Merchant Bank of Sri Lanka Drives Growth with Deployment of Core Banking Platform from Fiserv
Implementation positions MBSL for continued success in a competitive market
Singapore and Brookfield, Wis.,24 May 2018 – Fiserv, Inc. (NASDAQ: FISV), a leading global provider of financial services technology solutions, today announced that Merchant Bank of Sri Lanka & Finance PLC (MBSL) has furthered its ongoing business transformation with the deployment of the Signature® core account processing platform and front-end teller systems from Fiserv. The company merged with two subsidiaries in 2015, growing from 30 to 48 branches and adding more than 100,000 accounts, and the new technology is enabling MBSL to provide an excellent experience across this larger customer base.
According to MBSL, the company chose Fiserv because they were looking for a partner that provides not only technology expertise, but a high level of commitment with 24/7 support, which was key to a successful implementation. Customers will now benefit from enhanced and efficient account processing and customer service as a result of this deployment.
One of Sri Lanka’s leading financial institutions, MBSL is leveraging technology to modernize its infrastructure and transform the financial experience for customers in today’s increasingly competitive financial environment. The Signature solution provides a flexible, scalable, and stable platform that can support MBSL’s fast-growing branch and service network and customer base.
This newly implemented solution is also improving the work-life balance of MBSL’s employees. With the Signature solution, account processing is streamlined, reducing the need for overtime work and giving employees more time to spend with their families, while delivering greater efficiency for the company.
The successful deployment of Signature has also enhanced MBSL’s capabilities as it continues to broaden its products and services offerings and deliver what customers want in the new digital economy.
“Consumers want easy and reliable access to banking information and services across a variety of devices,” said Marc Mathenz, managing director, Asia Pacific, Fiserv. “Proven technology solutions that allow financial institutions to provide the interactivity their customers expect are key to maintaining a competitive edge. Choosing the right technology allows financial institutions like MBSL to take advantage of the substantial growth opportunities in the region and the world.”
In the U.S., Fiserv is the market leader in account processing services. More than one-third of the country’s financial institutions rely on Fiserv for account processing solutions and expertise. Across Asia Pacific, Fiserv solutions are used by nearly 70 clients in 13 countries, including some of the largest banks in Australia, Thailand, and Indonesia. Fiserv provides a range of solutions to clients through its more than 4,000 associates in the region including offices in Sydney and Singapore. Worldwide, Fiserv supports more than 12,000 clients in over 80 countries with approximately 24,000 associates and moves more than $75 trillion each year on behalf of financial institutions, billers and consumers.
In a world moving faster than ever before, Fiserv helps clients deliver solutions in step with the way people live and work today – financial services at the speed of life. Learn more at fiserv.com.
- Signature from Fiserv -http://fisv.co/2aePkYr
- Merchant Bank of Sri Lanka & Finance PLC - http://www.mbslbank.com/
About Merchant Bank of Sri Lanka & Finance PLC
Established in 1982, the Merchant Bank of Sri Lanka & Finance PLC was quoted as a public listed company on the Colombo Stock Exchange in 1991. At present, MBSL, which functions as a highly successful leading pioneer in Sri Lanka's investment and merchant banking sector, offer customers a wide range of products such as leasing facilities, corporate and retail credit to small and medium scale industries and business enterprises, pawning services and property sales, corporate advisory and capital market, stock market brokerage, savings and children's accounts and fixed deposits. With a 74 percent stake, the biggest shareholder of MBSL is the Bank of Ceylon, the giant state-run banking institution in the country. MBSL has 48 branches and business places across the country.
Fiserv, Inc. (NASDAQ: FISV) enables clients worldwide to create and deliver financial services experiences in step with the way people live and work today. For more than 30 years, Fiserv has been a trusted leader in financial services technology, helping clients achieve best-in-class results by driving quality and innovation in payments, processing services, risk and compliance, customer and channel management, and insights and optimization. Fiserv is a member of the FORTUNE® 500 and has been named among the FORTUNE Magazine World's Most Admired Companies® for five consecutive years, recognized for strength of business model and innovation leadership. For more information, visit fiserv.com.