Technology

Lack of discipline the drawback in software products industry- COO Interblocks

by Gamini WARUSHAMANA

Dr. Chaminda Ranasinghe Pic: Kavinda Perera

The main drawback for Sri Lanka to be successful in the software products is the lack of discipline among professionals, said Chief Operating Officer of Interblocks Limited Dr. Chaminda Ranasinghe. "We have intelligent and talented software engineers but many lack entrepreneurial skills, discipline, a risk taking and positive attitude which are important for software production. Most of the success stories in the software industry have proven that the vision and discipline of entrepreneurs have been the key to their success, he told the Sunday Observer .

Following are excerpts from the interview:

The IT solution landscape is a highly sought-after business model which could be segmented into two domains; software projects (bespoke software) and software products (packaged software). Project based software companies develop customised solutions. This is a very competitive business because the industry faces ups and downs with changes in other businesses. For example, during the global economic crisis project companies were faced with serious difficulties. However, there are a few successful project based software companies in Sri Lanka and they survived and performed well even during the global crisis.

Software product development is a relatively a complicated process because you develop solutions for generic use. Product companies develop solutions that could be easily customised to suit the requirements of individual customers.

Product domains

It is difficult for Sri Lanka to compete with countries such as India in project domains since we don't have a large number of engineers and therefore, product domains are the best way forward. The demand for the next generation of solutions is on cloud computing and there will be many opportunities for product companies to market their solutions on opex rather than on capex business models. To exploit these business opportunities Sri Lanka should develop entrepreneurial skills, team spirit, risk taking and discipline of IT graduates while improving the quality of graduates from universities.

Interblocks, a successful software product company specialises in financial and banking - channel automation. In the channel automation domain, Interblocks, is the market leader in Sri Lanka as well as several other countries in the region such as Philippines, Cambodia and Bangladesh. Interblocks has a suite of products (iSuite) which specialise in finance and banking channel automation. The suite of products include specialised products such as iSwitch, iBank, iMobile, iPay, iCard and iNet.

Interblocks iSwitch, the switching and middleware solution is a breakthrough in channel automation. Traditional switches used with ATM machines were introduced in Sri Lanka in the 1980s and 90s. Most of these switches from international vendors were hardware specific and less configurable.

However, iSwitch, a multi-channel soft switch runs on any industry standard hardware platform. We take pride in using iSwitch to orchestrate transactions from any destination.

We are interfaced and certified with all the leading payment hubs such as VISA, Master, Amex together with a host of core banking and telecommunication solution vendors.

It is an open, integrated, scalable, secure platform that enables financial institutions to deliver products and services via the wide range of delivery channels available, while having the flexibility to accommodate future channel solutions.

Solution needed

Organisations today need a solution that provides an integrated channel banking solution, which has the flexibility to accommodate customisation without compromising the integrity of the solution. With implementations spanning over 10 countries, iSwitch is a proven and robust solution.

iBank is a comprehensive virtual banking solution of Interblocks that takes online banking to a new level of customisation with distinct retail and corporate modules, designed to meet the specific needs of any client.

It provides corporate banking which empower corporate clients to effectively manage their banking needs online.

Enabling anytime banking to help corporates meet deadlines and manage finances more effectively and efficiently.

Be it a centralised management of a group of companies or an individual company, iBank provides visibility for top management and ease and efficiency for users within the organisation, while maintaining the highest level of security.

Interblocks iCard is a single card solution.

Be it credit, debit, gift or mobile, the card is an essential consumer need today. However, along with the vast potential offered for growth, there is great potential for fraud as well.

Therefore, card issuers need to have comprehensive checks and balances in place to avoid fraud and this is where Interblock's expertise in financial transactions makes the difference.

iMobile of Interblocks empowers mobile commerce. With growing consumer demand for the convergence of payment technologies on the mobile platform, industries across the board from financial services to travel, retail and telecommunications are under pressure to provide efficient, secure user friendly mobile solutions at an increasing rate.

iMobile is a complete mCommerce solution built on the iSwitch platform enabling fast and efficient deployment of new solutions without compromising on transaction integrity.

Global payments

Interblocks iPay powers global payments. It is one of the flagship modules of the iSuite range of products. iPay provides banks, merchants and consumers conducting payments and commerce transactions with a cost-effective and robust means of processing payments via a wide variety of channels securely and real-time.

When Interblocks was launched locally Sampath Bank and NDB Bank first implemented our solutions.

We are very thankful to the local banking community for providing us the breeding ground to nurture our product suite.

Today our solutions are used by 12 local banks providing various services. In the Philippines we are the market leader in banking solutions.

Recently, Interblocks automated MegaLink, a large interbank transaction routing hub that connects more than 23 banks, in the Philippines.

We consider this project a great achievement as we completed full automation of 23 banks within six months and further the central switch currently handles a peak volume of 2 million transactions daily, Dr. Ranasinghe said.

