DEFINING THE NEW DIGITAL – CORPORATE ERA – DEPUTY CEO AT LOLC TECHNOLOGIES SERVICES LTD, PRASANNA SIRIWARDENA

Prasanna Siriwardena, the current Deputy CEO at LOLC Technologies Services Ltd., is a scholar from Keele University. Possessing a strong interest in technology, Prasanna pursued his education in IT, and took up his first role as a Software Support Executive at EWIS in 1996 and Network Manager at KPMG, back in 1999. After building concrete ground in managing and organizing the company’s network system, he subsequently joined Lanka ORIX Leasing Company PLC as an Information Security Specialist for a short period of 9 months, before being called back to KMPG Kuwait as an IT Manager back in 2006.

Enduring the importance of his profession, Prasanna accumulated a significant number of overseas experiences, graduating towards the peak of his career. Working in astounding organizations such as the KPMG Netherlands, and National IT Security Officer (NITSO), Kuwait, Prasanna channels his experience and knowledge towards improvising his sound knowledge in technology. Being a professional who has worked in senior sectors within the trade, Prasanna has tackled operations in various multinational companies. For instance, in 2012, he was promoted to the Unit Head of Information Security at the International Banking Group in the National Bank of Kuwait. Furthermore, Prasanna was given the opportunity to lead IBG in more than ten nations reflecting on his outstanding performance and commitment to cyber security. Other enhancing points down Prasanna’s career line have been his participation and presentation in the United Nations Office of Counter- Terrorism at United Nations University in Japan, the Oracle Open World Conference in the US, and his contribution to the judging panel at FITIS. Continuing to condense his professional years with cutting-edge areas in the IT industry, Prasanna takes roles as the CIO of LOLC Holdings and the Deputy CEO of LOLC Technology Services Limited. Meanwhile, he also serves on the Board of Directors in LOLC Technology.

Holding over 20+ years of enriched experience, Prasanna understands the benefits of innovations implemented in the country. Over the last decade, the LOLC`s Finance industry has shifted its focus to foreign activities, with expansion in the Southeast Asian and African markets. It has recently expanded its operations throughout the Central Asian region. LOLC Group currently operates in about 20 countries throughout all three areas; “there will be a dozen more countries added to this list in the Central Asian and African region within a year”.

LOLC Group’s IT ambition to be an incomparable technology supplier with the motto “Cloud first, Mobile enabled” was doubtlessly a significant challenge in each country, with its own legislative and infrastructure problems. Therefore, LOLC Technology Services updates its technology solutions on a regular basis in order to stay current with the latest IT systems and architecture. FusionX, which will be an open banking standard financial platform, is now being rolled out for a few nations.

“LOLC Technology Services Ltd is proud to be the centralized one-stop IT service provider to all its group overseas entities which include Fusion (core banking system) and Oracle E-Business Suite implementation services, Business Intelligence, SMART Mobile Application system implementation, Information Security, and compliance services, Network Operations and Data Centre Services, Database Services, IT Operations, and OASYS^ Service Desk System implementation”, adds Prasanna.

With a specialized team for international IT operations, the focus was shifted to Information Systems, Application Support, and a 24×7 support team to fix issues. Fusion is now used as the core banking application by entities in four countries, with two more in the process of migration. “Group and Individual Loan, Leasing, Asset-Backed Loan, Salary Backed Loan, Fixed Deposits and Savings modules of Fusion system are being used by these entities” Prasanna states.

Further adding to this, Prasanna explains, “Apart from basic system implementation, LOLC Technology Services provides digital channels and platforms to enhance the business efficiency and effectiveness such as Robotic Process Automation, Document Management System integration, Digital Loan Processing, Agent Banking, Data Analytics and Field Force Automation”. These technological improvements have lowered loan processing time by 90%, leading to enhanced business for the LOLC group.

Concluding his account, Prasanna states “Technology is best when it brings people together. It has become appallingly obvious that our technology has exceeded our humanity. I believe that in LOLC, our policies are sharpened over the due of time, prospering our qualities through the unrivalled human support. And I, as the current Deputy CEO at LOLC Technologies Services Ltd., would give my utmost dedicated attention and support towards this notion!”

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