LB Finance partners Huawei to revolutionise core banking infrastructure

Huawei Sri Lanka CEO Zhang Jinze (fourth from right) with LB Finance Managing Director Sumith Adhihetty (fifth from left). Others (from left): Huawei Senior Solutions Manager Nandana Kumara, Account Director – BFSI and Telco Sikander Sabeer, Chief Technical Officer Li Xiang, LB Finance Chief Information Officer – Information Technology Chethana Kahandugoda, Executive Director B.D.A. Perera, Deputy Managing Director Niroshan Udage, and Executive Director Ravindra Yatawara

LB Finance PLC, a premier non-banking financial powerhouse in Sri Lanka and Myanmar, has announced a transformative alliance with Huawei to overhaul its core banking infrastructure. 

This strategic collaboration is set to elevate LB Finance’s extensive suite of services, including digital wallets, digital banking, loans, leasing, savings and deposits, microfinance, and payment cards, leveraging Huawei’s state-of-the-art technology.

As a cornerstone of this initiative, LB Finance has integrated Huawei’s OceanStor Dorado 5000 All-Flash storage systems. These cutting-edge, cloud-ready systems are designed to handle high-speed transactions, large-scale data processing, and real-time monitoring, ensuring the integrity and performance of critical data operations.

In a remarkable feat, the Huawei OceanStor Dorado system replaced LB Finance’s existing storage infrastructure in November 2023 within just three weeks, seamlessly transitioning even during peak seasonal demand. Since the system went live, LB Finance has been migrating its production services and data, including virtual servers, databases, application servers, development environments, and AI/BI tools, to the new platform. The results have been extraordinary, with significant enhancements in Input/Output Operations Per Second (IOPS) performance, stability, and response times, reducing operational pressures and significantly boosting customer satisfaction.

This partnership is a testament to LB Finance’s unwavering commitment to digital transformation. The company is dedicated to continuously enhancing its technological capabilities to deliver superior financial services. By embracing cutting-edge solutions, LB Finance aims to stay ahead in a rapidly evolving digital landscape, ensuring its customers benefit from the latest innovations in financial technology.

LB Finance Managing Director Sumith Adhihetty said: “Huawei has delivered a swift and robust solution that meets a wide spectrum of client needs, reaffirming its position as a trusted partner. Their exceptional service has strengthened our confidence in this ongoing partnership, ensuring the dependability of our data centre. Huawei emerged as the preferred choice following a rigorous evaluation, demonstrating its efficacy in both production and secondary environments under demanding workloads.”

Huawei Sri Lanka CEO Zhang Jinze said: “Huawei is delighted to partner with LB Finance on their digital transformation journey. This partnership underscores our dedication to providing solutions that enhance efficiency and support future growth. Together, we aim to empower LB Finance to introduce pioneering digital products.”

LB Finance is committed to continuing its digital journey with Huawei to achieve its ultimate goal of being the pioneer in digital financial services in Sri Lanka. This steadfast dedication to innovation and excellence ensures that LB Finance remains at the forefront of the industry, delivering unparalleled value to its customers.