IFINITY with Temenos and Bahwan Cyber Tech transform banks to secure cloud world

NCINGA and IFINITY Group Chairman Imal Kaluthotage

IFINITY Chief Executive Officer Jithendra Weerasekara

Temenos Managing Director APAC Ramki Ramakrishnan

Microsoft India BFSI Sector Chief Technology Officer Vijosh Ammayath

Dialog Enterprise Head - Enterprise Business Solutions Madhava Siriwardhane

A transformative event has reshaped the banking landscape with 60+ C-level bankers in over 20 top banks and financial Institutions in Sri Lanka, organised by IFINITY Global, the tech enablers rewriting the rules for banks, embracing the intelligent, infinite, invisible banking revolution. 

With the Strategic partners Temenos and Bahwan CyberTek, supported by technology partners Dialog Enterprise and Sys Enact orchestrated the symposium at the Shangri-La Colombo recently.

The forum served as a platform to showcase the transformative potential of cloud banking and underscored the pivotal role played by Temenos, the global No-1 banking software company. The event included international speakers such as Temenos Managing Director APAC Ramki Ramakrishnan, BSG Consultant Zannettos Zannettou and Microsoft India BFSI Sector Chief Technology Officer Vijosh Ammayath, who conducted sessions on the evolving technology and market landscape shaping the future of banking in Sri Lanka.

The keynote address by Temenos’ Ramki Ramakrishnan provided insights on the banking technology trends, with advice for banks in the Asia Pacific region on how to “engage and grow in a cloud world.” According to Ramakrishnan, the case for the public cloud in banking is growing, citing a new Economist Impact study for Temenos of global banking executives, in which, more than half (51%) of respondents agreed that banks will no longer own any data centres due to the move to public cloud in next five years. Banks are increasingly moving to the cloud due to business agility, efficiency, security and environmental considerations. Sri Lanka aims to catch up with other ASEAN countries like Singapore and Malaysia in adopting cloud technology for essential banking services.

Zannettos Zannettou took the stage with, “Trust in SaaS: Differentiating on Data, Security, Regulations, and Certification,” which emphasized the untapped potential of data within banks and its role as a competitive advantage for modern Sri Lankan banks. The discussion revolved around data management best practices for banking in the cloud, reinforcing the importance of data security and regulatory compliance. 

According to Zannettou, establishing trust in cloud technology is crucial, with 700 SaaS customers, in five continents, covering over 30 regulatory jurisdictions, Temenos has a trusted platform that brings true banking capabilities at scale to incumbents and new players. 

The session titled, ‘Impactful Deployment of Cloud Native Solutions’, delivered by AVP/ Head of Customer Experience Devinda De Zoya and Vice President of Delivery Ravindra Basnayaka, spotlighted IFINITY’s substantial contribution to core banking and cloud banking in collaboration with Temenos and Azure. The session also provided insight into IFINITY’s best practices, implementation experiences, and reference architectures of Temenos on Azure and managed services, covering capabilities in the cloud world, including Platform as a Service (PaaS), multi-cloud, hybrid cloud solutions, and business consulting functions.

The Dialog Enterprise session, conducted by Dialog Enterprise Product Head - Cloud and IDC Saranga Namala and Dialog Enterprise Head - Enterprise Business Solutions Madhava Siriwardhane, explored the significance of regulatory compliance in the cloud, emphasizing the secure and flexible nature of cloud technology for banks and its compliance with regulatory standards.

The collaborative efforts between Azure and IFINITY were highlighted in the ‘Next Generation Banking with Azure’ session by Microsoft India CTO - BFSI Vijosh Ammayath. The discussion delved into the introduction of cloud computing for core banking, the latest offerings from Azure in the financial services sector, and how Azure supports IFINITY and Temenos.

Concluding the event, NCINGA and IFINITY Chairman Imal Kaluthotage stated, “It is our distinct vision to guide Sri Lankan banks through a transformative journey that transcends the realms of traditional cloud services, positioning them as the AI-driven banks of the future. Our commitment is underscored by the strategic cultivation of home-grown talent, forged through collaborative partnerships with industry leaders such as Temenos and Azure. By leveraging the expertise of these esteemed allies, IFINITY is dedicated to fostering innovation and empowering the financial landscape with cutting-edge AI capabilities.”

Pix by Ruwan Walpola