Page 6 The Island News Tuesday 05th July, 2011 SriLankan Airlines CDB selects Intellect slashes air fares core banking solution !Polaris Software and MillenniumIT Join Forces to focus on Emerging Sri Lankan Market Polaris Software (POLS.BO), a Middleware, MIS and Analytics, enabled, will allow the Bank to rap- and Africa (IMEA) for Polaris said, leading global Financial Audit Trail and Access Control idly realize its growth and expan- “ CDB choose Polaris after a Technology Company and with Single Sign-on. sion plans. lengthy due diligence and this win MillenniumIT, a leading informa- This well developed application Speaking on the occasion is indeed prestigious to us! There is tion technology provider and part software will enable CDB to Mahesh Nanayakkara MD & CEO, a need for high quality CBS solu- SriLankan Airlines’ has elling beyond SriLankan’s of London Stock Exchange Group, increase its efficiency, performance, CDB said: “ Intellect will support tions in Sri Lanka that specifically announced an attractive, flex- online points to offline desti- today announced that Citizens security and transparency of its future growth plans of CDB in addresses the need of this segment ible air fare plan to provide a nations such as Scandinavia, Development Business Finance plc day -to- day operations allowing its terms of business scaling, product and we are indeed bullish.” more competitive range of Ireland, Portugal, Greece, (CDB), a leading financial institu- customers to enjoy a higher level of depth and meeting ever evolving Faiq Faaiz, Executive Vice fares for flights from Istanbul to name a few in tion in Sri Lanka, has signed service. Intellect CBS will also facil- customer expectations. Signing up President, MillenniumIT said: “As Colombo to many of its desti- Europe. New Far East fares Polaris’ Intellect Core Banking itate smooth integration to different with Intellect will pave the way for the local business partner of nations in its global network, announced by the airline Solution (CBS), a comprehensive initiatives and provide a platform CDB to have the competitive edge Polaris, MillenniumIT is excited to the national carrier apply to offline destinations core-banking product with multi- for ensuring risk control through over competition which is impera- play an integral part in the announced earlier this week. such as the Philippines, currency, multi-branch and multi- its various processes. tive for business growth. Intellect IntellectTM implementation at SriLankan currently oper- Korea, Vietnam and Papua banking capabilities to transform CDB opted for Intellect CBS will support the future growth CDB, which is a key role in deliver- ates approximately 175 flights New Guinea. their banking technology platform. because its advanced technology plans of CDB in terms of business ing technology to benefit the bank’s a week, out of Colombo to Flights out of Colombo to The Intellect product suite sup- offers high performance whilst scaling, product depth and meeting business expansion plans. We firm- destinations in Europe, the the SAARC destinations of ports a wide spectrum of banking enabling it to have a highly config- ever evolving customer expecta- ly believe that our experience in Middle East, Far East and the Dhaka, Kathmandu, Lahore, operations ranging from basic Core urable functionality which ensures tions. The implementation of this core banking technology and Sub-continent. Pune, Nagpur, Goa, Jaipur modules, General Ledger, that minimal customization is system will create the technological expertise in local banking and The fare structures have and Ahamadabad; plus pas- Operational Accounts, Deposits, required as most of the current and framework that will cater to all financial services will provide the been constructed to suit a sengers flying to Canada & Loans and Advances, future requirements including busi- requirements of CDB as we rapidly skills necessary to support this variety of passenger needs USA via Transatlantic points Leasing,Counter Operations, ness process changes, can be ful- expand our geographic presence.” implementation, including products and options which include of London, Paris, Frankfurt Remittances, to other more special- filled using configuration. This Commenting on the deal K and applications from IBM, Veritas special one-way fares for stu- and Abu Dhabi can also pur- ized modules such as, Pawning, together with its around-the-clock Srinivasan, Executive Vice and Oracle. The MillenniumIT team dents travelling to London, chase competitive tickets Debentures, Securitisation, Loan real-time accessibility and availabil- President & Geography Head, will also provide CDB with post go- Kuala Lumpur and through SriLankan Airlines. Origination, Integration ity and the fact that it is web Indian Subcontinent, Middle East, live support”. Bangalore; special one-way Passengers who purchase fares for Sri Lankan employ- tickets at least two weeks ees to the Middle Eastern prior to travel, will