New tech project for Finastra in Sri Lanka

New tech project for Finastra in Sri Lanka

Sri Lanka’s Seylan Bank is modernising its trade finance technology with Finastra’s Fusionbanking Trade Innovation system.

On the way out is the legacy China Systems’ Eximbills platform, Banking Technology understands.

In addition to a new back office system, Seylan Bank will get a new front-end digital banking solution for its corporate clients, built on the Fusionbanking Corporate Channels platform.

Seylan Bank is already a long-standing user of Finastra’s core banking offering, Fusionbanking Equation (and its predecessor, Equation).

Kapila Ariyaratne, the bank’s CEO, describes the Sri Lankan banking market as “relatively contained” but “highly competitive, crowded and constantly evolving”.

“Distinguishing ourselves in corporate banking is a way to stay ahead,” Ariyaratne says. The implementation of Finastra’s software “will enable us to go further than our previous system could ever allow”, he comments.