People's Bank signs agreement with Silverlake System

Recently, People's Bank was awarded 'Best Core Banking Implementation and Deployment in South-Asia and Middle East' by Silverlake and IBM at the Banking Technology Summit held in Perth, Australia.

People's Bank has continued to be a leader in the provision of Financial Services catering to the people of the country.

Five years ago, in line with a new strategy to be more competitive and extend its services to the people, the bank chose to implement the Silverlake Integrated Banking System on the IBM System I platform.

Speaking at the ceremony at the People's Bank head office, Chee Chin Leong, President of Silverlake System said, 'This is indeed a significant step People's Bank is taking in expanding its network systems to all branches.

So far both we and the bank have proven to be successful in what has been implemented. Comparatively, the service levels of People's Bank has become more dynamic, efficient and also profitable as opposed to where it was prior to the systems being implemented. We are proud to be a part of this effort to bring People's Bank on par with some of the best banks in the world. We are very happy about the consolidation.'

From deposit schemes designed especially for new born infants to retirement schemes for senior citizens, lending for agriculture, fisheries and production to more consumption based individual/personal lending, this bank has, with this implementation, successfully achieved its objective, significantly increasing its revenue and profits despite intense competition within the financial services sector.

People's Bank has more than 650 branches and service centers dedicated to servicing the needs of the people.

With the new Silverlake Integrated Banking System, the bank has been able to effectively expand its range of products and services, delivering in a more customer friendly and productive manner. People's Bank is signing up to automate an additional 127 branches on the Silverlake System and consolidating their commitment to provide better products and services to their customers.

P.V. Pathirana, General Manager/CEO of People's Bank said for the last 48 years the People's Bank branch network has been one of our key strengths which has helped us to enhance our reach and thereby increase our customer base.

Therefore, we have identified the need for online banking which ensures anytime-anywhere banking for the people of Sri Lanka.