Union Bank of Colombo bags four Lankapay Technnovation Awards 2017
Union Bank of Colombo PLC gained significant recognition at the inaugural Lankapay Technnovation Awards event held on June 20, at The Kingsbury Hotel.
The bank won four awards in key categories, each of which had been adjudged based on the performance of individual banks and non-banking financial institutions against a set criteria defined and communicated at the commencement of the competition period and based on the transaction values and volumes achieved by the competing banks in each respective category. Accordingly, Union Bank was conferred the following prestigious honours at the ceremony, which was preceded by Central Bank of Sri Lanka (CBSL) Governor Dr. Indrajit Coomaraswamy and featured renowned speaker Monetary Authority of Singapore Chief Fintech Officer Sopnendu Mohanty, as the keynote speaker.
- Best Common ATM Acquirer of the Year (Category B: Banks with an ATM network of 100400).
- Bank of the Year for Financial Inclusivity (Category C: Highest combined volumes of all channels, with average monthly transactions between 10,000 and 100,000).
- Bank of the Year for Excellence in Customer Convenience (Category C: Combined volumes of SLIPS, CAS and CEFTS with average monthly transactions between 10,000 and 40,000). Overall Merit Award Winner for Excellence in Interbank Payments. Commenting on the exceptional performance of the bank at the awards, Union Bank Chief Executive Officer Indrajit Wickramasinghe said, “We are pleased at the bank’s profound growth and performance in the technological innovation space of the banking industry, which has been duly recognised at the Technnovation 2017 awards. As one of the fastest growing commercial banks in the country, Union Bank has been committed to delivering a differentiated banking experience to our clients by investing in the latest technologies that deliver convenience and promote financial inclusion.” “Union Bank was also the first in the industry to take the bold step of joining the common ATM switch introduced by Lankaclear in a pilot project, which turned out be a resounding success.
These awards place Union Bank at a leading position in ‘Technnovation’ within the industry and acknowledge the great strides it has made in the direction of developing technologydriven banking conveniences.
We will remain committed to our vision of becoming an innovator of banking solutions and to be the bank of choice for the wider retail, small and medium enterprise (SME) and corporate clientele, through continuous investment on banking innovation and technology,” Wickramasinghe further stated.