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Merchant Bank of Sri Lanka and Finance implements new core banking and front-end teller systems

Adrian M. Reodique | Aug. 23, 2016
A move to streamline their operations and simplify customer management support.

Merchant Bank of Sri Lanka & Finance (MBSL) has deployed Fiserv's Signature core account processing platform and front-end Teller Systems to streamline their operations and simplify customer management support. 

Last year, MBSL merged with its two subsidiaries, the MBSL Savings Bank Limited and MCSL Financial Services. This caused its branch network to grow from 30 to 49 with an increase to 100,000 customer accounts.

With Fiserv's front-end teller solution, MBSL employees will now be able to gain a streamlined view of customers. On the back-end, the bank will have a real-time online transaction processing and end-of-day processes to save time on doing manual works.

"As our network and the number of customers we serve on a daily basis grew, we realised we needed a new core infrastructure that could provide the stability, flexibility and scalability we require, while also bringing down the cost of supporting multiple systems," said T. Mutugala, CEO of MBSL, in a press release.

"We sought a reliable technology partner to help us grow our retail financial business and continue to provide excellent service and meet customer needs. Fiserv offered everything we needed with a core banking platform that is proven locally in Sri Lanka and across the globe," Mutugala added. 


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