Merchant Bank of Sri Lanka & Finance PLC (MBSL) recently signed an agreement with Affiniti Innovations to implement the Affiniti Delinquency Management System to streamline, automate and improve the receivable management functions of MBSL.
Dammika Hapuhinna, Chief Executive Officer of MBSL said, “As a long-standing Institution in the market, MBSL has substantial loan portfolios. Therefore, the importance of managing the quality, profitability and risk is vital. In this context, using technology is mandatory. Being proactive is crucial to safeguard the interests of all stakeholders and a time-tested delinquency management system can certainly assist banks and financial institutions to manage receivables more effectively”.
Heshana Kuruppu, Chairman of Affiniti Innovations mentioned that both the DMS and CRM solutions are being continuously improved based on the market and technology trends, and he is very happy with the passion, dedication and the professionalism demonstrated by his team. Affiniti Innovation’s Director and CTO Sachith Fernandopulle said, “We are in the process of incorporating machine learning and predictive analytics to make Affiniti a world class solution. Positive bucket movements and improved collection ratios shown by our clients in banking & Finance provide ample testimonies for the quality of Affiniti DMS and its effectiveness. Mr.ThilinaKumarapathirana, Director/CEO of Affiniti Innovations thanked MBSL for trusting Affiniti DMS and ensured timely delivery of the system. A subsidiary of Bank of Ceylon, MBSL is a leading non-banking financial institution in Sri Lanka with a proven track record of 40 years, serving all customer segments in the society. With 48 branches including service centers scatteredthroughout the country, MBSL plays a dominant role in empowering individuals, entrepreneurs and enterprises of all sizes and ages with their short-term and long-term financial needs.
Affiniti Innovations is a joint venture between David Peiris Holdings Ltd and Avonet Technologies created with the objective of taking the Affiniti solutions to global markets. Affiniti Delinquency Management System and Customer Relationship Management solution are used by many large corporate firms in Sri Lanka. Some of their valued clients include Dialog Axiata Group, Sampath Bank PLC, LB Finance, Vallibel Finance, HNB Finance, HDFC Bank and Pan Asia Bank. The company has active open innovation initiatives with several leading universities.
With AI based features, Affiniti solutions will soon be ready to compete in regional markets.