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Trailblazers in Payment Technology Recognized at LankaPay Technnovation Awards 2019

LankaPay Technnovation Awards 2019 organized for the third consecutive year by LankaClear, the Operator of LankaPay National Payment Network, concluded successfully in grand scale at the Shangri-la Hotel, Colombo recently. This event is Sri Lanka’s first and the only Payment Technology Innovation Awards initiated with the objective of recognizing the pioneers of the country’s payment technology innovations, who steadfast to the cause of providing excellence and convenience by promoting digital payments. The well-attended event had more than 400 high profile guests from Banks, Non-banking Financial Institutions, Telecom and FinTech companies. The awards ceremony was conducted under the patronage of Hon. Ajith P Perera, Minister of Digital Infrastructure and Information Technology as the Chief Guest and Dr. Indrajit Coomaraswamy, the Governor of the Central Bank of Sri Lanka as the Guest of Honour. His Excellency Akira Sugiyama, Ambassador Extraordinary and Plenipotentiary of Japan to Sri Lanka also attended the event as a special guest.

Sampath Bank clinched the pinnacle of all awards by winning the Overall Gold Award for “Excellence in Interbank Payments” under the “Banking Institutions” category while Nations Trust Bank claimed the overall Silver Award. The Overall Bronze Award was secured by Commercial Bank of Ceylon PLC and People’s Bank bagged the Overall Merit Award. Under the “Non-Banking Financial Institutions” category, LOLC Finance PLC retained the overall Gold Award as the winner of “Excellence in Interbank Payments” for the second consecutive year.

Altogether 33 awards under 12 categories were on offer at the event and the Gold Award winners were;
Bank of the Year for Excellence in Customer Convenience - Category A: Sampath Bank PLC; Category B: Nations Trust Bank PLC; Category C: National Development Bank PLCBest Common ATM Acquirer of the Year - Category A: People’s Bank; Category B: Sampath Bank PLC; Category C: Amana Bank PLC Bank of the Year for Financial Inclusivity - Category A: People’s Bank; Category B: Nations Trust Bank PLC; Category C: Cargills Bank Ltd
Best Bank for Seamless Bank-end Operations – Hatton National Bank PLC
Most Innovative Bank of the Year - Sampath Bank PLC
Financial Institution of the Year for Customer Convenience - LOLC Finance PLC
Most Popular Electronic Payment Product: Banking & Financial Institutions category – People’s Bank (Product: People’s Wave)
Most Popular Electronic Payment Product: Fintech category – Dialog Axiata PLC (Genie)
Best Payment Application of the Year – Commercial Bank of Ceylon PLC (Commercial Bank Online Banking)
Best Bank for Retail Payments - Sampath Bank PLC
Best Mobile Application for Retail Payments – Dialog Axiata PLC (Genie)
Best Acquirer on LankaPay Online Payment Platform - Commercial Bank of Ceylon PLC
Best Acquirer for US Dollar Online Payments - Bank of Ceylon

With the rapid technological advancements and emergence of a new generation of influencers who grew up with technology, commonly known as Generation Z customers or simply Gen Z; established business models are coming under tremendous pressure to remain pertinent in this digital era. This new generation of customers who have been exposed to the Internet, social networks and mobile devices from a very young age; live, work and consume way different to the previous generations, demanding organizations to rethink their business models. Driven by technology and an on-demand culture, consumers today are increasingly convenience-driven and demand products and services to be made available at the touch of a button, anytime and anywhere. Payments as an integral part of their life styles too need to keep pace with these changing dynamics in consumerism. It is in this backdrop that this year’s LankaPay Technnovation Awards focused on customer convenience under an apt theme “The Clear Touch”, taking into consideration the numerous elements that need to operate seamlessly, in a fraction of a second in order to bring convenience to the customers’ fingertips. The awards ceremony recognizes the payment technology innovators who have successfully addressed the emerging consumer needs by taking customer convenience to new heights.

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Overall Gold Winner – Excellence in Interbank Payments (Banking Institutions) – Sampath Bank PLC

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Overall Merit Award Winner – Excellence in Interbank Payments (Banking Institutions) – People’s Bank

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Overall Bronze Award Winner – Excellence in Interbank Payments (Banking Institutions) – Commercial Bank of Ceylon PLC

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Overall Silver Award Winner – Excellence in Interbank Payments (Banking Institutions) –Nation’s Trust Bank PLC

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Overall Gold Award Winner – Excellence in Interbank Payments (Non-Banking Financial Institutions) – LOLC Finance PLC

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Mr. Channa de Silva enlightening the audience on new payment technologies

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Mr. Anil Amarasuriya, Chairman – LankaClear delivering the welcome address

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