The Bank of Ceylon UK, newly granted an independent banking license this year, has chosen to install Misys BankFusion Universal Banking software to support its growth plans and intention to target overseas Sri Lankans for remittances, accounts and other services.
The bank, recently spun off from the state-owned Bank of Ceylon as a standalone international unit, was already using Misys’ old Bankmaster core banking solution, inherited from its parent, so expects a seamless upgrade to the new software platform as it goes it alone.
As part of its wider growth plans, Bank of Ceylon UK is also licensing Misys TI Plus for trade finance processing, Message Manager software for payments and messaging, and the Misys Personal Finance Portal for its consumer customers. All the modules will be integrated into the universal platform. Being more responsive to customers is a key imperative for the bank. “We decided to invest in the latest solution from Misys at this exciting time of growth for us,” says Cyril Madadeniya, Chief Executive of Bank of Ceylon UK.
“We can now expand our business and ensure we provide better service to our clients, delivering new products to the market more quickly. The new technology will allow us to deliver to our customers the services that they require [such as remittances], and we shall be able to expand our position as the bank of choice for Sri Lankan nationals and businesses in the UK and Europe. Furthermore, BankFusion will also allow us to progress with the planning of a larger overseas network in future years.”