Triumph at Digital Trust Awards reiterates CDB’s pioneering tech pathways

• CDB wins the ‘Technology Resilient Company of the Year’ Award in the Financial Sector

Sri Lanka’s fourth largest NBFI, Citizens Development Business Finance PLC (CDB), reiterated its presence as a pioneering fintech with a triumphant win at the Digital Trust Awards 2024 as the ‘Technology Resilient Company of the Year’ in the Financial Sector.

The awards ceremony, which was organised by the Information Systems Audit and Control Association (ISACA) Sri Lanka, evidences CDB’s proven quest to foster digital trust through a robust foundation in technology resilience. It recognises CDB’s excellence in infrastructure, effective cybersecurity, and comprehensive recovery initiatives that will safeguard and ensure continuity of operations in the event of disruption. 

The award illustrates a commitment to innovation, adaptability, and proactive risk management in navigating the evolving landscape of technology. CDB being an ISO 27001 certified company for six consecutive years is a testament to this award. The award augments the company’s excellence in technology resilience and its mission to transform the digital innovation landscape in the financial services industry in Sri Lanka. 

The win highlights CDB’s focus on optimising in the areas of governance and risk management, collaboration and innovation, empowering a culture of inclusivity, investing in infrastructure, and business continuity.

CDB Chief Information Security Officer Shavindra Fernando said: “This Digital Trust Award exemplifies CDB’s excellence in technology resilience and in ensuring a secure and resilient technological environment. Given that our business is built on customer confidence, digital trust is a vital component in financial transactions as it demonstrates strong cybersecurity measures and underscores our compliance with governance, risk and privacy regulations.”

Over its 29-year journey, CDB has striven to transform the digital innovation landscape in the financial services industry in Sri Lanka. CDB’s Technological Disruption Strategy has two verticals – Deliberate, which focuses on redefining conventional business lines through tech disruptions, and Emergent, which involves crowdsourcing based on its platform ecosystem.

The company continues to strengthen its focus on innovation, enhancing and integrating solutions on its digital platforms to ensure secure and seamless end-to-end customer experiences. While investing continually to accelerate the development of digital capabilities, aggressive automation frameworks have been the crucial tool to tech disruption, making space for CDB to form a strong tech-driven financial institution.

Fernando also said that CDB began its third decade with the business model and strategy driven by a strong digital transformation by embracing sustainability and tech disruption, where the company has developed a solid foundation on very strong technological advancements, building tech solutions designed for a more resilient future.