SDB ready for quantum leap

SANASA Development Bank PLC (SDB) is currently undergoing a transformation process to become a fully fledged development bank from the current status of a Microfinance and MSME Bank. SDB has partnered with IFC (private sector arm of the World Bank) who provides their expertise for the bank to build on past successes and stay competitive within the banking industry which is undergoing massive transformation.

This transformation process, coined ‘Quantum Leap’ will establish new customer value propositions for Cooperative, Retail and SME segments. This project will also involve execution of a branch optimisation project with a focus upon transforming the sales productivity of the network and establishing a lean operations environment. 

“The proposed transformation, when completed, we will be doing new things and doing the things we do, differently,” says GM/CEO Nimal Hapuarachchi. “During this process SDB will go through a well-designed activity plan to develop a Strategy and a Business Model consisting of streamlined SME, Retail and Cooperative segments. Further, branches will be evolved as sales focused customer points creating centralised operations and credit underwriting processes. It is a new growth journey for SDB,” says the GM/CEO. “This will create job enrichment, new career opportunities and growth for every one of our staff with existing times ahead.”

IFC expertise will assist in streamlining Risk Management capacities of SDB to support further business growth by enhancing assessment methodologies including modern risk tools and techniques. At the end, bank’s organisation will stand realigned to its strategic priorities with enhanced overall organisational productivity. 

A high level of automation will enhance the productivity by providing the technology yet to be enjoyed by the existing customer segment of the bank. 

Finally, the bank will stay customer focused with changes envisaged by creating new business segments, enhanced product and services, improved productivity and leveraging cutting edge technology.