Sampath IT partners with Cargills Bank, marking milestone in their banking history

Friday, 3 January 2025 00:00 - - {{hitsCtrl.values.hits}}

From left: Sampath IT Manager – Risk and Compliance Rashini Kulasekara, Assistant Manager – Public Relations Olindi Kiriella, Senior Manager – Software Solutions Gayani Randeniya, CEO Mangala Rodrigo, Cargills Bank Managing Director/CEO Senarath Bandara, CIO Indika Fernando, Assistant General Manager – Retail and SME Business Lasantha Mahendrarajah, Assistant General Manager – Legal Sajeewanie Solangaarachchi, Manager – IT Chulanga Wellawa

Cargills Bank has partnered with Sampath Information Technology Solutions (SITS) to introduce gold loans and pawning services for the first time in its history. This collaboration, powered by SITS’s flagship product, Prime, marks a significant milestone in enhancing financial accessibility and driving business growth through innovative technology.

Gold loans, a trusted financial solution in Sri Lanka, offer quick liquidity for individuals and businesses alike. With Prime, Cargills Bank now provides customers with a fully digitised, process – from onboarding and risk assessment to loan disbursal—that is fast, secure, and entirely paperless. This integration ensures customer experience minimal waiting times and greater transparency, fostering trust at every step.

Cargills Bank’s decision to partner with SITS was driven by SITS’s wealth of experience in FinTech and its solutions tailored to meet business requirements. Few of the standout factors was SITS wealth of knowledge, experience professionals, island wide support around the clock with seamless operations. The use of an agile framework enabled SITS to deploy Prime with exceeding expectation, accelerating time-to-market, and delivering a solution that justified the return on investment.

The flexible architecture of Prime supports various gold loan models, making it adaptable to Cargills Bank’s unique needs. Equipped with advanced risk assessment tools, the platform empowers data-driven lending decisions, promoting safe and sustainable practices.

Cargills Bank Managing Director Senarath Bandara remarked:

“This partnership is a key milestone for Cargills Bank as we enter the gold loan segment for the first time. By leveraging SITS’s technology and FinTech expertise, we can now offer customers a fast, secure, and seamless experience, reinforcing our mission to expand financial access across the country.

Cargills Bank Chief Information Officer Indika Fernando added:

“The implementation of Prime has transformed our operations. SITS’s rapid deployment and support services have enabled us to deliver a solution tailored to our customers’ needs. This partnership highlights how technology can revolutionise traditional banking processes.”

Sampath – Information Technology Solutions CEO Mangala Rodrigo shared:

“Our collaboration with Cargills Bank demonstrates how technology can redefine financial services. With Prime, we’ve developed a system that prioritises trust, transparency, and ease of access. This partnership is a significant step towards making financial services more accessible and efficient.”

This collaboration reflects a shared vision between SITS and Cargills Bank: leveraging technology to enhance financial accessibility and drive growth. Together, they are setting a new benchmark for innovation in Sri Lanka’s banking sector, blending technological expertise with customer-centric solutions.