DFCC iconnect revolutionises payment and cash management solutions for Lankan corporates

With the digitisation of processes spurred by the COVID-19 pandemic, customers and corporates alike are constantly looking for faster, more convenient ways to obtain remote financial services.

As such, DFCC iconnect has been making day-today financial operations for Sri Lankan corporates more efficient and convenient since 2018.

Awarded the titles of Market Leader in Cash Management Sri Lanka (Domestic Banks) and Best for Services in Cash Management – Sri Lanka by the recently concluded Asiamoney Awards, DFCC iconnect sets the benchmark for corporate banking in Sri Lanka.

DFCC iconnect has been servicing key businesses that contribute towards the local economy for over four years now, including Orel Corporation (Pvt.) Ltd and Gamma Pizzakraft Lanka (Pvt.) Ltd.

Orel Corporation is an adaptive manufacturing e-commerce-led enterprise in Industry 4.0, with expertise in building infrastructure, digital infrastructure, artificial intelligence, digital commerce, healthcare, education, IOT and transportation.

As a third generation, family-owned multinational company, Orel operates in 28 countries, across six continents and has an ambition to grow by 100 fold in the coming years. Orel maintains a healthy relationship with DFCC Bank as a priority customer and opted to onboard the iconnect app.

Speaking on the experience with DFCC iconnect Group Finance Manager Dinesh Karunaratne said, “We received multiple benefits from onboarding the iconnect platform. It has many automated services that aided in conveniently taking care of our finances, ensuring that we don’t allocate extra time or personnel to the matter. The platform helps us reduce unnecessary documentation, like moving away from manual cheque issuing and there is a significant improvement in our financial control aspects. Today, we have great confidence in the system that improves our functions effectively and efficiently and find it quite user-friendly as well.”

Gamma Pizzakraft Lanka Chief Financial Officer Sarath Kumara Singhapurage also testified to the convenience of using DFCC iconnect in his daily financial operations.

Gamma Pizzakraft Lanka is currently the sole franchisee for Pizza Hut and Taco Bell in Sri Lanka. The company owns and operates a chain of over 70 outlets islandwide and has been in business for over 25 years. Gamma Pizzakraft Lanka deals with DFCC Bank for both term loans and regular corporate banking. DFCC was the first bank to grant loans to Gamma for its store expansion plan in its initial stages of operation. Following this, DFCC Bank financed several major projects by Gamma and continues to maintain a healthy relationship with the company.

Gamma Pizzakraft started using DFCC iconnect close to a year ago and has experienced a host of benefits through this platform to date. The company utilised most functionality in the system, including host-tohost payments, direct file uploading, salary payments, pay order advises and so on.

Singhapurage elaborating on his experience with the platform said, “The system facilitates user level delegation of authority with strong securities, which enables us to manage our time more effectively and efficiently. The salary processing function of iconnect is exceptionally good, as is its help in our reconciliation processes. The platform also greatly aids in negating the hassle of cheque collection and realisation time for our vendors. The cash management team, led by a great relationship manager, delivers an excellent service and we’re glad to have DFCC Bank as our corporate banking partner.”