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Intellect launches eMACH.ai open finance platform

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From left: Debal Dutt - Chief Marketing of Intellect Design Arena and Ramanan SV - CEO - India & South Asia of Intellect Design Arena

Says it will revolutionise the financial landscape of Sri Lanka

Intellect Design Arena Ltd, the World’s only Enterprise Grade Financial Technology Leader in Composable and Intelligent solutions for progressive Global Financial Institutions, announces the launch of eMACH.ai tailored specifically for the Sri Lankan financial landscape. With an impressive array of 329 microservices, 535 events and over 1757 APIs, this First Principles Thinking-based Platform enables financial institutions in the Island Nation to build future-ready solutions, providing them with a global competitive edge. The platform keeps a bank’s customer in focus, be it Retail, HNI, SME, or Corporate, and the events in their financial journey, besides taking care of events created by banking operations or generated by regulatory and compliance mandates.

Sri Lanka is at a pivotal point in its digital transformation journey. The launch of eMACH.ai in Sri Lanka comes at a time when fintech innovation is rapidly reshaping the financial services landscape globally. Key trends such as the rise of digital payments, AI-driven banking solutions, Open Banking frameworks, and cloud-based infrastructure are redefining how financial institutions operate across the world. Sri Lanka, too, is witnessing this shift, with a growing focus on digital transformation to improve financial inclusion, streamline operations, and create customer-centric experiences. By investing in cutting-edge technologies, enhancing digital infrastructure, and fostering a conducive regulatory framework, Sri Lankan banks can improve financial inclusion and operational efficiency and attract foreign investments.

eMACH.ai simplifies technology for Sri Lankan banks, empowering them to create solutions that are not just optimised but transformative. Its composable architecture aligns with the financial sector’s future needs, ensuring that banks can meet evolving customer expectations while remaining resilient in the face of rapid technological change. It enables them to develop strategies centered around customer needs, focusing on creating substantial business impacts rather than optimising technology.

Intellect already works with several prominent financial institutions in Sri Lanka, including HDFC Sri Lanka, Regional Development Bank (RDB), Cargills Bank, Commercial Development Bank (CDB), Central Finance, Seylan Bank, and Union Bank of Colombo. These institutions have been at the forefront of adopting digital transformation strategies to enhance their operational efficiency and customer experiences. With the introduction of eMACH.ai, Intellect is poised to strengthen its partnership with several other leading financial institutions in Sri Lanka, helping them deliver innovative financial services to a broader customer base.

With eMACH.ai, the banks and financial institutions in Sri Lanka can now have a global edge. The platform will,

Empower banks with 329 Microservices, 1757 APIs and 535 Events, enabling them to design future-ready technology solutions

Act as a Catalyst for Enterprise Connected Intelligence by signifying the shift with Intellect’s leadership guiding banks to stay ahead

Foster financial innovation and redefine the future of financial technology in the Sri Lankan market, giving the region its global edge

Discover new growth avenues by transforming enterprise with this composable and intelligent open finance platform, elevate experience with iTurmeric, a MACH composable platform and enhance operations with decision-grade intelligence platform, Purple Fabric

Ramanan SV, CEO-India & South Asia of Intellect Design Arena Ltd, expressed his excitement about launching eMACH.ai, stating, “With eMACH.ai, we are not just introducing a platform; we are unlocking the future of banking in Sri Lanka. We aim to empower financial institutions to lead with intelligence, agility, and innovation. Built on First Principles Thinking, eMACH.ai is engineered to transform the entire financial ecosystem—driving transparency, accelerating digital adoption, and fostering resilience. This platform is not only a game-changer for banks but also a catalyst for Sri Lanka’s journey towards becoming a financial powerhouse in the global arena.”



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Cost-effective clearance of goods across borders to determine worth of Customs Paperless Declaration

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Containers held up at the Port of Colombo

By Ifham Nizam

The introduction of the Customs Paperless Declaration from October 1 could mark an important step in Sri Lanka’s efforts to modernise trade, but its real value will depend on whether it reduces the time and cost of moving goods through the country’s borders, Customs House Agents & Traders Association President Mohamed Niyas said.

Niyas warned that digitising Customs declarations alone would not necessarily translate into faster cargo clearance or lower costs for businesses.

‘Expecting a dramatic improvement in clearance speed under the present conditions is like expecting Ferrari performance from a Morris Minor configuration, he said.

For importers and exporters, the issue extends well beyond paperwork. Every additional hour or day that cargo remains in the clearance chain can have wider consequences for businesses, including increased port and storage-related costs, additional working-capital requirements, uncertainty over delivery schedules and disruptions to production and distribution.

Niyas said the competitiveness of Sri Lanka’s trading sector ultimately depended on how efficiently goods could move through the country’s border-clearance system.

