Business
Seylan Bank Upgrades Online Transaction Security for All Cards
Becomes one of the first banks to obtain EMV Three Domain Secure (3DS) protocol 2.0
Seylan Bank, the Bank with a Heart, announced the enhancement of its online transaction security protocol to EMV 3DS 2.0 for both Issuing and Acquiring stages, becoming one of the first banks in Sri Lanka to do so. This upgrade will ensure superior fraud prevention ability and a seamless customer check-out experience for Seylan customers on their Master and Visa card-based transactions.
At present, transactions increasingly take place through digital touchpoints, ranging from computers, smartphones, tabs and various Internet-of-things (IoT) devices such as Alexa and Google Home. While this transition makes payment activities faster and more convenient, opening up more opportunities for engagement, it also requires intense security processes for fraud detection, authentication and authorization of transactions.
With client security at the forefront of its core deliverables, Seylan Bank continuously ensures that processes and protocols are updated to best suit the evolving transaction behaviour of customers. As such, the Bank had already enabled all its Cards with the Three Domain Secure (3DS) protocol previously. This authenticates Cardholders when they perform card-not-present (CNP) transactions such as online payments on e-commerce websites using Credit and Debit cards. The upgrade to 3DS 2.0 will further secure the customers in their card transactions ensuring better customer experience resulting in fewer false declines and reduced stepped-up authentication.
Commenting on the latest upgrade, Ruchith Liyanage – Head of Cards of Seylan Bank stated, “We take pride in being one of the first leading banks to upgrade to 3DS 2.0, which validates our commitment to ensure customer safety, while providing convenient banking services. The biggest challenge banks face at present is to offer the right mix of technology and security that can detect fraudulent activity and minimize false declines. The combination of enhanced data exchange and risk-based authentication will reduce CNP fraud as well as make Seylan Cards a card that is easier to transact with. As a result, our customers will have to face no hesitation in using the card in any payment touchpoint.”
The new and improved version of 3DS adds several upgrades to the existing version. The secured data sharing between the bank and merchants helps to make better informed authentication and authorization decisions, which will increase authorization rates and reduce CNP fraud. The new version also expands the safety network to the mobile app and IoT devices. The mobile friendly protocol is an important feature as mobile commerce continues to grow rapidly. In addition, EMV 3DS requires more secure and user-friendly authenticators such as one-time passwords (OTPs) and can also utilise biometrics, instead of static passwords that are security threats. It also complies with the multifactor authentication for CNP transactions that is increasingly required in a number of countries across the globe, making Seylan Cards compliant in several regions in the world.
Seylan Bank, the Bank with a Heart, operates with a vision to offer the ultimate banking experience to its valued customers through cutting-edge technology, innovative products, and best-in-class services. The Bank has a growing clientele of SMEs, Retail and Corporate Customers, and has over 540 access points across the country. Seylan Bank has been endorsed as a financially stable organization with performance excellence across the board by Fitch Ratings, with the bank’s national long-term rating revised to ‘A’(lka).
By Sanath Nanayakkare
In a major boost to bilateral economic ties, the Chamber of Construction Industry of Sri Lanka (CCISL) and the Indo–Sri Lanka Chamber of Commerce & Industry (ISCCI) have signed a strategic Memorandum of Understanding (MoU) to deepen cooperation in real estate, infrastructure, and urban development.
The agreement establishes a formal framework for both institutions to drive collaborative initiatives, including business delegations, high-level conferences, workshops, B2B matchmaking sessions, and technical site visits. Designed to bridge businesses, government institutions, and project stakeholders across the Palk Strait, the partnership aims to unlock new avenues for cross-border joint ventures and technology transfers.
A focal point of this newly minted partnership is the facilitation of an upcoming trade delegation from the National Real Estate Development Council (NAREDCO) of India. Comprising major Indian players in the real estate and infrastructure sectors, the visiting delegation will engage in targeted business meetings, workshops, and inspection tours of prominent construction projects in Sri Lanka.
Under the terms of the MoU, CCISL will serve as the principal host coordinator in Sri Lanka. In close consultation with ISCCI, the apex construction body will curate itineraries, identify viable projects for engagement, and facilitate high-level dialogues with key government agencies, regulatory bodies, and industry leaders.
With both nations prioritizing sustainable urban growth, modern construction technologies, and infrastructure expansion, industry leaders view the partnership as a timely catalyst for economic rejuvenation. The collaboration is anticipated to accelerate market access, knowledge exchange, and foreign direct investment into Sri Lanka’s burgeoning property and development sectors.
To ensure the success of the upcoming NAREDCO delegation, CCISL has issued an urgent appeal to statutory authorities and relevant project owners to come forward with viable investment proposals. Stakeholders holding projects seeking foreign investment or technical partnerships are invited to submit comprehensive details to the Secretary General and CEO of CCISL via email at secyces@gmail.com.
Both chambers emphasize that translating this foundational agreement into tangible partnerships and robust capital flows will significantly strengthen bilateral connectivity between the construction and real estate sectors of India and Sri Lanka.
Hettich, the globally renowned German manufacturer of furniture fittings and architectural hardware known for its state-of-the-art manufacturing plants and magical interior solutions across the world celebrated a significant milestone in Sri Lanka, marking 10 years of presence in the country with its inaugural Partner Meet in Colombo.
The landmark event brought together Hettich’s key partners, stakeholders and industry leaders to celebrate a decade of growth, collaboration and shared success, while reaffirming the company’s long-term commitment to the Sri Lankan market.
Over the past decade, Hettich has strengthened its presence in Sri Lanka through its focus on German engineering, innovation, quality and functionality, contributing to the creation of contemporary and intelligently designed living and working spaces across the country.
The gala evening was graced by a distinguished delegation of senior leaders, including Dr. Andreas Hettich, Chairman, Hettich Group Advisory Board; S. K. Poddar, Chairman, Hettich India & Adventz Group; Mr. Akshay Poddar, Director, Hettich India; Andre Eckholt, Managing Director, Hettich India, SAARC, Middle East & Africa; Rahul Thakkar, Director – Sales, Hettich India & SAARC; and Dinusha Bhaskaran, Managing Director, Vallibel One PLC.
GS Evo Motors Limited, the authorized distributor of JMEV electric vehicles in Sri Lanka, has officially launched the JMEV EWIND, a next-generation compact electric SUV. The vehicle is designed to offer strong performance, intelligent technology, premium comfort, and high safety standards, marking another milestone in Sri Lanka’s growing electric mobility sector.
The EWIND features a sleek, aerodynamic exterior with penetrating LED daytime running lights, trapezoidal chain-inspired LED tail lamps, 19-inch alloy wheels, and a bold silhouette. Inside, it offers a spacious cabin with a panoramic moonroof and retractable curtain, an ultra-thin suspended instrument panel, a D-shaped multifunction steering wheel, multi-colour ambient lighting, premium finishes, and electrically adjustable front seats.
The SUV is available in single-motor front-wheel drive configurations, producing up to 108 kW and 210 Nm, with 0–100 km/h acceleration in 8.9 seconds.
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