DFCC Bank and HNB Life Sign up to Simplify Premium Payments and Speed Up Reconciliation

DFCC Bank PLC and HNB Life PLC have signed a Memorandum of Understanding to make insurance premium payments more convenient for HNB Life policyholders and enable faster identification and reconciliation of collections.

The solution combines a dedicated HNB Life biller module, available through DFCC Bank’s branch network and digital channels, with direct system integration that provides HNB Life with real-time payment notifications.

HNB Life policyholders can pay their premiums at any DFCC Bank branch islandwide or through the Bank’s digital channels, including DFCC iConnect, the DFCC ONE app and DFCC ONE Online. The combination of physical and digital channels gives customers greater flexibility to choose the payment method most convenient to them.

Direct integration between HNB Life’s systems and DFCC Bank’s core banking system enables HNB Life to receive payment information in real time. This allows payments to be identified and reconciled more quickly while improving visibility across the collection process.

Shamindra Marcelline, Director and Deputy Chief Executive Officer of DFCC Bank, said: “Good transaction banking makes complex processes simpler for everyone involved. Through this partnership, HNB Life policyholders gain more convenient ways to pay, while HNB Life gains immediate visibility of collections for faster identification and reconciliation. It is a practical solution that improves both the customer experience and operational efficiency.”

Lasitha Wimalaratne, Executive Director and Chief Executive Officer of HNB Life PLC, said: “A reliable and convenient premium payment process is an important part of the service we provide to our policyholders. This integration gives customers greater choice while helping our teams process payment information more quickly and accurately. It will enable us to deliver a more connected and responsive experience.”

The partnership demonstrates how tailored transaction banking solutions can connect customer-facing payment channels with back-office financial processes, reducing manual intervention and improving the speed and accuracy of premium collection management.

Shamindra Marcelline, Deputy Chief Executive Officer, DFCC Bank PLC exchanging the MOU with Lasitha Wimalaratne, Executive Director/Chief Executive Officer, HNB Life PLC.

Also in the picture from left to right: Ruwan Rodrigo, Executive Vice President/Chief Financial Officer, HNB Life PLC, Suneth Jayamanne, Executive Vice President/Chief Information Officer, HNB Life PLC, Ishani Palliyaguru, Senior Vice President, Head of Wholesale Banking & Trade, DFCC Bank PLC, Manula Ekanayake, Assistant Vice President, Payments & Cash Management DFCC Bank PLC.

About DFCC Bank

DFCC Bank PLC, established in 1955 and listed on the Colombo Stock Exchange since 1956, is one of Sri Lanka’s leading financial institutions. Regulated by the Central Bank of Sri Lanka and rated A (lka) by Fitch Ratings, the Bank offers a comprehensive portfolio of retail, corporate, and SME banking services, along with treasury, investment, and trade finance solutions.

With customer centricity and sustainable innovation at its core, DFCC Bank delivers seamless and secure banking experiences, which include digital platforms like DFCC MySpace, and through a network of 133 branches and access to over 6,000 ATMs via the LankaPay network.

A recognised leader in sustainable finance and renewable energy initiatives, DFCC Bank is committed to reducing environmental impact and fostering long-term economic resilience.