’s Bank has hosted its core banking applications on IBM power servers. Having managed the IBM systems, we have identified its capacities to cater for our business operations over the years, so we are confident in our decision to migrate to the next level of technology. The IBM power systems will enable us to meet the latest challenges and demands of the banking sector. This is the bank’s first major hardware upgrade project for the year and has laid the foundation for us to fulfil the total banking needs of our customers and become the leader in local digital banking arena.”

Since its inception 54 years ago, People’s Bank has opened its doors to customers across the country, from all walks of life, providing them with banking services that meet their unique needs and uplift their lives. The bank has been a long-standing institution that has always remained close to the country’s people and understood their pulse and needs.

People’s Bank currently serves over 16 million customer account relationships, through 737 branches and is also connected to a network of over 2500 ATMs which are linked through the Lanka Pay gateway. People’s Bank is dedicated to serving the nation by providing a comprehensive range of banking solutions and financial services to citizens of all walks of life, from across the entire island.