The LOLC Group claimed top honours once again at the LankaPayTechnnovation Awards 2018 organised by LankaClear (Pvt) Ltd. for the second consecutive year, to recognise and appreciate the vanguards in payment technology.
LOLC’s flagship finance entity and Sri Lanka’s largest Non-Banking Financial Institution (NBFI), LOLC Finance PLC which continued their winning streak for the second year was crowned as the overall winner for Excellence in Interbank Payments in the Financial Institutions Category, while Commercial Leasing & Finance Company PLC (CLC), a subsidiary of the LOLC Group which is renowned as a trusted brand synonymous with stability and dependability, bagged the Runner-up Award in the same category.
LOLC Finance also went on to secure the Award for the Best Financial Institution of the Year for Customer Convenience while its sister company, CLC clinched the Runner-up Award. LOLC Finance took home the third award for the night when it won the Merit Award for the Best Application for Retail Payments.
Meanwhile, iPay –the revolutionary payment platform powered by LOLC was crowned as the Winner of the Most Popular Electronic Payment Product and the Runner-up of the Best Application for Retail Payments. With LOLC Finance operating as its merchant acquiring partner, iPay is acclaimed internationally as a mobile app that has been developed on advanced software architecture. The app includes a host of features designed to securely integrate the customer and merchant ecosystem, making it a true Fintech (Financial Technology) application beyond just payments.
LOLC Group Managing Director/CEO, Kapila Jayawardena expressing his thoughts about the Group’s achievements at the second LankaPayTechnnovation Awards, said, “In a world of rapid change, especially technological advances, the LOLC Group has not simply adapted but thrived. LOLC’s Information and Communication Technology (ICT) strategy has become more than just a business enabler to us. Through our ICT strategy we are geared to promote faster adoption of Fintech solutions that will allow our company to be agile and flexible to the market and the ever-evolving customer needs.”
“We as a leading conglomerate in the forefront of innovation and with a global presence, will continue on our digital transformation journey offering customer centric solutions on par with international standards,” he said.
Conrad Dias, the Chief Information Officer of the LOLC Group said, “We have witnessed a remarkable increase in the number of online transactions in just a span of one year. This growth collectively demonstrates that our apps - LOLC Real Time, CLC Online and iPay which facilitate real time, secure transactions are well accepted by both customers and merchants. Over the past year, we took steps to introduce many new value added features to our applications such as trilingual support. Whilst offering new features both digital and physical elements of the Group’s business model was combined to introduce a phy-gital customer service experience. Whilst taking great strides in the area of Fintech in a short span of time, we continue to ensure that all our services meet the highest levels of information security standards”.
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