Sampath Bank PLC has been recognised for its use of Artificial Intelligence (AI) and Machine Learning (ML), receiving a Special Appreciation Award for AI/ML Implementation in Banking at the ICC Emerging Asia Banking Conclave & Awards 2026 in New Delhi, India.

The bank was the only Sri Lankan financial institution to receive the recognition at the regional awards organised by the Indian Chamber of Commerce (ICC).

The awards recognise financial institutions across the BIMSTEC region for excellence and innovation, with the AI/ML category focusing on the effective use of emerging technologies to improve performance, operational efficiency and long-term value.

The awards were assessed by an independent panel of former banking and regulatory leaders, with PwC India serving as process reviewer.

Sampath Bank Chief Business Intelligence Officer Darshin Pathinayake said the award reflected the bank’s commitment to using data, analytics, AI and ML to improve customer engagement, operational efficiency, risk management and decision-making.

Pathinayake and Principal Data Scientist Kiruparan Balachandran represented the bank at the event.

Pathinayake also participated in a panel discussion on trust, technology and transformation, which covered digital transformation, cyber resilience, regulatory developments and collaboration among banks, fintech companies and technology partners.

The bank said AI and ML were increasingly being used to understand customer needs, streamline processes and develop more relevant financial solutions.

Commercial Bank of Ceylon has partnered with Payable (Pvt) Ltd and Mastercard to introduce ‘Soundbox’, an audio-enabled digital payment device aimed at micro, small and medium-sized businesses.

The bank said the solution was designed to help small merchants, many of whom continue to depend largely on cash, adopt digital payments through an affordable and simple payment acceptance mechanism.

Soundbox enables merchants to accept contactless card payments and QR-based transactions across major card networks and QR schemes. It provides an audio confirmation for each successful transaction, allowing merchants to verify payments instantly without interrupting their work. QR transactions are also credited immediately, the bank said.

Commercial Bank Managing Director and CEO Sanath Manatunge said the solution would help remove barriers faced by small merchants by combining affordability, instant onboarding, real-time transaction visibility and multiple payment options in a single device.

Payable Co-Founder and CEO Yohan Wijesiriwardane said the initiative aimed to ensure that small businesses had access to the same digital payment facilities as larger retailers.

Mastercard Country Manager for Sri Lanka Mahesha Amarasuriya said the initiative would support financial inclusion and help Sri Lanka move towards a cash-lite economy.

The bank said Soundbox would also reduce the need for multiple payment terminals while improving transaction transparency, cash management and customer convenience.

Dialog Axiata PLC and the Institution of Engineers, Sri Lanka (IESL) have launched a national startup challenge aimed at helping aspiring entrepreneurs turn innovative ideas into commercially viable businesses.

The IESL National Startup Challenge, launched through the IESL Entrepreneurship Forum at the Dialog Auditorium on October 5, is open to engineering undergraduates, engineering practitioners and non-engineers.

Participants can submit ideas under 12 innovation categories covering national priorities, emerging technologies, market trends and inclusive innovation.

The programme will take participants through idea development, pitching, incubation, prototyping, validation, minimum viable product development and business scaling, with support from industry experts, mentors and ecosystem partners.

The competition will culminate in the selection of the Top 10 teams, with the winner receiving Rs. 1 million. Dialog, the title sponsor, will provide technical expertise, mentors and digital resources to help teams develop and scale their ventures. Each of the Top 10 teams will also receive a Dialog Digital Startup Support Package valued at Rs. 250,000.

IESL Entrepreneurship Forum Chairperson Eng. Jasmine Nanayakkara said the initiative sought to promote an “Engineer to Entrepreneur” transformation and create new ventures, employment opportunities and economic value.