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SCIENTER Technologies’ eFinancials to Seamlessly Integrate Operations of Mercantile Investments

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SCIENTER Technologies (Pvt) Ltd. welcomes on board Mercantile Investments and Finance PLC (MI) as its newest patron. The technology firm recently entered into a Memorandum of Understanding with Mercantile Investments in implementing the full suite of its dynamic, core financial platform – eFinancials. Implemented by over 25 financial service providers, including non-banking financial institutions and banks, the solution has gathered an unmatched reputation both here and overseas, making it one of the most successful, integrated financial platforms in the market.

Designed as a comprehensive software solution, eFinancials is the ideal core technology platform that integrates all main functions and processes related to financial services and transactions. The eFinancials suite of modules and solutions offers the latest features and functionalities for the origination and management of varying loan schemes, savings and fixed deposits, leasing and mobile banking (eWallet), along with the ability to integrate modules for back-end operations such as collections and recoveries, general ledger, treasury and financial management.

The possibilities of the solution are wide-ranging, as it incorporates a flexible and configurable back-end architecture, which gives SCIENTER the versatility to adapt the platform to the requirements of the financial service provider. Moreover, it can be configured to suit the service levels of various departments and personnel.

Commenting on the new partnership, Managing Director of SCIENTER Technologies, Rajiva Witharana notes that ‘It is an absolute pleasure to tie up with Mercantile Investments due to its leading position within the financial services sector. Now, in the implementation process, we have adapted the e-Financials platform to seamlessly integrate MI’s core functions into a single operational platform; this was done while keeping in mind their operational and process requirements. eFinancials provides an extensive range of modules, catering to numerous needs, apart from the most basic functions. Our team is constantly finding new avenues in expanding the suite of capabilities and has succeeded in creating separate modules to manage mobile banking functionalities and exposures to money laundering activities. These are just a few examples of its full capacity, which are absolute requirements to accountable and growth-oriented financial service providers.”

Commenting on the partnership, the COO/Director Non-Board of Mercantile Investments, Mr. Dhanushka Fonseka, stated that the level of service delivered to a client is a critical factor for any organisation to succeed; and that the partnership with SCIENTER and the eFinancials platform will unquestionably enable MI to fill potential gaps and deliver a unique experience to all stakeholders.

Remarking on the industry position of SCIENTER, Mr. Deva Anthony – CFO/Director Non-Board of Mercantile Investments added, “We have seen SCIENTER Technologies evolving and making a mark in technology solutions, especially for the Finance Industry. Mercantile Investments is happy to tie up with SCIENTER to acquire their tailored IT system solutions to enhance the company’s long-term IT strategy towards future business competitive advantage.” Moreover, according to Mr. Prasad Indika, AGM Information Technology at MI, the company is confident in the system’s advanced features and therein its ability to accommodate user needs while trusting that SCIENTER’s experienced and capable staff will enable Mercantile Investment to fulfil their technology needs, to a large extent.

MillenniumIT ESP is overseeing the project management aspect of the implementation, with their team providing an end-to-end management approach. The teams of all three parties will work cohesively to make the turnaround time for implementation as effective and efficient as possible.

SCIENTER Technologies (Private) Ltd. is one of Sri Lanka’s prominent tech solutions providers in enterprise applications and business software solutions – with a journey of over 26 years in the industry. SCIENTER’s portfolio complements the operational requisites of diverse business segments including the financial sector and the hospitality industry (hotels and restaurants), in addition to membership clubs and other commercial segments. Its flagship solution, eFinancials, offers an extensive range of key modules that complement multiple areas such as leasing, loans, recovery, fixed deposits, savings, treasury and internet banking alongside novel and advanced functions such as CRIB management, mobile banking (eWallet), anti-money laundering, audit application, recovery app, recovery call centre, and lead management.

(Photo caption) – Heading the contract signing was Mr. Rajiva Witharana – Managing Director, SCIENTER Technologies (Private) Ltd (centre left) and Mr. Dhanushka Fonseka – COO/Director Non-Board (Mercantile Investments) (centre right).

