BOC initiates international symposium on innovative banking | Daily News


 

BOC initiates international symposium on innovative banking

The Bank’s CEO/General Manager Senarath Bandara launches the “INNOVBANK” website at the “INNOVBANK Symposium” inauguration ceremony held at the Bank of Ceylon’s Head Office. BOC’s AGM BPRP Suresh Perera, Head of IT M.M.L. Perera, DGM Product and Banking Development M.J.P. Salgado Dharmasiri Kumarathunge Director-Payment and Settlements  of Central Bank of Sri Lanka, Dr. D.A.S. Atukorale-Deputy Director University of Colombo School of Computing (Co-ordinating Co-chair- INNOVBANK), Dr. Samantha Rathnayake Faculty Member /Management Consultant Postgraduate Institute of Management Co-ordinating Co-chair- INNOVBANK, Commodor  J.U. Gunaseela Dean Faculty of Computer Science Kothalawala  Defence  University.

Bank of Ceylon as the leading commercial bank in Sri Lanka commemorating its 80th anniversary this year, unveiled a symposium on Innovative Banking on November 4, which is a first-of-its-kind in the industry, under the theme “Innovative Banking in a smart world”.

This international symposium named ‘InnovBank’ intends to bring forth timely, significant and decisive aspect of future banking innovations in the industry towards a revolutionary future banking landscape in line with an atmosphere that is disruptive and inevitable.

The applied research papers, concept papers or Proposals are invited from Universities, Institutions, Practitioners, Enthusiasts including novel thinkers and Fintech Innovators, as well as from Schools on the disciplines of future banking under the defined Symposium categories. The papers and proposals can be submitted online via www.innovbank.lk from November 04, to December 31, under the defined Symposium categories.

The launch was graced by the General Manager and CEO, Bank of Ceylon with the participation of professionals and academics.

Addressing the gathering, the General Manager and CEO of Bank of Ceylon stated the importance of innovative banking for economic growth of the country. Commenting on this, the General Manager and CEO of BOC Senerath Bandara said, “This symposium creates a forum on future banking for industry growth in the disciplines of Fintech Solutions in banking, Business Process Re-Engineering in banking services, Innovative financial products and services, Impact of Artificial Intelligence in Financial Services and application of MIS and Big Data Analytics for Decision Making”. Dr. Samantha Rathnayaka, Faculty Member and Management Consultant, Postgraduate Institute of Management, University of Sri Jayewardenepura who is one of the Co-chairs stated that there is an outdated idea that academia’s sole purpose is the pursuit of knowledge while industry is enslaved to profit. The reality is that academia is an industry in and of itself, and industry cannot generate profit without innovation.

Delivering a special speech, Dr. D.A.S. Atukorale , Deputy Director of the University of Colombo School of Computing and the Co-Chair of the symposium briefed the gathering with regards to Information Technology (IT) and digital transformations in the banking industry and emphasized the requirement of technicaliy innovative financial service offerings that disrupt the existing financial services market.

In the future, the banking sector would be mainly focused on technology based solutions, digitalized processes, innovative products and services along with artificial intelligence support by data analysis.

This symposium is open internationally-those resident overseas are welcome to participate. Those interested must develop their papers under the categories as, Fintech Solutions in banking, Business Process Re-Engineering in banking services, Innovative financial products and services, Impact of Artificial Intelligence in Financial Services and application of MIS and Big Data Analytics for Decision Making in the banking industry.

The Bank ensures transparency and clear assessment though out the evaluation process incorporating the insights of the independent external evaluators. The evaluation process consistingof three main phases is involved with initial screening by industry experts, presentations of short-listed applications to screen and recognize the best papers/ proposals based on expediency and viability.

The applicants of best papers will have the opportunity to showcase their presentations at the final event scheduled in March 2020 in front of a large audience with industry veterans and academics.

 


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