ECONOMYNEXT – Pan Asia Banking Corporation PLC has teamed up with global tech giant IBM to modernize its digital infrastructure, aiming to deliver faster, more secure and customer-centric banking services across Sri Lanka, the bank said.
The collaboration, implemented with IBM’s local partner South Asian Technologies (SAT), is expected to mark a significant upgrade in Pan Asia Bank’s operational backbone.
The modernization includes the deployment of IBM Power10 servers, IBM FlashSystem storage, and IBM Instana for AI-powered, full-stack application performance monitoring.
According to the bank, the new system has already delivered tangible improvements including a 40 percent increase in application performance, 50 percent faster deployment of new services, and reduced operational costs through enhanced system uptime.
“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,” said Kanchana Devasurendra, Chief Information Officer at Pan Asia Bank.
“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.”
The upgrade also boosts the bank’s cloud readiness and enables real-time visibility into application performance which are key to maintaining 24/7 banking services in a fast-changing digital economy.
Sandip Patel, Managing Director of IBM India and South Asia, highlighted the broader impact of the partnership.
“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,” Patel said.
“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 the country’s broader economic growth.”
IBM said it remains committed to developing tailored solutions for the Sri Lankan market, focusing on efficiency, sustainability, and long-term growth across industries.
PABC, with this transformation, is expected to position itself as a key player in the island’s evolving financial services landscape, while reaffirming its commitment to leveraging cutting-edge technology to enhance customer experience. (Colombo/May 21/2025)
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