Pictured from left to centre – Mr. Chandana Nanayakkara – AGM Finance (Mercantile Investments), Mr. Uthpala Gunawardana – Associate Lead, Business Architecture ( MillenniumIT ESP), Ms. Dinushi Suriyaarachchi – Senior Vice President, Head of Sales and Marketing, SCIENTER Technologies (Private) Ltd, Mr. Dhanushka Kollure – Senior Vice President Head of Banking and Finance Services, SCIENTER Technologies (Private) Ltd and Mr. Dinith Galappatthi – Chief Technology Officer, SCIENTER Technologies (Private) Ltd.

Pictured from right to centre – Mr. Prasad Indika – AGM Information Technology (Mercantile Investments), Mr. Sanka Jayasundara – Senior Director, Business Architecture (MillenniumIT ESP) and Mr. Deva Anthony – CFO/Director Non-Board (Mercantile Investments).



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OKLO adds new feature to Ceylon Tea SmartAuction platform

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OKLO Private Limited, a leading Sri Lankan solutions provider for the Ceylon Tea e-Auction platform, recently added an all-new segment for factories in its SmartAuction platform. This new feature provides over 650 factories with the chance to value and grade teas within the system, printing final catalogues, real-time and post-sales reports, and viewing their tea variants being auctioned live. For the first time, a live auction participation option has been instigated for all stakeholders and factories in the country’s 150 years of auctioning history. The availability of this platform would now allow the tea-producing community to benefit from newly added or enhanced functionalities similar to other stakeholders.

With tea being the most significant commodity to be auctioned in Sri Lanka, it is also one of the most significant contributors to the local economy. As Ceylon Tea has already garnered a worldwide name, the branding has enabled Sri Lanka to be placed on the map as an influential tea-producing entity. At the same time, this functionality can also be utilised by other organisations that market commodities such as rubber, spices and coconut. Being present via an e-Auction paves the way for more competition among buyers and sellers.

Regarding the inclusion of their new feature, OKLO Private Limited, Managing Director – Thilanka Withanage stated, “Since the Colombo Tea e-Auction went live on the OKLO SmartAuction platform, the team has been releasing advanced features and functionalities to all stakeholders. With the release of the latest version, all Sri Lankan tea factories can now have complete access to the platform, similar to all other stakeholders. Our objective is to maintain consistency in the face of tech innovation and uplift our nation’s ascent in the digital realm. We will continue utilising our nation’s talents and build cutting-edge, practical, impactful products that will set innovative strides.”

Sri Lanka Tea Factory Owners Association, Vice Chairman – Pasindu Pieris shared his views on the newly enhanced platform. He said, “This state-of-the-art solution from OKLO provided to the tea sector amalgamates all aspects related to dispatching tea from the factory to the point where it is sold at the auction through competitive bidding. Now, we can see our tea variants being sold at the auction right from our factory premises. The platform offers transparency and traceability while improving efficiency throughout the supply chain.”

OKLO is a Sri Lankan Technology Solutions Provider with current solution offerings in the Travel and Trading sectors. It was founded in 2011 and has been expanded to become one of the key players in the Travel IT sector, catering to some of the largest blue-chip companies such as Walkers Tours, Cinnamon Hotels, Jetwing Travels etc.For more information, email info@okloworld.com, call +94777320383, or visit www.okloworld.com.

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CSE trading marked by ‘a degree of sluggishness’; main indices decline

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By Hiran H.Senewiratne

CSE trading activities reflected a degree of sluggishness yesterday as most stock market investors are adopting a wait- and- see approach due to ongoing IMF discussions on bailing out the Sri Lankan economy, coupled with issues that surfaced in the coal purchase agreement between the Browns Group and a Chinese company relating to coal power generation, stock analysts said.

Amid those developments both indices moved downwards. The All- Share Price Index went down by 31.8 points and the S and P SL20 declined by 19.1 points. Turnover stood at Rs 3 billion with two crossings. Those crossings were reported in JKH, which crossed 150,000 shares to the tune of Rs 21.5 million with its shares trading at Rs 143 and CIC Holdings 241,000 shares crossed for Rs 20.5 million; its shares traded at Rs 85.

