IBM Marks 50 Years of Business in Sri Lanka and Eyes Further Expansion

Continues to support transformation of Sri Lanka’s high growth sectors and regions

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Colombo, Sri Lanka - 29 May 2012: IBM (NYSE: IBM) this week marked 50 years of business in Sri Lanka and pledged to expand its operations in line with the country’s continued rapid economic transformation.

IBM has an established base in Sri Lanka’s capital Colombo, but is experiencing increasing demand for its solutions and services in other high growth cities like Hambantota in the south of the country.

"IBM has been doing business in Sri Lanka since 1962. In recent years we have experienced increased demand for our solutions and services as businesses and government organizations across the country turn to IT to transform operations and increase global competitiveness," said  Shanker Annaswamy, Regional General Manager, IBM India/South Asia.  "IBM is committed to the success of its clients in Sri Lanka and has been instrumental in providing world-class technology to the banking and financial services sector. Our solution for Hatton National Bank will ensure that they stay ahead of competition and deliver services with utmost efficiency to their customers."

IBM is working with clients across many of Sri Lanka’s key growth sectors such as banking and telecommunications. For example, Sri Lanka’s Hatton National Bank (HNB), a leading private sector bank, has turned to IBM and local business partner BPC Banking Technologies Group.

The new solution, based on IBM’s new SmartVista technology, will help integrate HNB’s banking services across multiple channels including ATMs, mobile banking, telephone banking, kiosks, chips cards, and internet. With the new solution, HNB will be able to increase the speed and reliability of transaction processing and drive innovative customer centric campaigns and promotions. IBM will also be responsible for the maintenance and support of the solution over the next five years.

HNB is at the forefront of using advanced technologies to automate processes and is part of a movement that IBM refers to as Smarter Banking which uses intelligence to drive operational efficiencies, customer centricity and better risk management.

“With growing competition in the market, technology helps us to differentiate and offer innovative products and services to our customers,” said said Rajendra Theagarajah, Managing Director and CEO, Hatton National Bank. “We have been engaging IBM on a number of strategic initiatives and have obtained solutions across hardware, software and services.”

One of the industries growing in parallel to banking in Sri Lanka is the telecommunications sector where IBM is working with a number of leading players like Bharti Airtel Lanka. IBM also has a history of working with public sector clients in the country like Sri Lanka Insurance, the Department of Immigration & Emigration and the Department of Census & Statistics.

IBM is working with over 15 Business Partners in Sri Lanka to increase scale and customize its solutions in line with local needs.

India and South Asia is a focus region for IBM’s geographic expansion initiative through which it is building out its presence in the fastest growing markets in the world.

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