have the HNB’s to boost farming communities countries such as Doha, Advance Purchase advantage Dubai & Saudi Arabia ; of obtaining tickets at a Hatton National Bank has been Tissamaharama area were present attractive group fares for pil- lower fare. SriLankan has actively involved in rural develop- at the event. grimages to India, Jeddah also announced infant/child ment during the last four decades. Abeywickrema stated that the and Thailand; competitive discounts and the flexibility The bank has been in the forefront primary objective of “Ran Govi fares for business travellers to receive date and route by providing financial services to Saviya” is to make today’s unse- to the Far East; and special changes at a minimum fee, the rural community covering a cure farmer to get into a more Prepaid Ticket Advices than before. wide and extensive area focussing firm footing with a sense of secu- (PTAs) to bring-in loved ones “We are making signifi- on agriculture, agri processing, rity. Finance will be provided to home from other destina- cant progress in many animal husbandry, fisheries, trad- the farmer by way of a loan in tions. Overall, fares have aspects of our operations ing & other self employment proj- exchange for their Gold. This loan been slashed by about 15 – 20 allowing us to offer more ben- ects, the bank said in a statement. which will be backed by the percent. efits to our passengers” said Over the years the bank has Interest Subsidy from Central There is a double advan- SriLankan’s Chief Marketing gained a wide exposure in serving Bank of Sri Lanka (CBSL) under tage for Business travellers Officer, G T Jeyaseelan. the rural community and has gone the New Comprehensive Rural who can now enjoy competi- SriLankan Airlines is in beyond the normal engagement of Credit Scheme (NCRCS) will no tive fares and direct longhaul the process of modernising providing financial assistance by over Rs.20 Billion in agri rural officially launched at doubt help bring a certain kind of flights to Europe without the and increasing its fleet and finding markets for the products sector loans and the current out- Tissamaharama by Hatton union between HNB, CBSL the hassle of stopovers. In addi- this year, has expanded the that are produced through the standing is over Rs.8 Billion. To National Bank’s Managing farmer and the ever so competi- tion to special Business fares, airline’s route network to 51 rural sector. To facilitate this reinforce its commitment the bank Director/ CEO, Rajendra tive market. He further elaborated passengers can avail them- destinations in 32 countries. process HNB has organized and has currently deployed more than Theagarajah and the guest of hon- and highlighted as to how signifi- selves of a Limousine trans- It commenced flights to conducted a number of trade fairs 130 field officers including micro- our was M S S Dharmawardena - cantly this will contribute towards fer to their hotels or homes at Guangzhou and Kochi with in the rural hamlets of Sri Lanka. finance/ agricultural experts to Additional Director, Regional developing Sri Lanka’s rural agri- no extra cost in London. plans to commence opera- The bank continues to promote assist the rural sector banking Development of Central Bank of cultural economy with a great Special fares are also tions to Moscow and Zurich a number of rural sector refi- operations. Sri Lanka. Chandula focus on tapping the latent talent extended to passengers trav- by the end of the year. nance and non-refinance credit As a part of its innovative ini- Abeywickrema Deputy General of the Sri Lankan Farmer. lines and provides a comprehen- tiatives to develop the farming Manager – Marketing & Retail The main attraction of this NDB Leasing, Sathosa Motors sive package of financial services community in Sri Lanka HNB has Banking, R M P Dayawansa new scheme is that it will be for the development of the rural recently launched a new loan Assistant General Manager – offered at a very low interest rate economy. The bank’s wide network scheme “Ran Govi Saviya” target- Specialized Financial Services and of 8% p.a. thus making it very enter into partnership of customer centres especially in ing the agricultural sector of the Senior Bank Officials, Farming popular amongst the farming com- the outstations have disbursed nation. “Ran Govi Saviya” was Community in and around the munity. Softlogic Finance surpasses Rs. 5bn in assets Softlogic Finance is continuing to forge ahead to a prominent position, that would stand port its expansion plans with a rights issue to passing the landmark of LKR 2 billion deposit lia- with its aggressive expansion strategy, recording amongst the top 5 companies in the financial raise LKR 535Mn. “We are aiming to increase bilities, in May 2011. The company also recorded its total assets at LKR 5.4Bn as at 31st May services sector within the next 3 years,” stated our stated capital for the year from the current a threefold increase in its other borrowings main- 2011.