Board Subcommittee Reports

Board Technology Committee Report

Composition of the Committee

The Board Technology Committee (the BTC) consists of following members whose profiles are given in the section on Board of Directors and Profiles.

Prof A K W Jayawardane* (Chairman)
Mr J Durairatnam (Managing Director/CEO)
Mr S Renganathan
(Director/Chief Operating Officer)
Ms N T M S Cooray* (Director)
Mr T L B Hurulle * (Director)
Appointed with effect from April 28, 2017

*Independent Non-Executive Director

Regular Attendees by Invitation:
Mr L H Munasinghe
(Deputy General Manager – Marketing)
Mr U K P Banduwansa
(Head of Digital Banking)
Mr D B Saparamadu (Consultant)

Secretary to the Committee
Mr K S A Gamage
(Assistant General Manager – Information Technology)

Meetings

Name	Eligible to attend/Attended
Prof A K W Jayawardane	4/4
Mr J Durairatnam	4/4
Mr S Renganathan	4/4
Ms N T M S Cooray	4/2
Mr T L B Hurulle	3/3

This year we implemented a centralised automated reconciliation system to minimise disputes and increase efficiency.

Charter of the Committee

The Committee was established by the Board of Directors in recognition of the degree of reliance of the Bank on technology and the growing demands of IT Governance.

The Committee has been empowered to:

Set the overall technology strategy and track progress of the objectives to meet the strategy.
Review significant technology procurements, prior to them being sent to the Board of Directors for approval.
Analyse emerging technology and its potential use to drive corporate IT strategy.

Activities in 2017

Committee focused to improve the following areas which will be key components that will drive Bank to digital era.

Improve customer convenience to attract more customers towards Bank. While it is always challenging to cater for ever increasing customer demands, Committee was able to monitor and ensure that the Bank delivers best products and services such as follows.

Online Loan Approval facility to make customer convenience.
Expanded Cash Recycler machine network to cover 100 locations.
Extended mobile platform with more functionalities.
Enhanced Call Centre with Customer Relationship Management.
Automated Savings Account Opening facility.
Opex model initiatives such as Digital Banking (Flash) and iPOS.
Expanded card network with China Union Pay (CUP).
Agent Banking Solution for Maldives.

Business Process Reengineering and Automation to improve productivity and save cost/time. With the direction of the BTC, initiatives have already been started to drive process automation in a strategic way. Following projects are being implemented under the guidance of the BTC.

Email Cloud Solution to improve functionality and efficiency.
Implementing a centralized automated reconciliation system to minimize disputes and increase efficiency.

Enhancing and Improving IT infrastructure to match with the demand, is one of the key determining factors. With the ever increasing customer demands and emerging use of technology, it is required to improve sustainable infrastructure with the aim of catering for high performance needs and availability. Following key projects were planned and are being implemented to cater for these requirements.

Enterprise Integrator to ensure future third party integrations are smooth and faster than ever.
Virtual Server Infrastructure to increase availability and operational efficiency.

Protect customer data is a foremost challenging requirement of the Bank. Committee steers the Bank to ensure that all necessary preventive actions are in place and regularly reviews the status of projects that are related to security.

The Committee also reviewed significant items for procurement and recommended them for approval by the Board of Directors.

Prof A K W Jayawardane
Chairman – Board Technology Committee

Colombo
February 23, 2018