‘The real bottleneck is not merely the absence of paper. It is the entire clearance ecosystem—the limitations of the existing ASYCUDA World system, excessive regulatory interventions by Other

Government Agencies, multiple approvals, physical examinations, manual interventions, fragmented processes and institutional constraints, he said.

He cautioned that unless these bottlenecks were addressed, there was a risk that the paperless initiative would merely digitise existing bureaucracy.

‘If these underlying constraints remain unchanged, there is a real risk that the new paperless system could become another “copy-and-paste road show”—where an old, complex clearance process is simply transferred onto a digital screen without fundamentally changing the process itself, Niyas said.

For businesses dependent on imported raw materials, machinery, components and other inputs, clearance efficiency can directly affect the wider supply chain.

Delays at the border can create uncertainty for manufacturers, distributors and retailers, while exporters can face difficulties meeting delivery schedules when imported inputs or export consignments are held up.

Niyas therefore argued that the success of the October 1 initiative should be judged by its impact on trade flows rather than by the number of declarations processed electronically.

‘Paperless does not automatically mean faster, he said. ‘Digitising a slow process does not make the process fast. It only makes the slow process digital.’

He said Sri Lanka needed to move towards what he described as “process-less Customs”—a system in which unnecessary procedures are eliminated rather than simply converted into electronic procedures.

Among the reforms he called for are simplification of Customs declarations and approval workflows, improvements to the functionality of ASYCUDA World, greater use of risk-based inspections and better integration of Other Government Agency approvals.

Niyas also called for the elimination of repetitive document submissions and physical endorsements, greater use of pre-arrival processing, sufficient capacity for digital document uploads and clearly defined service-level timelines for Customs and OGAs.

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China backs Sri Lanka’s Non-aligned stance to counter regional pressures

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Chinese Ambassador Wei Huaxiang delivering the keynote address in Colombo

By Sanath Nanayakkare

As global attention has fixed on the high-level diplomatic choreography at the United Nations General Assembly in New York, a subtler, yet profound geopolitical signal was sent from Colombo, yesterday.

In a major address marking the founding anniversary of the People’s Republic of China, newly appointed Chinese Ambassador Wei Huaxiang chose to anchor bilateral relations not just in modern trade or infrastructure, but in a shared respect for Sri Lanka’s legacy of non-aligned independence.

By explicitly invoking Sri Lanka’s foundational role in the 1976 Non-Aligned Summit, Beijing was doing something unexpected in an era defined by fierce great-power rivalry: it was officially validating a small island nation’s right to maintain an independent foreign policy stance.

The Strategic Value of Independence

For decades, nations caught in the crosshairs of major-power competition have faced intense pressure to pick sides. Yet, Ambassador Wei’s embrace of Colombo’s non-aligned tradition signaled a different diplomatic playbook. Instead of demanding alignment, Beijing was framing its partnership as a reliable counterbalance to regional pressures. By honouring Sri Lanka’s diplomatic autonomy, China was effectively reassuring smaller economies that sovereign independence and robust economic cooperation can coexist.

Beyond Ports and Industrial Zones

This diplomatic framing reframed the narrative surrounding major collaborative ventures like the Colombo Port City and Hambantota Port. While foreign analysts often view these projects exclusively through the lens of strategic rivalry, Beijing’s diplomatic messaging tied them back to a historical ethos of solidarity—evoking memories of the 1952 Rubber-Rice Pact.

By marrying economic projects with a stated respect for non-alignment, China is positioning itself as a steadfast stakeholder that respects Sri Lanka’s internal agency during difficult economic and political seasons.

As both nations look toward major milestones in 2027—including the 70th anniversary of diplomatic ties—this nuanced diplomatic move revealed how historic traditions are being leveraged to navigate modern multipolar realities.

For global observers, the takeaway was clear: in the shifting architecture of Asian geopolitics, respecting a nation’s historical neutrality may just be the most effective way to secure a lasting partnership, a diplomatic masterclass that Ambassador Wei Huaxiang executed in style.

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Sri Lanka Insurance Life appoints Dr. Sameera Dharmasena Chief Executive Officer

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Dr. Sameera Dharmasena

Sri Lanka Insurance Life (SLIC Life), the nation’s largest and strongest Life Insurer, is pleased to announce the appointment of Dr. Sameera Dharmasena as its new Chief Executive Officer, effective 22nd September 2026.

Dr. Dharmasena is a distinguished insurance professional with over 21 years of experience in the Sri Lankan insurance industry, having held senior leadership positions across several leading insurance companies affiliated with some of Sri Lanka’s largest business conglomerates. His extensive career spans both local and multinational insurance environments, bringing together broad industry expertise, strategic leadership and a strong commitment to the advancement of the insurance profession.

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