Lankaclear marks first decade in business
Sri Lanka’s National Clearing House, LankaClear (Pvt) Ltd., marked its first decade in business with the announcement of a corporate rebranding and the launch of a new logo for the company.
“We are very proud of our achievements over the last decade but the next 10 years will be much more challenging due to current trends in the global economy, growth in technology and customer expectations that are constantly changing,” General Manager/Chief Executive Officer, LankaClear, Sunimal Weerasooriya said.
He further stated that LankaClear would be taking steps towards a unified e-payments system, along with other product releases in the near future. “Going forward we will require a solid payments infrastructure to be able to cater to these changing requirements. We hope to implement a system through which all electronic payments will go through a single infrastructure, thereby streamlining the whole process,” Weerasooriya said.
He further stated that the country’s e-payment system will eventually be expanded to more extensively cater to mobile transactions and eventually, cross border transactions.
“Our customers are also looking for global connectivity. For example, in Malaysia they have a national switch which also connects to Singapore, and other countries in the region. Some day soon we hope to do the same thing for the SAARC region, with countries like India and Pakistan,” Weerasooriya said.
LankaClear, which is a joint venture between the Central Bank of Sri Lanka and Sri Lankan licensed commercial banks, currently sees a daily turnover in cheque clearing of Rs.30 billion, whilst the Sri Lanka Inter Bank Payments System (SLIPS) records a daily turnover of between Rs.2-3 billion.