LankaPay Technnovation Awards 2023 recognises payment technology innovators

Overall winners 

Chief Guest Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe -Pix by Ruwan Walpola

Keynote speaker DBS Bank Singapore former Chief Innovation Officer Neal Cross

LankaPay GM/CEO Channa de Silva

LankaPay, the operator of the country’s national payment network recently organised LankaPay Technnovation Awards 2023 at the Shangri-La Hotel, Colombo for the fifth consecutive year. 

This is Sri Lanka’s first and only Payment Technology Innovation Awards. Initiated with the objective of recognising the trailblazers of the country’s payment technology innovations, who steadfast to the cause of providing excellence and convenience by promoting digital payments, the event was witnessed by over 400 guests from banks, non-banking financial institutions, fintechs, policymakers and top government officials, etc. The awards ceremony was held under the patronage of Central Bank of Sri Lanka Governor Dr. Nandalal Weerasinghe, as the Chief Guest. The keynote speaker was Neal Cross who is the former Managing Director and Chief Innovation Officer of DBS Bank, Singapore popularly known as the World’s Best Digital Bank. He is also a serial startup entrepreneur where he is the Co-Founder of PictureWealth and Non-Executive Director – Peppermint Innovation.

Commercial Bank of Ceylon PLC bagged the pinnacle of all awards by winning the Overall Gold Award for “Excellence in Interbank Digital Payments” under the “Banking Institutions” category while Bank of Ceylon claiming the Overall Silver Award. Sampath Bank PLC was adjured the Overall Bronze Award Winner while People’s Bank bagged the Overall Merit Award. Under the “Non-Bank Financial Institutions” category, LOLC Finance PLC was crowned as the Overall Gold for “Excellence in Interbank Digital Payments” for the fourth consecutive year while Dialog Finance PLC making its way to become the Overall Silver Award winner for the first time. 

Altogether 35 awards under 11 categories were on offer at this year’s awards and the Gold Award winners were: 

Bank of the Year for Excellence in Customer Convenience – Category A: Hatton National Bank PLC; Category B: Cargills Bank Ltd.; Category C: National Savings Bank 

Non-Bank Financial Institution of the Year for Customer Convenience – LOLC Finance PLC

Best Common ATM Acquirer of the Year – Category A: People’s Bank; Category B: Sampath Bank PLC; Category C: Amana Bank PLC

Bank of the Year for Financial Inclusivity – Category A: Bank of Ceylon; Category B: Nations Trust Bank PLC; Category C: Cargills Bank Ltd. Non-Bank Financial Institution of the Year for Financial Inclusivity – LOLC Finance PLC

Most Innovative Bank of the Year – Commercial Bank of Ceylon PLC

Most Popular Digital Payment Product: Banking & Financial Institutions category (Internet Banking) – People’s Bank (Product: People’s Wave)

Most Popular Digital Payment Product: Banking & Financial Institutions category (Mobile Payment Apps) – Bank of Ceylon (Product: Smart Pay)

Most Popular Digital Payment Product: Fintech category – Bhasha Lanka Ltd. (Helapay) 

Best Bank for Retail Payments – Commercial Bank of Ceylon PLC

Best Mobile Application for Retail Payments via JustPay (Banks and Non-Bank Financial Institutions) – LOLC Finance PLC (iPay) 

Best Mobile Application for Retail Payments via JustPay (FinTech) – Pay Master Solutions Ltd. (Pay Master)

Best Mobile Application for Retail Payments via LankaQR (Banks and Non-Bank Financial Institutions) – Commercial Bank of Ceylon (Com Bank Q+) 

Best Acquirer on LankaPay Online Payment Platform – Bank of Ceylon

Best LankaPay Card Implementer of the Year – Regional Development Bank

Financial Institution of the Year for Best Digital Payment Strategy – Sampath Bank PLC

During the year 2021/22 alone, LankaPay empowered Sri Lankans from all walks of life across Sri Lanka to carry out a multitude of digital financial transactions amounting to a staggering Rs. 18 trillion via over 200 million number of transactions conveniently and securely from anywhere at any time. This would not have been possible if not for the banks, non-banking financial institutions and FinTechs who made customer convenience their priority. LankaPay Technnovation Awards 2023 was a tribute to those who were leading the pack in customer convenience via payment technology innovations.