Strengthen IT systems to avoid crisis - Dy Governor

"Strengthen IT systems to avoid crisis No IT system is foolproof. Therefore every company has to carry out regular system audits to improve systems that are already in place to avoid a crisis", said Deputy Governor Central Bank Dharma Dheerasinghe, chief guest at the first ever roundtable conference themed 'Reputation in the digital society-Risks and rewards organised by Banking Frontiers, a magazine published in India together with Novell.

Editor Banking Frontiers Manoj Agrawal presents a token of appreciation to Deputy Governor Central Bank D. Dheerasinghe. Publisher, Banking Frontiers Babu Nair is also seen. Pic: Kavindra Perera

"Recovery from the global financial crisis is very slow and nobody knows how much more time is needed for recovery.

Big names such as Lehman Brothers also suffered due to the crisis and the finger is pointed at the regulators saying that there was not adequate regulation. The lesson we learnt is that systems were not adequate and therefore systems should be strengthened. Many people think that social media is primarily a youth phenomenon but celebrities and politicians use it extensively. Globally companies such as Nike and Pepsi have tapped into social media as a means of advertising. So has Pizza Hut in Sri Lanka".

Chief Risk Officer Sri Lanka and the Maldives HSBC, Dimantha Seneviratne said that unlike before now 50 percent of customers do their transactions through the internet.

Therefore risk departments should be proactive.

A top official of the Central Bank said that regulators are now evolving guidelines on internet banking.

According to bankers social media is the marketing department's dream and a risk department's nightmare.

Former Deputy Governor Central Bank W.A. Wijewardena said that regulators are way behind the market and therefore now it is time for them to be updated.

All opportunities and risks should be considered when widening the perimeter of the bank as sophisticated hackers will target the star employees password, be it either the CEO or the system administrator.

IT is not foolproof while it is real time, therefore the checks also should be done real time. Competition has created a lot of threats while password management is becoming complex by the day.

IT cannot address all security issues but it can influence behaviour.

For example phishing (wrong mail to the right person)and leaking(right mail to the wrong person) of mails can be done by mistake or deliberately and very little can be done to reduce them, but both mistakes carry a high degree of risk, said Editor Banking Frontiers Magazine Manoj Agrawal.

SG

KIK panel boards to Asia, Africa, ME

KIK Lanka Ltd continuously gets orders to manufacture and supply electrical panel boards needed for large scale industrial institutions, business establishments and building complexes in Asian, African and Middle Eastern countries, earning a large amount of foreign exchange for Sri Lanka, said KIK Group Chairman, Chartered Engineer Lalith Kahatapitiya. Speaking further Kahatapitiya said, "KIK Lanka Ltd was begun in 1997 as a Board of Investment approved industrial institution in the Free Trade Zone, Katunayake.

Panel boards in manufacture.

Presently, KIK manufactures and supplies electrical panel boards that are needed for large scale industrial institutions, business establishments and building complexes in Sri Lanka, and we are exporting our products to Asian, African and Middle Eastern countries.

There is a great demand for our products in India and we opened a sales office in India in the beginning of 2000. We got orders to manufacture and supply electrical panel boards to some massive industrial organisations in India such as Motorola, Nokia, Hyundai, Reynolds, Nissan and Reliance. We were able to successfully complete those orders to the complete satisfaction of those organisations.

The ability of our organisation to complete the orders received in a timely and competent manner depends on the dedication and confidence of our workers.

I value that contribution very much."

KIK Lanka Limited, Sales Promotion Manager, Rohan Jayasinghe said, "There are industrial organisations manufacturing electrical panel boards in Asian, African and Middle Eastern countries, and our company has to compete with them. Quality, timely supply, guarantee, after sales service and competitive prices are our trade mark. Our panel boards have received international quality certificates and standards."

Amazon introducing two new Kindles

Amazon will introduce two new versions of its Kindle electronic reader, including a model that sells for 139 dollars, its lowest price yet, The New York Times reported.

The 139-dollar Kindle will be Wi-Fi only, connecting to the online Kindle store by wireless instead of 3G cellular networks like the previous Kindles, the Times said.

The other new Kindle will replace the basic Kindle 2, which was listed as "temporarily out of stock" on Wednesday at Amazon.com.

The Times said the new basic Kindle will sell for the same price, 189 dollars, as the current model.

It said both new Kindles are smaller and lighter than the current versions and feature higher resolution screens and crisper text.

Amazon is cutting the price of the Kindle and revamping the line as it faces a threat in the e-reader market from Apple's iPad and companies like Sony and bookstore Barnes & Noble, which also offer e-readers.

"The hardware business for us has been so successful that we're going to continue," Amazon founder and chief executive Jeff Bezos told the Times in an interview.

"I predict there will be a 10th-generation and a 20th-generation Kindle. We're well-situated to be experts in purpose-built reading devices," he said.

