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Ibm outlines cloud and ai-led digital transformation strategy for SL

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IBM outlined a comprehensive strategy for Sri Lanka driven by Hybrid Cloud, and Artificial Intelligence (AI), underpinned by Cybersecurity at a virtual round-table meeting. As organisations are beginning to reset, recover and revive their business to emerge smarter from the pandemic, IBM will focus on helping them adapt to the new normal by infusing AI into their workflows, shifting to hybrid cloud, strengthening cybersecurity and automating IT processes.

As part of this strategy, IBM announced the extension of its global partnership with PMsquare, a Platinum IBM business partner in Sri Lanka. PMsquare will collaborate with IBM on Data & Business Analytics solutions to co-create and co-innovate with, and for clients in the market. IBM has been a key partner in the technology driven development of Sri Lanka’s business & industry for over 58 years.

Sandip Patel, Managing Director, IBM India/South Asia said, “Sri Lanka has managed to successfully navigate one of the most difficult crises in recent human history and turn around its biggest challenges. The move to Digital has accelerated in the new normal and IBM is leading the way in helping our clients build resilience through a technology driven business transformation. With a strong channel ecosystem, a robust hybrid cloud capability and deep cybersecurity expertise, we are poised to take the lead in helping Sri Lankan enterprises emerge smarter in their digital transformation journey.”

IBM works with several partners in Sri Lanka, helping clients leverage technology in their digital transformation journey. IBM’s strong ecosystem strategy in Sri Lanka enables it to reach out to companies across different sectors, regardless of their size and revenue models.

“IBM nurtures an ecosystem of global business partners that operate in more than 170 countries. Sri Lanka’s partner ecosystem plays an important role in IBMs business strategy as we build deep engagements with our partners to co-create and co-innovate for our customers. Post pandemic, businesses will turn to solutions like Watson AIOps and Cloud Paks to future proof their business. As a global partner, PMsquare’s entry into the Sri Lankan market will make these technologies more accessible and easier to implement for customers,” stated Riza Wadood, Country General Manager, IBM Sri Lanka

Reinforcing IBM’s ecosystem commitment, IBM recently announced a new PartnerWorld programme that provides clear pathways for business partners to create applications, develop code, integrate their intellectual property (IP) or deliver services with the IBM Cloud. This includes helping clients with their hybrid multicloud strategies, which is not limited to just solutions but also services to deliver them successfully.

PMsquare, a leading data analytics consultancy combining international reach with experience across Asia. PMsquare has been an IBM business partner for over 13 years. The company has offices across APAC with representative offices in Europe and North America. It has delivered over 300 performance management and Business Intelligence implementations across the globe. PMsquare Sri Lanka office is located in Colombo.

“PMsquare Sri Lanka already has a customer base of large companies whose combined revenue figures are close to USD 88bn –the annual GDP of Sri Lanka.” said Jason Rankin CA, Regional Director Asia and Group CFO, PMsquare. “After developing the team in Sri Lanka, PMsquare has partnered with IBM to promote IBM Business Analytics solutions to Sri Lankan businesses. IBM is well known for its technology capabilities and now with PMsquare, clients can focus on improving their collaborative planning by using AI powered solutions such as IBM Planning Analytics© and IBM Decision Optimization©.”

PMsquare provides AI-powered IBM Business Analytics solutions that can help companies tackle complex tasks like production optimization, scheduling, routing, demand management and improve their strategy planning with forecasting and advanced predictive capabilities. Many companies have strong ERP tools, but when it comes to strategic planning most still use single user applications that do not have features to support actual planning functions such as stress testing, scenario planning, sensitivity analysis, what-if analysis, simulations, discovering trends/correlations, etc. PMsquare will leverage solutions like IBM Planning Analytics©to streamline, automate and enhance the capabilities of current tools and provide a collaborative planning platform for multiple departments to work together.



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Union Assurance expands Bancassurance footprint with Pan Asia Bank partnership

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The Chief Executive Officer of Union Assurance, Jude Gomes says the strategic partnership will pave the way for mutually beneficial and sustainable business growth

Sri Lanka’s No.1 Bancassurance provider, Union Assurance PLC, joined hands with The Truly Sri Lankan Bank, Pan Asia Bank, to expand the scope and reach of Bancassurance in the country. Pan Asia Bank has consistently introduced ground-breaking customer solutions to Sri Lankan consumers. This strategic alliance will offer an array of best-in-class insurance solutions comprising savings, protection, and investment coupled with comprehensive financial solutions. This partnership was officially signed by the Chief Executive Officer of Union Assurance, Jude Gomes, and the Managing Director/Chief Executive Officer of Pan Asia Banking Corporation, Nimal Tillekeratne, on June 21st, 2022 at the Bank’s head office in Colombo.

The Chief Executive Officer of Union Assurance, Jude Gomes, hailed the partnership as a milestone that will expand the Bancassurance footprint in Sri Lanka. He said it will enable them to offer a new-age insurance experience to customers of Pan Asia Bank. “We are delighted to partner with Pan Asia Bank. This strategic partnership will pave the way for mutually beneficial and sustainable business growth,” he emphasized.According to Jude Gomes, Bancassurance is a growing field that offers an unmatched customer-centric experience. “I’m confident that Bancassurance, with its emphasis on service excellence, innovation, and digital leadership, will help narrow the protection gap and empower the Sri Lankan dream,” he stated.

