Ceylinco Life upgrades to latest 3i Infotech Kastle Treasury solution

3i Infotech, a global provider of IT solutions and one of India’s largest software product companies, on Tuesday announced that Ceylinco Life, Sri Lanka’s largest and most successful life insurer, has decided to upgrade to the latest version of 3i Infotech’s Kastle Treasury solution.

Kastle Treasury is an integrated treasury management solution, covering several key areas such as foreign exchange, money and equity and their related derivative instruments. Initially Ceylinco Life had implemented an earlier version of the Kastle Treasury in 2003.

Taking into account the product features, proven service quality provided over a decade and the advantages offered by 3i Infotech, Ceylinco Life has decided to upgrade its product to the latest version of Kastle Treasury in order to meet the demands of their Investment Department to manage the financial assets in various funds.

The modular architecture of Kastle Treasury was meticulously configured to meet Ceylinco’s requirements to swiftly support its Treasury operations. One of the significant features of the product is its inherent compliance with the Sri Lankan regulatory requirements, which facilitates Ceylinco’s go-to-market strategy, giving it a competitive edge.

3i Infotech South Asia Region Head V. Narayan said: “At 3i Infotech it is our constant endeavour to provide our customers with the latest and advanced technologies to enable them deliver services to their end-customers faster, better and in a more cost effective way. We are pleased that Ceylinco Life has once again selected 3i Infotech and have implemented the latest version of our Kastle Treasury solution.”

He added: “This engagement further demonstrates our strength and reinforces 3i Infotech’s commitment to the banking and financial services industry segment in Sri Lanka.”

Ceylinco Life Managing Director and CEO Rajkumar Renganathan said: “We have been using Kastle Treasury solution since 2003 and are confident that 3i Infotech will continue to support us in delivering the best to our customers. By leveraging the additional features of the upgraded solution, we are expecting to deliver more efficiently to our customers.”

This upgrade will enable Ceylinco Life to take advantage of the product features like ABS/MBS, multi-currency bonds, floaters and inverse-floaters, IFRS recommendations for portfolio categorization like AFS/HFT/HTM, Straight Line and EIR accretion/amortisation methods, simulators using analytical tools, multi-currency accounting, highest level of security standards, comprehensive audit features, archival/purging for optimised performance, Oracle 11g compliance and others.

3i Infotech provides software products and IT services the banking, financial services and insurance, manufacturing, retail and distribution and Government verticals.

The company’s quality certifications include ISO 9001:2008 for BPO, ISO/IEC 27001:2005 for Data Centre Operations and ISO/IEC 20000-1:2005 for Data Centre Management Services. The Company has embarked on re-appraisal under SEI CMMI ML 5 for some of its software development centres in India.

By using its domain knowledge and through continuous investment in technologies,

3i Infotech enables corporations transform their businesses through its expertise in enterprise-class software solutions, software services including testing services, information security consulting, system integration services, IT infrastructure and disaster recovery solutions.