OpenArc conducted this event to thank its customers for the commitment extended over the last 22 years of business and showcase some of its latest innovative software bridging the gap in the technology used in the banking and finance industry.
The theme of the event was “BIT COINS – Future of Banking and Finance in Sri Lanka – A Technology Perspective”
Highlights of the event included the keynote address by Chairman/CEO of OpenArc Mr. Daya Hettiarachchi on “BIT COINS”, where he defined “BIT COINS” as Banking with Innovative Technologies – Currencies of Invisible Nano Space”. In his address, he brought the concept of Nano Space in to Banking & Finance and made a comparison with the technology revolution that is taking place in the internet world using nano technologies. Further the technological changes taking place in Banking & Finance using crypto currencies on the Internet while presenting how the software company OpenArc has addressed the future needs of the industry with some pioneering software tools and technologies that were presented later during the forum.
A panel of eminent speakers included industry veterans from the United States and prominent bankers from Sri Lanka.
Dr. Mahinda Yapa, Senior Vice President, Fundation Inc USA delivered his presentation via Skype from the USA on “Technology Strategies for Finance Companies” and reducing risk with multi-phase authentication. Then Dr. Ranee Jayamaha,Chairperson, Hatton National Bank spoke on Governance & Banking Technology advocating cooperation between banks to enhance better services to consumers. Mr. Sunimal Weerasooriya, CEO Lanka Clear shared his thoughts on the newly implemented national ATM switch and its wider benefits to the consumers on the topic of “Interbank electronic payments through common card and payment switch” followed by Mr. Arleon Prithu Das of Brac Lanka Finance on “Micro Finance powered by Technology” and they leveraged the use of POS (Point of Sale) devices to conduct branchless banking.
OpenArc demonstrated its new software products using a colorful video presentation. UniIPO (Unified IPO), a easy to use hosted online IPO listing software, which is a module of UniSETS, Unified Security Trading System (http://www.openarc.lk/
Then was the re-launch of SkyPay a web and mobile payment solution with an integrated mobile payment switch SkySwitch – a solution for the ever demanding mobile customer who is in dire need of branchless banking. SkyPay and SkySwitch will raise the mobile payment functionalities to new heights with inter-banking electronic funds transfer capabilities a reality. In brief “A single log-on to access your accounts with multiple banks and perform real-time transactions”
The moderator at the event was Mr. Sunil Wijesinghe, Chairman NDB Bank, Sri Lanka who compared the evolution from the days of using a Radio Shack computer and the current era of mobile banking and common card platform for inter-banking transactions.
“OpenArc is celebrating its triumphant journey since 1991, remaining a market leader in the banking and finance industry. It is a modest contribution from OpenArc to express its gratitude to our committed customers and partners to host such an event. We are honored to have a distinguished panel of speakers to share their futuristic thoughts and the showcase of our new products launch taking technology to new heights in mobile payments, online IPO and web based core banking” said Sathi Sivasithamparam, Director of Business Development.
About OpenArc Group
OpenArc since inception 1991 has been a pioneer in the education and software industry and fostered employment with education to rapidly expand skilled resources in the field of information technology.
OpenArc has expanded to a group of companies initiating venture into leisure, real estate and green energy. OpenArc Systems Management, the software arm is a leading provider of information technology, consulting and business process outsourcing company dedicated to helping companies build stronger businesses and stay ahead of the competition. OpenArc is recognized as the market leader in providing software solutions to the banking and finance industry in Sri Lanka.
OpenArc also provides other solutions to the enterprise and SMEs such as ERP, hospitality and other web based software to increase business efficiency. OpenArc has grown to a 170 person company with a passion for client satisfaction, technology innovation and deep industry process expertise in banking and finance, and a workforce that symbolizes the future of technology innovation. OpenArc is a CMMI Level 3 quality accredited company.