Bezos said not to expect a color Kindle soon. Color was "not ready for prime time," he said.

Apple's cheapest iPad costs 499 dollars and features a color e-reader compared with the black-and-white Kindle, which is devoted exclusively to digital books.

Barnes & Noble sells a version of its e-reader, the Nook, for 149 dollars while Sony's cheapest e-reader is 150 dollars.

The new Kindles, which will ship on August 27, weigh about 15 percent less and are 21 percent smaller than the current basic model, the Times said.

Amazon's also offers a large-screen model, the Kindle DX, which costs 379 dollars.

Amazon does not release sales figures for the Kindle, but says it has been the Seattle, Washington-based company's bestselling item for two years. Courtesy AFP

A&E invests in future engineers

American & Efird Lanka (Pvt) Ltd, the Brandix Group's thread manufacturing company recently renovated and refurbished a lecture room of the Department of Textile and Clothing Technology of the University of Moratuwa.

The opening of the renovated room with modern facilities took place as part of the Silver Jubilee celebrations of the Department.

Brandix Group Director Aslam Omar opens the lecture room.

The new lecture room is fully air conditioned with an energy efficient inverter system and is equipped with a computer system, digital sound system and a multi media projector for the convenience of students.

The renovation cost more than Rs. 1 million, and the maintenance of the room will also be undertaken by A&E.

Janaka Gamage CEO of A&E said: "As the Strategic Sewing Thread Partner of the Department of Textile and Clothing Technology, A&E is happy to have refurbished this lecture room for the benefit of students who would in turn contribute to the growth of the apparel sector in Sri Lanka in the future."

In May this year, A&E was appointed as the Strategic Sewing Thread Partner to the Department of Textile and Clothing Technology of the University of Moratuwa.

A&E will also sponsor an annual award for the Best Performance at Industrial Training by a student of the BSc. Engineering Degree program in Textile & Clothing Technology, as part of the partnership.

American & Efird Lanka (Pvt) Ltd is a joint venture partnership between American & Efird Inc. USA, one of the world's premier Industrial Sewing Thread Suppliers; Brandix Lanka Ltd, Sri Lanka's largest apparel exporter and Brandot International Ltd., USA. Established in 1891, A&E Inc. boasts of over 115 years of textile experience. Currently, the A&E global supply network has 29 manufacturing centres and 68 service centres located in 42 countries.

Conferred the ISO 14001 Environmental Management System certification and endorsed as the Preferred Thread Solutions Supplier for the fourth consecutive year by the Sri Lankan Apparel Exporters Association (SLAEA), A&E's state-of-the-art manufacturing and total commitment to quality results in premier sewing thread products that are used worldwide.

CEO WaveNET Suren Pinto, receiving the Mbillionth Award for their 3G gaming product - 3G Play, at the Awards Gala in India.

WaveNET wins Mbillionth Award for '3G Play'

WaveNET, a provider of premium mobile technology products and solutions, was bestowed with a Mbillionth Award in the m-entertainment category for their innovative 3G gaming product 3G play. The application allows subscribers to challenge other players by making an inbound video call to the system, or participate in single player games with the system. Total privacy can be maintained through user-profiling. 3G PLAY offers a range of game play experiences that include 'Tik Tak' (3G form of Tic Tac Toe) 'Reversi' and 'Cricket Mania'.

Indonesia overtakes Thailand in car sales

Indonesia has hit the fast lane in terms of auto sales and has overtaken Southeast Asian pace-setter Thailand for the first time, according to a Nikkei survey from the first six months of the year.

Officials and auto executives attending the 18th Indonesia International Motor Show in Jakarta told AFP the outlook for sales in the archipelago of 240 million people had never been brighter. "Since late 2009 and early 2010, all auto brands and producers have been trying to increase production capacity in Indonesia" to meet demand, industry ministry official Budi Darmadi said.

"Compared to other countries in the region, we have the fastest growth of car sales." Sales peaked in Indonesia at 600,000 units in 2008 but slumped 20 percent last year due to the global financial turmoil.

This year's figures are expected to top 700,000 for the first time, ahead of Thailand.

The Indonesian Automotive Industry Association (Gaikindo) said auto sales in Indonesia jumped 76 percent to 370,206 vehicles in the first half of 2010, driven by strong demand for minivans with engine outputs of 1.5 liters.

Sales in Thailand rose 54 percent to 356,692 units during the same period, according to the Nikkei survey released Wednesday.

Some 1.18 million new vehicles were sold in Indonesia, Thailand, Malaysia, the Philippines, Vietnam and Singapore during the period, it said.

This was an increase of 41 percent and put the industry on track to surpass the 2008 sales record of 2.09 million units for the six key Southeast Asian markets.

The news will be music to the ears of Toyota executives - Japanese cars account for about 80 percent of sales in these countries.

Courtesy AFP