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| Sunday, 16 October 2005 |
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| News Business Features Editorial
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Core banking system to enhance productivity by Don Asoka Wijewardena Our focus is on creating a competitive advantage by establishing a robust, cost-effective and integrated banking system. The Core Banking Solution combines with more branches with more functionality than any other bank,said People's Bank Chairman P.Amarasinghe at a media conference on "People's Bank Core Banking Solution Roll Out" at the Colombo Plaza Hotel. Amarasinghe said that in 2003 People's Bank chose Silverlake System,Malaysia as its IT partner to implement and install state-of-the-art Core Banking and Trade Services solutions. The implementation of the Core Banking Solution would enable the bank's corporate and commercial branches to service,retain and attract much-needed quality customers. He said that the rolling out of the new Core Banking System would enhance the value of the bank by helping it to deliver a high incremental return on investment. It would strengthen the People's Bank ability to compete by enhancing customer service improvement and productivity enhancement. People's Bank General Manager/CEO Asoka de Silva said that the pilot phase Core Banking project would be successfully implemented at the People's Bank Head office, Corporate Banking Division, Foreign Currency Banking Unit and Overseas Customer Services Unit with 60 branches going online by the end of this year. He said that the People's Bank was also planning to link 100 of its core branches to the centralised system by the first quarter of 2006. "By the end of 2006, 200 branches would be automated on the centralised Core Banking System. Referring to the advantages in the core banking system,de Silva said that the centralised Core Banking System would result in very efficient and personalised customer service round-the-clock banking through mutiple delivery channels and gear the bank to meet a dynamically changing environment. He also said that customer service was the bank's prime focus and it would improve the functionality and service available in any commercial bank in the country. The People's Bank has a Rs. 256 billion asset base and a 10 million customer base. |
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