IBM (NYSE: IBM) announces its collaboration with Pan Asia Banking Corporation PLC of Sri Lanka to modernize the bank’s digital infrastructure and deliver faster, more secure banking services across Sri Lanka.
Banks in Sri Lanka are undergoing major transformations to meet the needs of new and existing customers seeking personalized product experiences, transparency, and security, all in real time. To support future growth and 24/7 banking operations, Pan Asia Bank upgraded its technology infrastructure with advanced servers, AI-powered observability for application monitoring and scalable data storage. These helped the bank enhance cloud readiness and provide real-time visibility into application performance— reducing downtime and improving customer experience.
Working with its business partner South Asian Technologies (SAT), IBM deployed the latest AI and hybrid cloud solutions including IBM Power10 servers, IBM FlashSystem storage and IBM Instana for real-time, full-stack observability for application performance monitoring.
The transformation has already delivered strong results:
• 40% boost in application performance
• 50% faster deployment of new services
• Improved uptime and lowered operational costs
With this modernization, Pan Asia Bank is better positioned to meet the evolving needs of Sri Lankan customers and drive digital innovation in the banking sector.
“As part of our commitment to deliver impactful, innovative, and responsible banking solutions to our customers and stakeholders, refreshing our technology systems that power our services was critical,” said Kanchana Devasurendra, Chief Information Officer, Pan Asia Bank. “With their proven track record of helping banking institutions around the world digitally transform, it was a natural choice for us to adopt these solutions from IBM. We believe that this transformation will help us strengthen our customer relationships through better service delivery and accelerate our innovation capability.”
Speaking on the collaboration, Sandip Patel, Managing Director, IBM India & South Asia said, “Sri Lanka presents tremendous opportunities for digital transformation, and we’re proud to collaborate with forward-thinking institutions like Pan Asia Bank in harnessing the power of AI and hybrid cloud. By combining the right system, software, and services with the local expertise of our ecosystem partners, we’re helping Sri Lankan enterprises tackle complex challenges, unlock new possibilities, and drive measurable business outcomes — ultimately contributing to country’s broader economic growth.”
Recognizing the unique needs of the Sri Lankan market, IBM continues to foster strategic collaborations and co-create tailored solutions that help local businesses drive efficiency, boost productivity, and achieve sustainable growth across industries.
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Photo Caption:
Image 1: Kanchana Devasurendra, Chief Information Officer, Pan Asia Bank (Left) with Sandip Patel, Managing Director, IBM India & South Asia (Right).
About Pan Asia Bank
Pan Asia Bank, the Truly Sri Lankan Bank, is one of the leading financial institutions in Sri Lanka, known for delivering world-class products and services. As a pioneer in Sri Lanka’s banking industry, Pan Asia Bank has many firsts, to its credit across technology platforms, unique products and superlative service. The Bank has developed a unique reputation and culture of being ambitious, results-oriented, respectful and caring, and supportive of traditional values - a true testament of the brand’s positioning as a Truly Sri Lankan Bank. Pan Asia Banks’ spirit of innovation and growth coupled with a prudent approach to growth and risk has served it well in the most challenging years in the banking industry.
Pan Asia Bank’s prosperity is linked inextricably to the communities it serves, helping them to face challenges with confidence through financing sustainable projects and conducting meaningful Corporate Social Responsibility projects to uplift communities.
About IBM
IBM is a leading provider of global hybrid cloud and AI, and consulting expertise. We help clients in more than 175 countries capitalize on insights from their data, streamline business processes, reduce costs, and gain a competitive edge in their industries. Thousands of governments and corporate entities in critical infrastructure areas such as financial services, telecommunications and healthcare rely on IBM's hybrid cloud platform and Red Hat OpenShift to affect their digital transformations quickly, efficiently, and securely. IBM's breakthrough innovations in AI, quantum computing, industry-specific cloud solutions and consulting deliver open and flexible options to our clients. All of this is backed by IBM's long-standing commitment to trust, transparency, responsibility, inclusivity, and service. Visit www.ibm.com for more information.
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Binali
Binali
May 20 2025
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