EFutures provides remittance solutions to NSB

The e-Remittance Solution is one of the products offered by EFutures, the premier web and software development company.

Thousands of people currently work and live in a country that is not their home, and send funds regularly back to their families in their country. With Sri Lanka specialising in providing skilled services in foreign countries, most of the foreign exchange to Sri Lanka is received through remittances to banks.

The e-Remittance solution developed by EFutures facilitates inward remittance, through effective and efficient online services that allows the foreign correspondent banks to remit the funds into the domestic bank.

National Savings Bank, a premier Licensed Specialised Bank in Sri Lanka owned by the Government of Sri Lanka has deployed the e-Remittance solution to manage their inward remittances.  NSB has won the trust of people and come a long way to lead the country’s rupee savings market and is the only local bank to receive AAA Fitch Ratings for 8 consecutive years. The NSB has 16.3 million Sri Lankans banking with it.

The e-Remittance solution has also been implemented in another leading commercial bank in Sri Lanka. EFutures is in the process of discussing with two other leading banks to provide the e-Remittance solution.

The solution developed using the latest in technology includes key features  such as tracking remittances, high security, multiple foreign currency support, high user friendliness, periodic accounts statement generation and tracking all user operations. The e-Remittance solution is currently being used by two premier banks in Sri Lanka.

Director Prashan Nagendra noted that one of the key benefits of using the e-Remittance solution is that the banks will be saving funds which otherwise will have to be paid as commission to other parties over extensive periods of time.

The company is not only limited in providing the e-Remittance solution but has extensive expertise in providing online banking solutions and CRM solutions for the finance sector. EFutures have been able to win contracts from several Wall Street firms in the US to provide support services.

“The premier Sri Lankan web and software solutions provider EFutures has continued to build strong relationships with Sri Lanka’s premier banks to provide e-Remittance solutions,” said Director Rishen Fernando.

EFutures handles offshore software projects and boasts of one of the most impressive portfolios in the local software industry. The company has expanded operations with obtaining outsourced projects from leading local and international companies.

EFutures, has become the corporate choice in outsourcing both web and software development. The company places emphasis on customer satisfaction, and as such development is based on customer specifications for a software product. EFutures’ product development best practices provide enterprise clients with a singular advantage: the ability to build scalable and extendable technology solutions faster and with a much higher degree of precision.

Fernando noted that the company offers unparalleled experience and expertise in providing software and web solutions to a wide variety of clientele. He identified the highly flexible approach, large and experienced team, faster response time and the experience as the sources of their success.

“The company is in the process of obtaining CMMI Level 3 Certification with the objective of acquiring larger development projects,” Nagendra added.

He also noted that CMMI is a process improvement approach that provides organisations with the essential elements of effective processes that ultimately improve performance.  EFutures’ successes with the projects it has engaged in, have garnered it respect from clients. This respect has led to it being able to sustain the systematic lengthening of its client portfolio. The company has been able to build an impressive client list and maintain rigorous standards of quality control and maintenance of products.