BOC and University of Peradeniya forge strategic partnership to advance innovation and knowledge exchange

Thursday, 17 July 2025 00:02 - - {{hitsCtrl.values.hits}}

The Bank of Ceylon (BOC), Sri Lanka’s leading state-owned bank, has signed a landmark Memorandum of Understanding (MoU) with the University of Peradeniya, marking a significant step in bridging the gap between academia and the banking sector. The agreement, signed on 5 June, at the university premises, aims to foster innovation, technology transfer, and collaborative knowledge sharing between the two institutions. This forward-thinking partnership is anchored on four key pillars: co-development of innovative banking technologies, joint academic and research programs, structured internship opportunities for undergraduates, and continuous consultation and knowledge exchange initiatives.

Representing the University of Peradeniya at the MoU signing were Vice Chancellor Professor Terence Madhujith; Dean of the Faculty of Science Professor R. G. S. C. Rajapakse; Dean of the Faculty of Management Professor R. H. Kuruppuge; Dean of the Faculty of Engineering Professor B. G. L. T. Samaranayake; the University’s Technology Transfer Office Director Professor Roshan D. Yapa; Head of the Department of Operations Management Dr. S. Maheshwaran, and Acting Registrar K. A. B. Damunupola.

The Bank of Ceylon delegation was led by Deputy General Manager (Product and Banking Development) Y. A Jayathilaka accompanied by Assistant General Manager (Central Province) D. Ekanayaka, Chief Manager – Product Development and Innovations Thushani Ariyarathna and Manager – Innovation Lab Thilanka Pathirana, along with other officials from the bank’s Central Province office.

Under the newly signed MoU, BOC and the University of Peradeniya will collaborate on developing next-generation banking solutions by leveraging the university’s advanced research capabilities and the bank’s industry expertise. The partnership will enable joint development projects, either proposed by the university or initiated at the bank’s request, to strengthen the BOC’s digital infrastructure and service offerings. Additional initiatives under the agreement include technology transfer, joint consultancy, research and development, commercialization efforts, and co-organized conferences and workshops.

Furthermore, the MoU will create valuable hands-on learning opportunities for undergraduates at the University of Peradeniya through internships at BOC, in accordance with the bank’s internship recruitment framework. This collaboration exemplifies BOC’s commitment to nurturing innovation and talent while empowering the next generation of professionals. It also reflects the University of Peradeniya’s role as a catalyst for national development through academic excellence and industry partnerships.

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