IBM India and South Asia Managing Director Sandip Patel (right) with Pan Asia Bank Chief Information Officer Kanchana Devasurendra during the announcement of their collaboration yesterday in Colombo – Pic by Lasantha Kumara
IBM yesterday announced its collaboration with Pan Asia Banking Corporation PLC to modernise the bank’s digital infrastructure and deliver faster, more secure banking services across Sri Lanka.
IBM said banks in Sri Lanka are undergoing major transformations to meet the needs of new and existing customers seeking personalised product experiences, transparency, and security, all in real time.
To support future growth and 24/7 banking operations, Pan Asia Bank upgraded its technology infrastructure with advanced servers, AI-powered observability for application monitoring and scalable data storage. These helped the bank enhance cloud readiness and provide real-time visibility into application performance— reducing downtime and improving customer experience.
Working with its business partner South Asian Technologies (SAT), IBM deployed the latest AI and hybrid cloud solutions including IBM Power10 servers, IBM FlashSystem storage and IBM Instana for real-time, full-stack observability for application performance monitoring.
The transformation has already delivered strong results: 40% boost in application performance; 50% faster deployment of new services and improved uptime and lowered operational costs
With this modernisation, Pan Asia Bank is better positioned to meet the evolving needs of Sri Lankan customers and drive digital innovation in the banking sector.
Pan Asia Bank Chief Information Officer Kanchana Devasurendra said: “As part of our commitment to deliver impactful, innovative, and responsible banking solutions to our customers and stakeholders, refreshing our technology systems that power our services was critical. With their proven track record of helping banking institutions around the world digitally transform, it was a natural choice for us to adopt these solutions from IBM. We believe that this transformation will help us strengthen our customer relationships through better service delivery and accelerate our innovation capability.”
IBM India and South Asia Managing Director Sandip Patel said: “Sri Lanka presents tremendous opportunities for digital transformation, and we’re proud to collaborate with forward-thinking institutions like Pan Asia Bank in harnessing the power of AI and hybrid cloud. By combining the right system, software, and services with the local expertise of our ecosystem partners, we’re helping Sri Lankan enterprises tackle complex challenges, unlock new possibilities, and drive measurable business outcomes — ultimately contributing to country’s broader economic growth.”
Recognising the unique needs of the Sri Lankan market, IBM said it continues to foster strategic collaborations and co-create tailored solutions that help local businesses drive efficiency, boost productivity, and achieve sustainable growth across industries.