Hatton National Bank PLC (HNB), a prominent private bank in Sri Lanka, and Nucleus Software (BSE: 531209, NSE: NUCLEUS), a global leader in lending and transaction banking solutions, recently marked the fifth anniversary of their collaboration at a gala event held at ITC Ratnadipa in Colombo.
This milestone signifies five years since HNB adopted FinnAxia®, the flagship transaction banking platform from Nucleus Software, aimed at enhancing its corporate banking framework and advancing the bank’s long-term digital transformation strategy.
Since the inception of their partnership in 2021, FinnAxia® has been instrumental in bolstering HNB’s transaction banking functions, delivering a streamlined digital interface for various services including vendor payments, payroll processing, bill payments, receivables, API banking, host-to-host connectivity, and cross-border transactions. Additionally, it provides robust management information systems (MIS) and a comprehensive view of customer relationships, incorporating essential details such as CASA statements, loan information, and term deposits. Crucially, it has empowered HNB to adapt swiftly to changing customer demands, expedite service delivery, and expand its transaction banking operations within a digital-centric landscape.
On average, more than 3,000 users engage with FinnAxia® daily, underscoring its reliability, widespread adoption, and significant value to clients.
The platform supports seamless processing through LankaPay payment networks, including CEFT, SLIPS, and RTGS, while also enabling LPOPP electronic bill payments for ASYCUDA, EPF, and SLPA.
With the introduction of the ETF, HNB and its esteemed corporate clients now enjoy an extensive range of transaction banking services consolidated into a single platform, enhancing convenience, flexibility, and the overall banking experience.
Reflecting on this achievement, Damith Pallewatte, Managing Director and CEO of HNB, stated, “During these five years, our alliance with Nucleus Software has reinforced HNB’s leadership in transaction banking in Sri Lanka. FinnAxia® has allowed us to provide a modern, digital-first experience for our corporate clientele while improving operational agility, fostering growth, and driving innovation. As customer expectations evolve, we are dedicated to investing in capabilities that generate long-term value for our clients and the broader economy.”
Parag Bhise, CEO and Executive Director of Nucleus Software, remarked, “We are delighted to commemorate this milestone with HNB. The success of our partnership showcases a united vision, effective execution, and a commitment to delivering substantial benefits for customers. Over the last five years, HNB has exemplified how the right blend of technology, leadership, and flexibility can revolutionize transaction banking. We look forward to continuing this journey and assisting HNB in uncovering new avenues for growth, innovation, and customer satisfaction.”
The project implementation received recognition with the Silver Award for Best Managed Project at the Project Management Excellence Awards 2023, highlighting the scope, complexity, and impact of the transformation.
The celebratory event gathered leaders from both organizations to commemorate a partnership founded on trust, collaboration, and a mutual dedication to innovation. As HNB and Nucleus Software celebrate this significant milestone, both entities reaffirm their commitment to advancing the next phase of transaction banking transformation, characterized by agility, customer focus, operational excellence, and sustainable growth.
Photo caption – Hatton National Bank and Nucleus Software celebrate five years of successful partnership (L to R): Anurag Mantri (COO & Country Head Singapore, Nucleus Software), Rajive Dissanayake (EVP/Head of SME & Micro Finance, HNB), Vishnu R. Dusad (Co-founder & Managing Director, Nucleus Software), Damith Pallewatte (MD & CEO, HNB), Sanjay Wijemanne (COO, HNB), Dr. Apurva Chamaria (CBO, Nucleus Software), & Chandima Cooray (Chief Innovation Officer, HNB).
Financial Chronicle Biz English | Sri Lanka Business News.
