Commercial Bank of Ceylon plc

12/30/2020 | News release | Distributed by Public on 12/30/2020 03:59

ComBank wins Robotic Process Automation award from SLASSCOM

The Commercial Bank of Ceylon, a leader in tech innovation in Sri Lanka, has won the Banking and Financial Services Category Award presented by Sri Lanka Association for Software Services Companies (SLASSCOM) at its Robotic Process Automation (RPA) Awards Conference 2020.

The RPA Award for the category was presented to the Bank for its end-to-end automation of User ID Management function which automates key Human Resources Management request processes. The Bank has established a special unit to facilitate the process using the latest robotic technology and hyper automation approach.

Case studies submitted for the consideration of the SLASSCOM RPA Awards had to include any solution which involved Robotics Process Automation as a key catalyst in deriving desired outcomes and showcase improvements in process efficiency, client delivery, increased quality, and cost savings.

Upon being adjudged the winner of the Award for its case study in the automation of the User ID Management function, the Commercial Bank was invited to present a video demonstration of its RPA journey at the virtual SLASSCOM RPA Conference 2020 in December.

The Bank revealed that the Application Programming Interface (API) of its User ID Management function is integrated with the Bank's HR systems to obtain details of permanent and banking trainee employees, employment changes on the effective date, and backdated employment changes.

Other banking systems integrated with Robotic Process Automation include the active directory, anti-money laundering (AML), leasing, branch letter generation module, payment processing, cheque clearance, trade finance, core banking, core banking query, card management, loan origination, operational risk management, signature & documents management, email management, bank guarantee, credit monitoring and procurement approval, the Bank said.

SLASSCOM is the national chamber for the knowledge and innovation industry in Sri Lanka and acts as the catalyst of growth by facilitating trade and business, propagation of education and employment, encouraging research and innovation, and influencing a national policy framework of value to the industry. SLASSCOM has over 200 member companies with a 30,000+ employee base.

The first Sri Lankan Bank to be listed among the Top 1000 Banks of the World and the only Sri Lankan bank to be so listed for ten years consecutively, Commercial Bank, which won more than 50 international and local awards in 2019, operates a network of 268 branches and 880 ATMs in Sri Lanka.

Commercial Bank's overseas operations encompass Bangladesh, where the Bank operates 19 outlets; Myanmar, where it has a Microfinance company in Nay Pyi Taw; and the Maldives, where the Bank has a fully-fledged Tier I Bank with a majority stake.