LankaPayTechnnovation Awards 2017 kicks off

LankaClear (Pvt) Ltd, the operator of LankaPay – Sri Lanka’s National Payment Network, in a ground breaking initiative has organized LankaPayTechnnovation Awards 2017 – Sri Lanka’s first and the only payment technology innovation awards. Scheduled to be held on 20^th June 2017 at the Balmoral, Kingsbury Hotel under the aegis of Dr. IndrajithCoomaraswamy, Governor of the Central Bank of Sri Lanka as the Chief Guest, the event will also feature the renowned speaker Mr. SopnenduMohanty, Chief FinTech Officer of the Monetary Authority of Singapore as the keynote speaker.

In a quest to drive financial inclusivity in the country by enhancing the efficiency of the country’s national payment networkand propelthe use of electronic transactions, the Awards kicked off with a press conference held on 1^st June 2017 at Hilton Colombo Residencies. General Manager/CEO of LankaClear (Pvt) Ltd, Mr. Channa de Silva; Chairman of the Panel of Judges Technnovation 2017 – Mr. Wasantha Deshapriya; and Director, LankaClear (Pvt) Ltd and Secretary General of the Sri Lanka Banks’ Association,Mr. Upali De Silva addressed the gathering.

LankaPayTechnnovation Awards will recognize member banks and non-banking financial institutions who have been steadfast to the cause of using innovative technology to promote digital transactionsand exceled in this endeavour. Initiated with the objective of reducing the cost of financial transactions by promoting the use of country’s national payment infrastructure,LankaPayTechnnovation Awardswould take into account the interbank payments carried out during the period from 1^st April 2016 to 31^st March 2017 towards the awards.

All banks and non-banking financial institutions who are members of the LankaPay network and operating under the supervision of Central Bankare eligible for the awards. They would compete for 21 awards under 8 categoriesand it is expected to be a keenly contested affair. The award categories include, the Bank of the Year for Customer Convenience; the Best Common ATM Acquirer of the Year; Best Bank for Seamless Back-end Operations; Bank of the Year for Financial Inclusivity; Most Innovative Bank of the Year; Financial Institution of the Year for Customer Convenience; Most Popular Electronic Payment Product and Best Mobile Payment Application of the Year. Overall Winner for Excellence in Interbank Payments would also be selected to be recognized as the best among the best.

The initial marking will be taking place based on the performance of individual banks and non-banking financial institutions against a set criteria defined and communicated at the commencement of the competition period; and at the second phase of marking, the shortlisted winners are expected to present their case to the Panel of Judges during the evaluation session scheduled on 10^th June 2017 at Jaic Hilton. This is an initiativeaptly supported by the Central Bank while the independent Panel of Judges is chaired by Mr. Wasantha Deshapriya, Secretary to the Ministry of Telecommunication and Digital Infrastructure. The other members of the panel of judges are Mr. Asite D. B. Talwatte – Past President, Institute of Chartered Accountants of Sri Lanka and former Country managing  Partner of E&Y;; Mr. Rajeeva Bandaranaike – Chief Executive Officer, Colombo Stock Exchange; Mr. Samantha Ranatunga – Chairman, Ceylon Chamber of Commerce; Mr. Lasantha Wickremasinghe – President, Institute of Chartered Accountants of Sri Lanka and Partner BR De Silva; Mr. Manil Jayasinghe – Partner, E&Y; and Mr. Dulith Herath – Founder and Chairman of Kapruka.com.