SDB bank, a Sri Lankan lender serving the co-operative sector, has expanded its long-term partnership with financial services provider Fiserv.

The new collaboration builds on an existing partnership since 2010, when the lender used Fiserv’s Signature platform to implement transaction processing and branch teller functionality.

Under the expanded collaboration, SDB bank will upgrade banking platform and teller solutions to deliver better services to its customers and drive digital footprint.

The latest Signature core banking platform will offer multicurrency and multi-entity features to meet evolving requirements. Additionally, the modern micro services layer provides API-enabled integration capabilities with external applications, thus facilitating roll out of new products.

The solution framework will enable the bank roll out new functionalities, reducing the need for a full system upgrade.

Fiserv General Manager of India and Sri Lanka Rishi Chhabra said: “Financial institutions across the globe are seeking flexible technology that allows them to quickly and effectively respond to digitisation and rapidly evolving customer needs.

“SDB bank is committed to digital transformation to help their customers better manage their finances, a particularly important consideration as businesses look to regain their footing after the Covid-19 pandemic, and is putting the technology in place to fulfil that commitment.”

Regulated by the Central Bank of Sri Lanka, SDB bank offers retail, SME and business banking services. It has 94 branches and around 5,000 inter-bank network ATM points across the island.

In January, US-based Trustco Bank adopted an enhanced version of digital banking platform from Fiserv.