Altria–Huawei partnership to accelerate data driven digitalization in Sri Lanka’s financial sector

Colombo: Sri Lanka’s financial services sector is entering a critical phase of transformation as banks, finance companies and insurers face growing pressure to modernise data infrastructure, strengthen governance and respond more rapidly to evolving market demands.

Against this backdrop, Altria Consulting and Huawei Technologies Lanka have entered into a strategic partnership aimed at supporting the next phase of data-driven transformation across the country’s financial industry.

The collaboration combines Altria’s domain expertise in enterprise data analytics, data warehousing and financial-sector implementations with Huawei’s global capabilities in cloud infrastructure, data platforms and digital ecosystems. Together, they will help financial institutions to  build secure, scalable and modern data environments that enhance decision-making, risk management and regulatory reporting.

“This partnership represents a significant step in enabling Sri Lankan financial institutions to unlock the full value of their data while remaining aligned with evolving regulatory expectations. Our focus is on delivering practical, scalable data platforms that address real operational and strategic challenges faced by the sector” said Chamikara Perera, Director - Sales of Altria Consulting.

At its core, the alliance will focus on enabling unified data architectures, integrating information currently spread across multiple legacy and modern systems. By reducing data silos and improving accessibility, institutions will be better positioned to generate timely insights, improve reporting accuracy and strengthen enterprise wide governance.

Huawei Technologies Lanka brings a mature ecosystem of cloud and data technologies, along with international best practices. Its local presence and infrastructure will help institutions to balance performance, security, data residency and compliance requirements within Sri Lanka’s regulatory environment.

Hao Zhiqiang, Vise President - Enterprise Business at Huawei Sri Lanka, said the collaboration reflects Huawei’s continued commitment to supporting Sri Lanka’s banking and financial sector through digital transformation initiatives.

According to Hao Zhiqiang, Huawei combines innovative technologies with global industry expertise to help financial institutions build secure, resilient and future ready digital platforms. He added that the company works closely with banks and ecosystem partners to deliver solutions that support operational efficiency, innovation and regulatory compliance.

Zhiqiang noted that, as of February 2025, Huawei had served more than 5,600 financial sector customers across over 80 countries and regions, including 53 of the world’s top 100 banks adding that the company has also established strategic partnerships with more than 80 major banks, insurance firms and securities companies worldwide as part of its global digital transformation efforts.

The Central Bank of Sri Lanka’s continued emphasis on risk governance, data accuracy and institutional resilience has further underscored the need for reliable, well-governed and accessible data. Industry stakeholders note that the ability to derive actionable insights from operational, transactional and customer data is becoming a key differentiator in the sector. The

Altria–Huawei collaboration is expected to deliver tangible impact across several priority areas, including real-time transaction monitoring, credit risk analytics, regulatory reporting and customer intelligence. These capabilities are increasingly seen as essential for institutions seeking to enhance operational efficiency and remain competitive.

The partnership also aims to support the sector’s gradual adoption of advanced analytics and artificial intelligence. As financial institutions explore predictive analytics, automation and AI-driven insights, the quality and governance of underlying data will play a critical role in ensuring successful outcomes.

Without strong data foundations, industry experts warn that AI initiatives may introduce operational and compliance risks rather than delivering meaningful business values. The joint approach by Altria and Huawei is therefore positioned to prioritise structured, governed and scalable data environments as a prerequisite for innovation.

As competition intensifies from fintech players, regional financial institutions and digitally driven customer expectations, data capability is increasingly shifting from a back-office function to a core strategic asset.

For Sri Lanka’s financial sector, the ability to manage, govern and act on data effectively will play a defining role in shaping the next phase of industry growth. The partnership between Altria Consulting and Huawei Technologies Lanka signals a step forward in that direction, with a focus on building resilient, compliant and insight driven financial institutions.