SWIFT to streamlineLanka's financial sector
By Jayampathy JAYASINGHE
[email protected]
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From left: Suntel’s Head of Corporate Sales, Ranjith Fernando,
Director Technical, P. Premalal Kuruppu, Director Information
Technology, Dr. Tariq Marikri, Managing Director, Jeremy
Huxtable, Chairman, Lanka SWIFT user group, General Manager
Lanka Financial Services Bureau, Mihindu Rajaharatna, H.M.B.P.
Herath, Systems Engineer Central Bank.
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Sri Lanka's financial sector will be streamlined with the
introduction of the Society for World Inter Bank Financial
Telecommunication (SWIFT).
The SWIFT network was launched to facilitate inter bank transactions
through a sophisticated telecommunication network.
The system was launched following the partnership that Suntel Ltd
entered into with Lanka Financial Services Bureau two months ago.
Chairman, Lanka SWIFT User Group Ltd, (LFSBL) R.M.B. Ratnayake said
SWIFT, with its headquarters in Belgium has a membership of more than
8,300 financial institutions around the `world. "Three years ago we did
a feasibility study and was encouraged by the Central Bank's gesture to
introduce the system here.
The network is bound to reduce operational cost thus saving foreign
exchange," he said.
Suntel's Managing Director, Jeremy Huxtable said Suntel has
demonstrated to a larger customer base that they are capable of running
a secure network and working with the best technical people in the
country".
"I hope other Sri Lankan banking institutions will be encouraged to
join the system", he said. Suntel is a joint venture company that brings
together resources and expertise of Swedish telecom giant Overseas
Telecom AB, Metrocorp (Pvt) Ltd, Townsend Limited of Hong Kong, the
National Development Bank, and the International Finance Corporation (IFC),
a member of the World Bank Group.
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