Softlogic Finance(www. softlogicfinance.lk) – one of the fastest growing finance houses, a subsidiary of Softlogic Group in Sri Lanka, entered in to a software agreement with OpenArc (www.openarc.lk), a market leader in the banking and finance software sector to implement “SkyBank Banking & Finance” software solution to fully computerize the company’s operations.
OpenArc was selected through a comprehensive evaluation process conducted by Ernst & Young. The competitive advantage demonstrated by OpenArc was in the areas of software that could handle large volumes of data transactions, product roadmap supporting the future growth of the organization as well as the industry and the credibility of being a 22 year old company in the banking &finance industry delivering large scale projects in the Banks and Finance companies.
CEO of Softlogic Finance, Nalin Wijekoon said “Softlogic Finance is known to provide its customers with innovative banking solutions, and the introduction of “SkyBank” software shows the company’s efforts to provide banking services to its customers on a user-friendly electronic platform that can be accessed from any point. The software will provide all its virtual customers with vital services provided by the company, such as Savings Account transactions and monitoring, a mobile payment gateway and an SMS Alert engine which notifies its customers regarding any transactions which takes place through their account. We hope that through this venture, our customers will be provided ease in terms of contact with us, through this software.”
Daya Hettiarachchi CEO of OpenArc stated that the “SkyBank”, the browser based banking software solution, is a N-tier architected application taking the banking and finance institutions to new heights with user-friendly features and enabling mobile banking with “Banking from Anywhere” using the Internet browsers. SkyBank offers modules such as Savings, Fixed Deposit, Loans, Margin Trading, Pawning, Leasing, Hire Purchase, and General Ledger among many other features such as mobile payment gateway and SMS alert engine.
He further added that it was high time for a local software company to develop and implement a total core banking software solution in the country and OpenArc has the long-term commitment to fulfill this need and thereby save large amount of foreign exchange flowing out of the country.
SkyBank opens the door to its customers to operate seamlessly on a single platform from various locations, lowering the barriers faced by banking institutions today. The overall architecture of SkyBank encompasses seamless integration with legacy data and a meaningful transition from existing software deployments in an aggressive timeline.
OpenArc is a 22 year old organization with approximately 180 employees. OpenArc has earned the reputation as the leading application software and service provider in Sri Lanka in the Leasing, Merchant Banking & Finance markets. OpenArc currently holds around 75% market share in the banking and finance industry with its products in Sri Lanka. OpenArc has pioneered in providing the best of support services to its clientele and life time guarantee for its products.
OpenArc software arm has products and services divisions. The software product divisions target banking and finance, stock market, manufacturing, enterprise resource planning, hospitality, health and tourism sectors. The services division focuses on bespoke solutions and resource outsourcing delivering solutions to various industries. OpenArc supports a vast array of technology platforms including JAVA, Microsoft, open source, Oracle and Progress.
OpenArc is accredited with CMMI level 3 software quality standards and is currently being reviewed for Level 4.
Softlogic Finance PLC is a 14 year old financial institution whose principle lines of businesses includes Leasing, Hire Purchase and Operating Lease facilities. Manned by a team of professional staff with vast experience in the Marketing, Finance and Legal sector, Softlogic Finance PLC is geared to provide the highest quality service to its clientele.