DFCCiConnect revolutionizes Payment & Cash Management Solutions for Sri Lankan Corporates
June 30, 2021
With the digitization of processes spurred by the COVID-19 pandemic, customers and corporates alike are constantly looking for faster, more convenient ways to obtain remote financial services.
As such, DFCC iConnect has been making day-to-day financial operations for Sri Lankan corporates more efficient and convenient since 2018. Awarded the titles of ‘Market Leader in Cash Management Sri Lanka (Domestic Banks)’ and ‘Best for Services in Cash Management – Sri Lanka’ by the recently concluded Asiamoney Awards, DFCC iConnect sets the benchmark for corporate banking in Sri Lanka. DFCC iConnect has been servicing key businesses that contribute towards the local economy for over fouryears now, including Orel Corporation (Pvt) Ltd. and Gamma Pizzakraft Lanka (Pvt) Ltd.
Orel Corporation is an adaptive manufacturing e-commerce led enterprise in Industry 4.0 with expertise in Building Infrastructure, Digital Infrastructure, Artificial Intelligence, Digital Commerce, Healthcare, Education, IoT & Transportation. As a third generation, family-owned multinational company, Orel operates in 28 countries, across 6 continents and has an ambition to grow by 100 fold in the coming years. Orel maintains a healthy relationship with DFCC Bank as a priority customer and opted to onboard the iConnect app. Speaking on their experience with DFCC iConnect is Dinesh Karunaratne, Group Finance Manager, “We received multiple benefits from onboarding the iConnect platform, it has many automated services that aided in conveniently taking care of our finances, ensuring that we don’t allocate extra time or personnel to the matter. The platformhelps us reduce unnecessary documentation, like moving away frommanual chequeissuing and there is a significant improvement in our financial control aspects. Today, we have great confidence in the system that improves our functions effectively and efficiently, and find it quite user-friendly as well.”
Chief Financial Officer of Gamma Pizzakraft Lanka, Sarath Kumara Singhapurage, also testifies to the convenience of using DFCC iConnect in his daily financial operations. Gamma Pizzakraft Lanka is currently the sole franchisee for Pizza Hut and Taco Bell in Sri Lanka. The company owns and operates a chain of over 70 outlets island wide, and have been in business for over 25 years. Gamma Pizzakraft Lanka deals with DFCC Bank for both term loans and regular corporate banking. DFCC was the first bank to grant loans to Gamma for its store expansion plan in its initial stages of operation. Following this, DFCC Bank financed several major projects by Gamma and continues to maintain a healthy relationship with the company.
Gamma Pizzakraft started using DFCC iConnect close to a year ago and has experienced a host of benefits throughthis platformto date. The company utilized most functionality in the system including host to host payments, direct file uploading, salary payments, pay order advises and so on. Mr. Singhapurage elaborates on his experience with theplatform, “The system facilitates user level delegation of authority with strong securities which enables us to manage our time more effectively and efficiently. The salary processing function of iConnect is exceptionally good, as is its help in our reconciliation processes. The platform also greatly aids in negating the hassle of cheque collection and realization time for our vendors. The cash management team, led by a great relationship manager, delivers an excellent service and we’re glad to have DFCC Bank as our corporate banking partner.”
In hopes of benefitting more and more corporates across the island, DFCC Bank continues torevolutionize Payment & Cash Management Solutions, aptly working towards becoming the most customer-centric and digitally enabled bank by the year 2025.
DFCC Bank is a full-service Commercial Bank with a legacy of 65 years as one of Sri Lanka’s foremost financial conglomerates offers a gamut of commercial and development banking services. The Bank was ranked amongst Business Today’s Top 30 Corporates in Sri Lanka and was also positioned amongst Brand Finance’s Top 100 Most Valuable Brands, 2021. DFCC Bank is rated [SL] AA- Stable by ICRA Lanka Limited and A+ (lka) Stable by Fitch Ratings Lanka Limited.