Union Bank modernised its credit card business by implementing BPC SmartVista, a unified payment platform designed to provide greater control over product development, integrations, data management and customer experience in Sri Lanka.
The deployment enabled Union Bank to gain operational control and improve its ability to deliver secure and enhanced credit card services. The new platform also provided a highly configurable environment that could be adapted to changing business requirements while supporting faster product innovation.
Nisala Kodippili, Chief Technology Officer, Union Bank, said, โWith the new platform in place, the bank now has a highly configurable environment that can be adapted to evolving business requirements without lengthy development cycles.โ
He further added, โA broad set of open APIs also simplifies integration with core banking, digital channels and surrounding systems, providing the capabilities needed to deliver more innovative features and services to customers. For customers, the upgrade enables innovative and personalised card products, stronger transaction security, integrated fraud protection and the faster introduction of new services.โ
The modernisation programme enabled the bank to integrate more effectively with core banking systems and digital channels through open APIs while strengthening transaction security and fraud protection capabilities. The platform also supported the delivery of personalised card products and faster rollout of new customer services.
Malinda Perera, Vice President โ Head of Cards & Retail Products, Union Bank, said, โFor Union Bank, the project offers greater operational control, reduced third-party dependency and more flexibility to respond to market demand. With the new platform now operational, Union Bank expects its credit card portfolio to grow substantially year-on-year over the coming years. Building a stronger credit card business required us to take greater ownership of the technology and data behind it.โ
The implementation reduced reliance on third-party providers and created a stronger foundation for future growth in its cards business. Union Bank said it expects its credit card portfolio to expand significantly in the coming years.
Subash Chandra Bowse, Country Director Sri Lanka, Bangladesh and the Maldives, BPC Banking Technologies, said,โSri Lankaโs banking market is evolving quickly, and institutions need payment infrastructure that supports both control and innovation. Union Bank has taken an important step in modernising its credit card business, and we are proud to support the bank with SmartVista platform that helps it launch new propositions faster, strengthen security and scale for long-term growth.โ
Looking ahead, Union Bank planned to further expand its card issuing capabilities, widen international scheme support and introduce new customer propositions as it continued to grow its credit card business.
Source : IBS intelligence