In the retail market top six companies that mainly contributed to the turnover were; Lanka IOC Rs 394 million (1.4 million shares traded), Expolanka Holdings Rs 237 million (one million shares traded), Richard Pieris Rs 146 million (4.4 million shares traded), ACL Cables Rs 138 million (1.3 million shares traded), JKH Rs 129 million (910,000 shares traded) and First Capital Holdings Rs 112 million (7.2 million shares traded). During the day 150 million share volumes changed hands in 30000 transactions.It is said that high net worth and institutional investor participation was noted in Expolanka Holdings, Sunshine Holdings and Lankem Developments.

Mixed interest was observed in Lanka IOC, ACL Cables and Royal Ceramics, while retail interest was noted in Browns Investments. The Capital Goods sector was the top contributor to the market turnover (due to ACL Cables and Royal Ceramics), while the sector index gained 1.23 per cent. The share price of ACL Cables moved up by Rs. 6 (5.69 per cent) to close at Rs. 111.50. The share price of Royal Ceramics recorded a gain of Rs. 1.70 (4.10 per cent) to close at Rs. 43.20.

The Food, Beverage and Tobacco sector was the second highest contributor to market turnover (due to Lankem Developments), while the sector index increased by 1.07 per cent. The share price of Lankem Developments appreciated by Rs. 1.50 (4.12 per cent) to close at Rs. 37.90.

Expolanka Holdings and Lanka IOC were also included among the top turnover contributors. The share price of Expolanka Holdings decreased by Rs. 2.25 (0.99 per cent) to close at Rs. 224.25. The share price of Lanka IOC closed flat at Rs. 290.50.Yesterday the Central Bank- announced US dollar buying rate was Rs 359.18 and selling rate Rs 369.93.

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Airtel Lanka records 1.7mn customers switch to Freedom Packs

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One year after the launch of Airtel Lanka’s industry-disrupting prepaid packs ‘Freedom’, the company announced a staggering 1.7 million users have switched to Airtel Freedom, as at the end of August 2022.

“We serve around three million customers in Sri Lanka, aided mainly by this unprecedented adoption of our Freedom packs. The overwhelming customer endorsement reaffirms our strategy of bringing simplicity and value through our products.” notes Airtel Lanka Managing Director/CEO Ashish Chandra.

Powered by Airtel’s world-class 5G-ready mobile broadband network, the telco has reimagined the overall offering and experience for customers, with a strong focus on ensuring value for money, and an advanced network experience. These factors undoubtedly resonate with most users, who are either data-heavy or call-heavy users.

Airtel Lanka’s initial innovation in facilitating unlimited, affordable access to the internet through Freedom Packs continued to evolve, with the telco introducing new world-class features to both its prepaid Freedom Packs and postpaid Freedom Plans

Airtel also disrupted the local telco market with the entrance of the Freedom Unlimited Rs.749 package, which is aimed at prepaid users. For a very affordable cost, users can now make unlimited calls to any network, with unlimited access to favourite social media platforms such as Facebook, Messenger, WhatsApp, and stream superior quality videos on YouTube for 30 days in addition to receiving additional 30GB anytime date.

Airtel was also the first telco to introduce unlimited calls for any network for a postpaid customer through Unlimited 1098. Priced at Rs. 1,098, an Airtel user has access to unlimited calls to any network, 40GB anytime data and SMS facilities. Additionally, Airtel is also the only telco to offer data rollover service for postpaid customers, allowing up to 200GB to be carried onto the next month’s billing cycle, saving data and expenses for the end-consumer.

Airtel Lanka has been part of implementing many industry-firsts in Sri Lanka’s telco space, and was also the first to introduce unlimited calls in Sri Lanka, on calls made to the same network. With the launch of Airtel Freedom, the company offers its users the ultimate convenience for all their voice, SMS and data needs, offering even greater savings compared to the competition. With the introduction of Unlimited, Airtel Lanka undoubtedly serves as a clear trendsetter for the country’s telecommunications industry.

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