The Managing Director/Chief Executive Officer of Pan Asia Banking Corporation, Nimal Tillekeratne, commenting on the strategic partnership, said: “We are pleased to partner with Union Assurance and this alliance will facilitate solutions that offer long-term protection and empower the Bank’s customers. Ensuring a secure future is important in these uncertain times, and as a bank with 27 years of expertise in providing financial solutions for Sri Lankans, we believe it enhances our innovative and customer-focused value proposition further,” he added.

This collaboration offers customers of Pan Asia Bank easy access to a range of innovative insurance solutions while fulfilling their banking needs. Pan Asia Bank, one of the fastest-going commercial banks in the country, is known for its innovative banking products and services. The Bank continues to report solid key profitability indicators which rank among the highest in the industry. Going from strength to strength, the nation’s Truly Sri Lankan Bank’, Pan Asia Bank is continuously recognized by many local and global entities for its performance and sustainability.

Adding further, the Chief Bancassurance Officer of Union Assurance, Vindya Cooray, said it was a privilege to be partnering with Pan Asia Bank. She described the alliance as an important step in their Bancassurance strategy to stay ahead in the field and provide value to customers. “Our expertise in Sri Lankan bancassurance landscape, coupled with our digital capabilities will enable us to provide a comprehensive solution where customers could fulfill their financial as well as protection needs under one roof,” she stressed.

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BOI launches online visa recommendation accelerating its digital transformation

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Aimed at enhancing the Ease of Doing Business and accelerating digital transformation, the Board of Investment (BOI), announced on Friday the completion of the integration of the visa recommendation system in coordination with the Department of Immigration and Emigration and the Ministry of Defence to provide online visa recommendation for potential investors visiting Sri Lanka and all the enterprises that fall under the purview of the BOI.The BOI has already completed the online system up to the point where investors/enterprises could submit the visa application online and obtain the approved application from the BOI. For this, the investors were required to make three physical visits to the BOI head office. However, with the integration with the Department of Immigration, there is no need for the investors to visit the BOI at all.

Under the newly launched system, visa recommendations will be granted under three visa categories namely, entry visas, residence visas, and when extending visas. In addition, the applicants, who will be eligible to apply for this, are the investor, employees, and dependents of the investor, and selected employees.

One of the major benefits enjoyed by investors/enterprises out of the novel system, is the elimination of investors’ physical presence at the BOI saving their time. Investors can also monitor the online portal and review the status of the process. Upon the completion of the process, the applicants will be notified via an SMS and email alert. Then, the applicants can take the passport and relevant documents to the Immigration Department where they will be issued the visa. Furthermore, this system will also safeguard against misuse in submission of information, down to the strict assessment.

Speaking at the occasion, BOI Director General Renuka M Weerakone, stated “the implementation of the online visa recommendation system is yet another milestone in the journey of digitizing the entire investor experience to ensure seamless delivery of services to investors,”

“Here, let me make a special mention about the officials of the Department of Immigration, the Ministry of Defence and our IT team for their competence and corporation in making the entire process a success,” she said.

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Seylan enables easy payment plans for solar energy in partnership with Hayleys Solar

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In its bid to ensure that customers always receive convenient products and services that will enable and better their lives, Seylan Bank entered a partnership with Hayleys Solar to provide Seylan Credit Card holders with Easy Payment Plans (EPP) to purchase solar units. With the current energy crisis across the country, and the resulting escalating electricity costs, switching to solar power has become the most sustainable option. However, the high initial cost of installing the panels has limited people from using this alternative. With Seylan Bank’s partnership with Hayleys Solar, the option of transferring to solar energy becomes accessible and affordable to the public.

The easy payment plan for Seylan cards offers 0% installment options from 3 months through 6, 12 and 24 months for a minimum transaction of LKR 10,000 and a maximum of LKR 1 million. Customers are able to convert to the easy payment plan within 7 working days through calling the hotline on 0112008888.Speaking of the partnership Ruchith Liyanage, Head of Cards at Seylan Bank said, “Seylan Cards, as the ‘essential card for essential needs’, has always looked at supporting the essential financial requirements of our customers.”

The partnership between Seylan Bank and Hayleys Solar, the renewable energy arm of Fentons Ltd., which are both leaders in their respective industries, ensures the validity of the venture. Hayleys Solar is primarily focused on renewables and energy storage systems. With over a decade of market excellence, the company has successfully completed over 75MW of solar installations island wide making it the undisputed leader in Engineering, Procurement, and Construction (EPC) in Sri Lanka. Energynet, a solution provided by Hayleys Solar offers a wide range of off-grid, hybrid, and battery backup systems.

Hasith Prematillake, Managing Director of Fentons Ltd. says, “As challenging circumstances continue to prevail, it is imperative that we find ways to collaborate to foster practical, alternate renewable energy solutions.”

Roshane Perera, Director/Chief Executive Officer of Hayleys Solar, said, “We strive to develop solutions capable of meeting the nation’s evolving energy requirements. Energynet is one of those ideal solutions for the present power cuts and non-availability of fuel, as it allows the consumers to power up key appliances required to continue their daily lives in a convenient manner.”

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