IBM powers technology upgrade for Sri Lanka’s Pan Asia Bank

Pan Asia Banking Corporation of Sri Lanka has partnered with IBM to upgrade its digital infrastructure.

This collaboration comes as banks in the region adapt to the demands of customers who seek customised experiences, transparency, and security in real-time.

To facilitate continuous growth and round-the-clock banking services, Pan Asia Bank has implemented a modernised technology framework that includes advanced servers, AI-driven application monitoring, and scalable data storage solutions.

These enhancements are designed to improve cloud readiness and offer real-time insights into application performance, thereby minimising downtime and enhancing customer satisfaction, stated the tech vendor.

Pan Asia Bank chief information officer Kanchana Devasurendra said: “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.”

In conjunction with South Asian Technologies (SAT), IBM implemented a suite of AI and hybrid cloud solutions, which feature IBM Power10 servers, IBM FlashSystem storage, and IBM Instana for comprehensive application performance monitoring.

According to IBM, the integration of these technologies has yielded improvements for the bank, including a 40% increase in application performance and a 50% reduction in the time required to launch new services.

Additionally, the upgrades have resulted in enhanced uptime and decreased operational expenses, the tech provider added.

IBM India & 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.”

Last month, BNP Paribas extended its partnership with IBM Cloud for another ten years to enhance its cloud-native strategy and advance generative artificial intelligence (GenAI) capabilities.

“IBM powers technology upgrade for Sri Lanka’s Pan Asia Bank” was originally created and published by Retail Banker International, a GlobalData owned brand.

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