LOLC Finance wins big in digital banking at Technnovation awards
Sri Lanka's Non- Banking Financial Institution ( NBFI) giant, LOLC Finance PLC which is renowned for offering cutting-edge digital banking solutions, bagged two of the topmost awards at the recently held LankaPay Technnovation Awards 2019.
LOLC Finance proved its prowess yet again in the digital banking sphere, competing against prestigious banks and NBFIs to gain these top positions. At the awards ceremony, LOLC Finance was bestowed with the coveted titles, Financial Institution of the Year for Customer Convenience and Overall Award for Excellence in Interbank Payments under the Non- Banking Financial Institutions category, the company said in a media release.
LankaPay Technnovation Awards, an initiative of LankaClear, the operator of the National Payment Network is an effort to enhance the efficiency of the country’s national payment infrastructure and promote the use of electronic transactions. The awards recognise member banks and non-banking financial institutions who have excelled in electronic transactions during the 2018/19 financial year.
Deputy Chairman/ Chief Executive Officer of LOLC Finance, Ravi Tissera said, winning two top accolades at the LankaPay Technnovation Awards 2019 demonstrates that LOLC customers have well-accepted its value- added, hassle-free payment process.
LOLC Finance was one of the first financial institutions in Sri Lanka to break into the mobile technology domain with the launch of the LOLC Real Time online portal and the mobile app in 2014 and 2015, respectively. This first move gave the company a strong competitive advantage in the market, which has helped it make further inroads into the mobile technology space via ground-breaking new solutions.
Conrad Dias, LOLC Group’s Chief Information Officer said: “Acknowledging the importance of the mobile channel in today’s financial services landscape, we strive to achieve the right balance between the rapidly evolving mobile environment and what is most beneficial to our customers. Guided by our customer first philosophy, our investments in mobile technology aim to create a consistent and efficient digital universe across all platforms. The Smart Collection Solution, PELE ( Phone- eken- loan- ekak) and iPay are some of the revolutionary platforms introduced.”