Latest news with #PanAsiaBank
Yahoo
22-05-2025
- Business
- Yahoo
IBM powers technology upgrade for Sri Lanka's Pan Asia Bank
Pan Asia Banking Corporation of Sri Lanka has partnered with IBM to upgrade its digital infrastructure. This collaboration comes as banks in the region adapt to the demands of customers who seek customised experiences, transparency, and security in real-time. To facilitate continuous growth and round-the-clock banking services, Pan Asia Bank has implemented a modernised technology framework that includes advanced servers, AI-driven application monitoring, and scalable data storage solutions. These enhancements are designed to improve cloud readiness and offer real-time insights into application performance, thereby minimising downtime and enhancing customer satisfaction, stated the tech vendor. Pan Asia Bank chief information officer Kanchana Devasurendra said: 'With their proven track record of helping banking institutions around the world digitally transform, it was a natural choice for us to adopt these solutions from IBM. 'We believe that this transformation will help us strengthen our customer relationships through better service delivery and accelerate our innovation capability.' In conjunction with South Asian Technologies (SAT), IBM implemented a suite of AI and hybrid cloud solutions, which feature IBM Power10 servers, IBM FlashSystem storage, and IBM Instana for comprehensive application performance monitoring. According to IBM, the integration of these technologies has yielded improvements for the bank, including a 40% increase in application performance and a 50% reduction in the time required to launch new services. Additionally, the upgrades have resulted in enhanced uptime and decreased operational expenses, the tech provider added. IBM India & South Asia managing director Sandip Patel said: 'Sri Lanka presents tremendous opportunities for digital transformation, and we're proud to collaborate with forward-thinking institutions like Pan Asia Bank in harnessing the power of AI and hybrid cloud.' Last month, BNP Paribas extended its partnership with IBM Cloud for another ten years to enhance its cloud-native strategy and advance generative artificial intelligence (GenAI) capabilities. "IBM powers technology upgrade for Sri Lanka's Pan Asia Bank" was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Finextra
21-05-2025
- Business
- Finextra
Pan Asia bank recruits IBM for digital bank infrastructure upgrade
IBM announces its collaboration with Pan Asia Banking Corporation PLC of Sri Lanka to modernize the bank's digital infrastructure and deliver faster, more secure banking services across Sri Lanka. 0 This content is provided by an external author without editing by Finextra. It expresses the views and opinions of the author. Banks in Sri Lanka are undergoing major transformations to meet the needs of new and existing customers seeking personalized product experiences, transparency, and security, all in real time. To support future growth and 24/7 banking operations, Pan Asia Bank upgraded its technology infrastructure with advanced servers, AI-powered observability for application monitoring and scalable data storage. These helped the bank enhance cloud readiness and provide real-time visibility into application performance— reducing downtime and improving customer experience. Working with its business partner South Asian Technologies (SAT), IBM deployed the latest AI and hybrid cloud solutions including IBM Power10 servers, IBM FlashSystem storage and IBM Instana for real-time, full-stack observability for application performance monitoring. The transformation has already delivered strong results: 40% boost in application performance 50% faster deployment of new services Improved uptime and lowered operational costs With this modernization, Pan Asia Bank is better positioned to meet the evolving needs of Sri Lankan customers and drive digital innovation in the banking sector. 'As part of our commitment to deliver impactful, innovative, and responsible banking solutions to our customers and stakeholders, refreshing our technology systems that power our services was critical,' said Kanchana Devasurendra, Chief Information Officer, Pan Asia Bank. 'With their proven track record of helping banking institutions around the world digitally transform, it was a natural choice for us to adopt these solutions from IBM. We believe that this transformation will help us strengthen our customer relationships through better service delivery and accelerate our innovation capability.' Speaking on the collaboration, Sandip Patel, Managing Director, IBM India & South Asia said, 'Sri Lanka presents tremendous opportunities for digital transformation, and we're proud to collaborate with forward-thinking institutions like Pan Asia Bank in harnessing the power of AI and hybrid cloud. By combining the right system, software, and services with the local expertise of our ecosystem partners, we're helping Sri Lankan enterprises tackle complex challenges, unlock new possibilities, and drive measurable business outcomes — ultimately contributing to country's broader economic growth.' Recognizing the unique needs of the Sri Lankan market, IBM continues to foster strategic collaborations and co-create tailored solutions that help local businesses drive efficiency, boost productivity, and achieve sustainable growth across industries.
